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The information contained in the Website is NOT FOR RETAIL CLIENTS – The information contained in the Website is solely intended for professional investors, defined as investors which (1) qualify as professional clients within the meaning of the Markets in Financial Instruments Directive (MiFID), (2) have requested to be treated as professional clients within the meaning of the MiFID or (3) are authorised to receive such information under any other applicable laws. The value of the investments may fluctuate. Past performance is no guarantee of future results. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.

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Decline

Sustainable Investing

World’s most corrupt country

Corruption is endemic to varying degrees around the world and as a crime is as old as time; it was first recorded as being present in the judiciary of the Egyptian First Dynasty of 3,100 BC. 1 It tends to be more common in emerging markets that have poor regulation or malfunctioning governments and judicial systems, though it has been seen in the West, typically when government officials have been bribed to award contracts. In one of the world’s largest corruption cases in 2006, UK defense contractor BAE Systems was accused of using bribes to sell arms to countries including Saudi Arabia, Tanzania and the Czech Republic, and paid GBP 300 million pounds to the US and UK authorities to settle charges.


Each year, Transparency International publishes a list of the world’s most and least corrupt countries based on its Corruption Perception Index.2 The index draws on a wide range of surveys and sources including the African Development Bank Economist Intelligence Unit, the World Economic Forum, World Bank and World Justice Project. The index has been published since 1995 and is widely used by investors, including Robeco’s Country Sustainability Ranking (CSR).

The most recent index published in January 2021 ranks 180 countries on a scale from 0 (highly corrupt) to 100 (completely clean). It named the most corrupt countries in the world as Somalia and South Sudan, which both scored 12/100. Somalia has been embroiled in a civil war since 1991 and does not have a functioning government, judicial system or police force. South Sudan became the world’s newest country when it gained independence from Sudan in 2011 following decades of civil war between north and south. It then became embroiled in its own civil war due to infighting between different ethic groups, though signs of stabilization were seen in 2020.

The world’s most and least corrupt countries in 2020

The world’s most and least corrupt countries in 2020

Source: Transparency International.

The four next lowest-ranked countries – Syria, Venezuela, Yemen and Sudan – have significant civil wars or internal uprisings that have stymied normal governmental practices. North Korea ranks ninth from bottom.

The ranking of countries according to their perceived corruption levels

The ranking of countries according to their perceived corruption levels

Source: Transparency International.

What are the most sustainable countries in the world?

Country Sustainability Ranking


The world’s least corrupt countries are seen as Denmark and New Zealand, which both scored 88 points in the 2021 ranking. The highest ranking emerging markets are the United Arab Emirates and Uruguay, both with 71 points. The US is a surprising outlier among the developed nations in 25th place, ranking below Bhutan and Chile.

That ranking is very similar to that of the most recent Control of Corruption ranking of the 2021 Worldwide Governance Indicators (also published annually since 1996), which sees Denmark, Finland, Singapore and New Zealand at the top and Yemen, North Korea, Equatorial Guinea, Syria and South Sudan at the bottom.

See also:

Corruption definition
Country Sustainability Ranking
Corporate governance


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Important information This disclaimer applies to any documents and the verbal or written comments of any person in presentations or webinars on this website and taken together is referred to herein as the “Information”. The services to which the Information relate are NOT FOR RETAIL CLIENTS - The information contained in the Website is solely intended for professional investors, defined as investors which (1) qualify as professional clients within the meaning of the Markets in Financial Instruments Directive (MiFID), (2) have requested to be treated as professional clients within the meaning of the MiFID or (3) are authorized to receive such information under any other applicable laws and must not be relied or acted upon by any other persons. This Information does not constitute an offer to sell, or a solicitation of an offer to buy, any financial product, and may not be relied upon in connection with the purchase or sale of any financial product. You are cautioned against using this Information as the basis for making a decision to purchase any financial product. To the extent that you rely on the Information in connection with any investment decision, you do so at your own risk. The Information does not purport to be complete on any topic addressed. The Information may contain data or analysis prepared by third parties and no representation or warranty about the accuracy of such data or analysis is provided.
In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. Robeco Institutional Asset Management B.V. (“Robeco”) expressly prohibits any redistribution of the Information without the prior written consent of Robeco. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to law, rule or regulation. Certain information contained in the Information includes calculations or figures that have been prepared internally and have not been audited or verified by a third party. Use of different methods for preparing, calculating or presenting information may lead to different results. Robeco Institutional Asset Management UK Limited (“RIAM UK”) is authorised and regulated by the Financial Conduct Authority. RIAM UK, 30 Fenchurch Street, Part Level 8, London EC3M 3BD (FCA Reference No:1007814). The company is registered in England and Wales under Ref No. 15362605.

In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. Robeco Institutional Asset Management B.V. (“Robeco”) expressly prohibits any redistribution of the Information without the prior written consent of Robeco. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to law, rule or regulation. Certain information contained in the Information includes calculations or figures that have been prepared internally and have not been audited or verified by a third party. Use of different methods for preparing, calculating or presenting information may lead to different results. Robeco Institutional Asset Management B.V. is authorised as a manager of UCITS and AIFs by the Netherlands Authority for the Financial Markets and subject to limited regulation in the UK by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request.