Canada has once again proved its global leadership on Environmental, Social, and Governance (ESG) indices, placing 10th out of 169 nations on the annual Social Progress Index 2022!
The Social Progress Index (SPI) 2022 is a comprehensive measurement that evaluates countries' social and environmental performance. It goes beyond using gross domestic product (GDP) as a measure of a country's progress and provides a more complete picture of human, societal, and environmental needs. The SPI utilizes 12 categories and 60 sub-indicators to assess the social performance of 169 countries. By focusing on aspects such as basic human needs, foundational well-being, and overall opportunity, the SPI accurately represents a nation's overall development and support for its citizens.
In other words, the SPI and other indexes like it are excellent indicators of which countries are the best sources of supply for our natural resources such as energy, food, and minerals.
Canadians should be proud of our global leadership on social progress. Our nation’s overall wealth and prosperity – underpinned by the natural resources sector – enables us to have quality education, healthcare, and other social programs, which all play a major part in our high performance on ESG-related indexes like the SPI. Also see:
- Canada Ranks 15th on World Press Freedom Index 2023
- Canada Ranks 13th on Human Freedom Index 2022
- Canada Ranks 12th on Democracy Index 2022
Social Progress Index 2022 – Top 15 Countries
- New Zealand
How the Social Progress Index Works
The SPI works by measuring the extent to which countries provide for the social and environmental needs of their citizens. It ranks 169 countries based on their social progress and uses a comprehensive framework, incorporating 60 social and environmental outcome indicators across 12 components (see above).
The methodology for the 2022 SPI involves analyzing data from various reputable sources, such as the United Nations, the World Bank, and the World Health Organization. The data is grouped into three main categories:
Basic Human Needs
- Nutrition and basic medical care
- Water and sanitation
- Personal Safety
Foundations of Well-Being
- Access to basic knowledge
- Access to information & communications
- Health & wellness
- Environmental quality
- Personal rights
- Personal freedom & choice
- Access to advanced education
Canada's SPI 2022 Scores (above)
Within each sub-category listed above, four to six indicators provide a detailed assessment of societal progress. The scores for each indicator are then aggregated into a final SPI score out of 100 for each country, providing each with an overall global ranking.
The SPI 2022 aims to provide a more complete picture of a country’s overall development and support for its citizens and is designed to complement traditional economic measures like GDP. By providing a comprehensive framework for measuring social progress, the index helps policymakers, civil society organizations, and businesses understand the needs and priorities of the countries they serve.
Social Progress & Natural Resources
Canada’s natural resource sectors employ millions of people across the country. These are typically well-paying, long-term careers that support millions of families while helping Canadians sustain one of the highest quality of life rankings in the world.
Government revenues generated by the natural resource industries – forestry, mining, energy, agriculture – are used to supplement our nation’s public healthcare, infrastructure and educational systems (to name a few examples), which underpin our high ranking on the Social Progress Index and other ESG-related indexes.
For example, between 2000 and 2032, the oil and gas industry is expected to generate over $1.1 trillion in revenues for Canadian governments – an extraordinary amount of cash that could pay for 550 new hospitals like the proposed acute care hospital in Windsor-Essex at $2 billion each.
It is hard to fathom how much public infrastructure, jobs and social programs our resource sector revenues pay for!
Why ESG Matters
The SPI and other ESG-related indices like it indicate the best sources of supply for our everyday resources, whether it be energy, food, lumber, minerals, metals, etc. For example, the 2022 SPI’s rankings for the world’s top oil exporters are as follows:
- Saudi Arabia – 101st
- Russia – 59th
- Canada – 10th
- Iraq – 117th
- United Arab Emirates – 68th
- United States – 25th
- Norway – 1st
- Kuwait – 55th
- Nigeria – 128th
- Brazil – 62nd
- Libya – 126th
- Angola – 153rd
- Oman – 80th
- Mexico – 66th
- Kazakhstan – 65th
Given the rankings for the world’s top 15 oil exporters above, which country would you choose to buy your oil from? Nations with a higher SPI ranking are clearly a better choice, as they nurture a better standard of living and quality of life for their citizens.
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Key Points • Canada has placed 15th of 180 countries on the World Press Freedom Index 2023 • Of the world's top oil and natural gas exporters, we rank at the top of the list • Canada's place on ESG-related indices like this means we should be a go-to supplier for natural resou...
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