The report assessed 38 countries using 15 indicators related to developing of green solutions companies, such as public policies and regulations, financial incentives for private, academic incentives, private investment in the sector, and number of environment patents registered, among others.
The list is topped by Denmark which is praised for its support of startup green technology companies and its investment in renewable energy.
Ireland crept into a top 10 dominated by European countries and the report cited an increase in green investment funds and the introduction of carbon credits as two of the reasons for inclusion.
Ireland has the highest percentage of the population working in the ‘green’ industry but the report says that nearly all the innovation is coming from the private sector. “Ireland has very strong general innovation inputs, yet lacks public R&D spending, and has only average scores for supportive government policies,” states the report.
Russia is the lowest ranked nation and was said to have little in the way of innovation or entrepreneurial spirit.
The top ten countries ranked countries are:
Denmark | Israel | Sweden | Finland | USA | Germany | Canada | South Korea | Ireland | UK