Taking action in support of our vital natural resource sector

Key Points

• Canada ranked 15th on the Green Future Index 2022 globally, the 2nd highest out of the world's top 15 oil exporters and 5th amongst the G20 economies.

• Canada's exceptional performance on the index is supported by the revenues from Canada's natural resources sector.

• Canada is a global leader in Environmental, Social, and Governance (ESG) performance.

Canada has once again topped the Green Future Index (GFI), placing 15th among 76 global economies ranked on their progress and commitment to building a more sustainable and low-carbon future.

Performed by MIT Technology Review Insights, the second annual edition of the GFI measures the extent to which the economies of ranked nations are pivoting towards clean energy, industry, agriculture and society through investment in innovation, renewables and green finance.

European nations dominate the Green Future Index 2022, accounting for 16 of the top 20 countries. Many of these nations have made considerable progress on emission reductions by transitioning to cleaner tech and renewable energy sources.

South Korea (10th), Canada (15th), Japan (19th) and Costa Rica (20th) are the only non-European countries to have made the top 20, something that all Canadians should be proud of.

Canada also ranked 2nd best amongst the world's top oil exporters and 5th out of the G20 economies.

Here are the top 15 ranked countries on the Green Future Index 2022.

Green Future Index 2021 – Top 15

Green Future Index - MIT Technology Review Insights, 2022

#1 - Iceland
#2 - Denmark
#3 - Netherlands
#4 – United Kingdom
#5 - Norway
#6 - Finland
#7 - France
#8 - Germany
#9 - Sweden
#10 – South Korea
#11 - Belgium
#12 - Ireland
#13 – Spain
#14 – Switzerland
#15 – Canada

See the Green Future Index 2022 rankings here.

How the Index Works

The Green Future Index evaluates the performance of nations and territories across five pillars each with its own subset of indicators, including:

1. Carbon Emissions – ranks CO2 emissions in total relative to GDP and the annual average change in emissions in each of the industry, transportation and agriculture sectors

2. Energy Transition – measures the growth of renewable energy production in addition to the percentage of energy a country gets from renewable sources

3. Green Society – measures recycling, energy-efficient buildings, consumption of meat and dairy, deforestation rates and electric vehicles per million urban population

4. Clean innovation – ranks decarbonization through innovation and investment in clean energy efforts

5. Climate Policy – Quantifies and ranks state-level activities and overall policies aimed at reducing GHGs

Canada performed the best in the Climate Policy (9th) and Green Society (10th). Climate policy is weighted the most heavily out of all pillars, contributing to Canada's high rank on the Green Future Index. Way to go Canada!

But out of 76 nations, Canada's performance on Carbon Emissions (52nd) and Energy Transition (61st) didn't do so well. Why so? Well, it's important to note that our country is a top-five global oil and natural gas producer and we overwhelmingly rely on these exports for national wealth and prosperity.

European countries such as Sweden, Iceland and Finland which rank high on the Green Future Index 2022 aren't in the same situation, as they depend on oil and gas imports produced elsewhere for their energy needs.

The great news is that Canada's oil and gas sector is continuing to reduce GHG emissions and environmental impacts. For example, major oil sands producers have made an unprecedented commitment to reach net zero emissions by 2050 through new cleantech and innovation, carbon capture and storage and other various methods. 

Top 15 Oil Exporter GFI Rankings

#5 - Norway
#15 - Canada
#21 - United States
#34 - Brazil
#41 – United Arab Emirates
#43 - Nigeria
#49 - Kazakhstan
#50 - Angola
#51 – Saudi Arabia
#54 - Mexico
#58 - Kuwait
#64 - Russia
Not ranked - Libya
Not ranked - Oman
Not ranked – Iraq

Of the world's top 15 oil exporters, Canada ranks behind Norway (5th) but fares much better than all others on the Green Future Index 2022.

Saudi Arabia and Russia - the world's two largest oil exporters - rank at the bottom of the list in 51st and 64th place, respectively.

The UAE placed 41st, while the USA ranked 21st on the Green Future Index 2022.

Iraq and Libya were not ranked on the index despite being in the world's top 15 oil exporters.

The World Needs More Canadian Energy

The Green Future Index is just one of many Environmental, Social and Governance (ESG) indices showing Canada's world-class performance versus other major global energy exporters.

With growing global demand for oil, natural gas, electricity, and even coal as of mid-2022, only the most sustainable energy producers should be go-to suppliers of choice. With our exceptional ESG performance, it's clear that Canada should be a choice supplier for the world's energy needs.

While Canada can and should always do better on reducing its environmental impacts, our high ranking on the Green Future Index 2022 shows that we are an ideal source of energy, whether it be it oil, natural gas, biofuels, or renewable electricity shipped to the U.S. via new transmission lines.

So, the question remains: who would you choose to get your energy from? Would it be stable, democratic and responsible producers like Canada, or less transparent governments that often have little to no protection for human rights and the environment?!

As long as the world needs oil and gas – and it will for decades to come – it only makes sense that as much market share comes from environmentally responsible producers like Canada!

• Yes, We Can Support Climate Action & Canadian Oil & Gas
• Renewable Energy in Canada: 75+ Facts
• Why Does the World Need More Canadian Oil?

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