A new study has ranked Luxembourg as the 4th best OECD country for a sustainable business startup. Switzerland, the United Kingdom and Sweden take the three podium places.
The study by Utility Bidder, a UK energy consultancy for businesses, shows that Luxembourg, with a score of 6.33 out of 10, has a relatively high number of startups as measured against its population, takes the top spot in eco-friendly commuting and scores top place when measuring carbon emissions per capita.
The research has revealed that Switzerland is the best OECD country for sustainable startups, achieving the highest score of 7.81. The country has the most startups per 100,000 people and performs excellently across environmental factors such as rail travel and transport emissions.
The United Kingdom ranks 2nd with a score of 7.08 out of 10. Despite a high ranking across many of the contributing factors, the UK’s railway services are put into question with the use of railways appearing much less than other countries.
Renewables help Sweden
Sweden, with a score of 6.75, ranked third thanks to renewable energy, with 53.3 percent of its national energy produced from renewable sources. Luxembourg’s share in renewables amounts to 10.85 percent, ranking it as 10th on this particular list, the study showed.
Mexico emerged as the worst country for sustainable startups, and the country has just 0.4 startups per 100,000 people. Nevertheless, Mexico does rank as the country producing the least CO2 from transport per capita - at 0.84 tonnes.
The United States is a thriving hub for new business activity with the 2nd most startup businesses per 100,000 people. Despite the vast number of startups, the US is amongst the OECD destinations that are proving the least sustainable for startup businesses.
