Hong Kong Overtakes France in Morningstar’s ‘Sustainability Atlas’

Hong Kong overtook France for 3rd place and Taiwan jumped from 11th place to 5th place in Morningstar’s 2023 Sustainability Atlas.

The Netherland’s has the world’s most sustainable stock market, holding the title for the fourth-consecutive year, according to Morningstar’s latest Sustainability Atlas which ranks 48 country-specific equity indexes.

Finland is in second place, followed by Hong Kong which has overtaken France this year for third place.

Taiwan has rebounded from 11th place in 2022 to fifth place in 2023, but overall Asian markets scored poorly in the list. China ranked 39 out of 48 markets, and India, South Korea and Japan are in the third quartile.

The UK has moved from 17th in 2022 to 20th this year. The US has maintained its position at 16.

Valerio Baselli, Senior International Editor, Morningstar, said: “With Europe leading the globe for its ESG advancement it was interesting to see that Hong Kong improved from last year, moving up a spot and overtaking France for third place in the rankings.”

“This is due to big components holding low exposure to ESG risks, such as insurance company AIA – the biggest name in the benchmark – which has established an ESG committee, that includes several senior executives, and it has strong human capital development initiative.”

Read more articles like this on Regulation Asia’s sister publication, ESG Investor.

To Top
Share via
Copy link
Powered by Social Snap