Natural Capital Index

Natural Capital Index

Measuring environmental health and resource sustainability

Natural Capital is the stock of natural resources and ecosystem services that support economic activity and human well-being. It includes forests, water resources, biodiversity, clean air, and fertile soil. The health and availability of natural capital directly impacts a country's long-term competitiveness and sustainability.

The Natural Capital Index measures how well countries maintain and protect their environmental resources across key categories including biodiversity, forest resources, water resources, air quality, and climate-related factors.

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Natural Capital Indicators

Key clusters to measure environmental richness and health

Water

Availability of natural water resources, water usage and water efficiency, water stress, water pollution and the ability to generate freshwater from non-freshwater resources.

Biodiversity

The natural occurrence and abundance of biodiversity and biomass, as well as the level of intactness and natural degradation.

Food security

Calculated based on the availability of arable land, combined with water, fertility and harvest indicators.

Natural resource availability

Calculated based on the availability of natural organic, mineral and physical resources

Climate change risks

Evaluation of the exposure to short- and long term climate change risks

Soil

Evaluation of the agricultural sector based on soil and fertility indicators as well as expected impacts of climate change on biodiversity and fertility

The State of the World

A global snapshot of natural capital performance and trends

Global Scores

Lowest29%
Global Average50%
Global Best66%
Ideal World100%

Global Trends

Positive Trends52%
No Trend5%
Negative Trends43%
Overall Sentiment+9.4%
More NegativeMore Positive

Key Observations

1

The Natural Capital Index is led by a northern European forest belt: Latvia, Finland, Estonia, Lithuania and Sweden take the top five places, combining abundant water, high forest cover and low population density. Forest-rich countries in Africa and Latin America (Gabon, Guyana, Paraguay, Brazil) complete the top 20

2

43% of all indicators globally in the Natural Capital dimension show negative trends, the highest share of any GSCI dimension - the data suggest natural capital will decline even further in the future

3

Populous countries in the less developed world rank near the bottom: Pakistan (191), Egypt (180) and Iran (185) sit alongside conflict-affected states such as Syria, Iraq and Somalia. This raises serious concerns about their ability to sustain growing populations amid rising climate disruption

4

Finland, Sweden, Iceland and Norway all rank in the top 13, proving that advanced economies can maintain natural capital and a high standard of living. Sustainability and competitiveness are not mutually exclusive; they are two sides of the same coin

5

China (167) and India (141) rank in the bottom third, affected by a combination of arid climate, high population density and high levels of natural depletion. South Korea (164) shows that high income alone does not protect natural capital where density and industrialisation are high

6

The global average in Natural Capital is 50, or half the possible ideal. Unfortunately, this represents a weak foundation as climate change impacts rapidly accelerate

Why Natural Capital Matters

Environmental resources drive economic resilience and long-term value creation

For Investors

  • Reduced exposure to climate-related financial risks
  • Access to growing sustainable and green markets
  • Lower regulatory and compliance costs in environmentally stable regions
  • Protection against resource scarcity and price volatility
  • Enhanced portfolio resilience through environmental stability

For Businesses

  • Reliable access to clean water and natural resources
  • Reduced operational disruptions from environmental degradation
  • Enhanced brand reputation through sustainable operations
  • Lower costs from pollution control and environmental remediation
  • Competitive advantage in ESG-conscious markets

Bottom Line: Countries with strong natural capital provide stable, sustainable environments that reduce environmental risks and create long-term value for investors and businesses.

Natural Capital Rankings

Explore how countries compare across natural capital indicators

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Rank
Country
Score
1Latvia66.36
2Finland65.25
3Estonia64.94
4Lithuania64.61
5Sweden64.47
6Palau64.17
7Gabon61.47
8Belarus61.12
9Bhutan60.63
10Guyana60.18
11Iceland60.04
12Samoa59.64
13Norway59.39
14Ireland58.92
15São Tomé and Príncipe58.72
16Slovakia58.61
17Paraguay58.61
18Solomon Islands57.97
19Brazil57.91
20Brunei57.50
21Vanuatu57.47
22Uruguay57.37
23Fiji57.36
24Nicaragua57.36
25Central African Republic57.32
26Poland57.24
27Luxembourg57.11
28Suriname57.04
29Croatia56.89
30Bosnia and Herzegovina56.86

Note: Showing top 30 countries. Click column headers to sort.

FAQ

Frequently Asked Questions

About natural capital and how it is measured in the GSCI

Natural capital is the stock of natural resources and ecosystem services that support economic activity and human well-being. It includes forests, water resources, biodiversity, clean air, fertile soil, and mineral resources. Natural capital provides the foundation upon which all economic activity ultimately depends, making it a critical factor in long-term national competitiveness.
The GSCI Natural Capital Index measures countries across six indicator clusters: water availability and efficiency, biodiversity and ecosystem intactness, food security based on arable land and harvest indicators, natural resource availability including organic, mineral and physical resources, climate change risk exposure, and soil fertility including projected climate impacts on agricultural capacity.
Natural capital directly affects a country's long-term ability to sustain its population and economy. Countries with depleted natural resources face higher costs for basic inputs like water and food, greater vulnerability to climate disruption, and reduced resilience to external shocks. Nordic countries demonstrate that advanced economies can maintain strong natural capital alongside high living standards, proving that sustainability and competitiveness reinforce each other.
In the GSCI 2026 (2025 data), the Natural Capital Index is led by a northern European forest belt: Latvia, Finland, Estonia, Lithuania and Sweden take the top five places, combining abundant water, high forest cover and low population density. Finland, Sweden, Iceland and Norway all rank in the top 13, demonstrating that it is possible to maintain environmental health while achieving high economic development.
The trends are concerning: 43% of all indicators globally in the Natural Capital dimension show negative trends, suggesting natural capital will decline further in the future. Several heavily populated countries in the developing world, such as Pakistan, Egypt and Iran, rank near the bottom, raising concerns about their future ability to sustain their populations amid rising climate disruption. The global average of 50 is only half the possible ideal.

Explore All Six Capital Dimensions

Discover how Natural Capital connects with Economic, Social, Intellectual, and Governance Capital

View All Dimensions