Integrating Environmental, Social, and Economic Dimensions to Monitor Sustainability in the G20 Countries

Abstract

Several regions have struggled to define and implement strategic priorities to ensure resource supply security and environmental, economic, and social sustainability. The circular economy is gaining more and more importance as one of the forms of transition towards a sustainable future that integrates, in a balanced way, economic performance, social inclusion, and environmental resilience, for the benefit of current and future generations. In light of the challenges of solving or avoiding future problems, the G20 bloc created proposals and action plans to support the transition towards a more circular economic model while at the same time fostering discussions on the implementation of the 2030 Agenda for Sustainable Development. Therefore, the main objective of this study is to monitor and compare the performance of 19 countries in the G20 bloc (the 20th member is the European Union) from 2000 to 2020 to assess their progress toward environmental, economic, and social sustainability supported by the CE principles. To achieve this objective, the five sectors sustainability model was used and was supported by goal programming as a multicriteria analysis tool generating a synthetic sustainability indicator to assist decision making. The results showed that the countries with the best overall sustainable performance (environmental, economic, and social) in 2020 were Canada (which also occupied the best position in 2000), Australia, Italy, the United Kingdom, and the United States, while Argentina, South Africa, India, Indonesia, and China showed lower sustainability. The results can serve as a reference for decision making by stakeholders in designing policies and incentives to encourage the adoption of the circular economy and boost economic development without compromising welfare or the environment.