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This methodology sets out how Integrum ESG scores 182 countries on environmental, social and governance factors, using 36 metrics and 56 sub-metrics drawn from recognised public sources. Every sub-metric is scored on a rules-based 0 to 4 scale with a Glass Box showing the source and the reason for the score, and the E, S and G scores combine into an overall ESG score and grade, giving investors a separate ESG assessment of government bond exposure alongside financial and credit analysis.
Framework
The sovereign framework
Asset managers use sovereign ESG data to assess and compare environmental, social and governance factors in government bond portfolios. Our sovereign framework follows the same structure as our company analysis: sub-metrics roll up into metrics, metrics into Environmental, Social and Governance scores and those into an overall ESG score and grade.
| Pillar | Examples |
|---|---|
| Environmental | Carbon footprint, water consumption, waste, protecting natural environments, climate change mitigation and climate change risk |
| Social | Indicators such as access to safely managed drinking water and sanitation and the old-age dependency ratio |
| Governance | Regulatory framework, justice and protection of rights, political participation, gender equality and transparency |
Country pages sit alongside company pages on the Integrum ESG Platform and can be found by searching for the country by name.
Data
Data sources
Each sub-metric uses the latest release from a recognised public source, so every figure can be checked independently. Sources include the World Bank, the World Health Organization, the United Nations, the European Commission’s Joint Research Centre, the Energy Institute, WRI Aqueduct, Global Forest Watch, Transparency International and Reporters Without Borders. Sovereign data is refreshed every six months.
Scoring
How sub-metrics are scored
As with companies, every sub-metric receives two scores on a 0 to 4 scale, and all the rules are published on the Scoring Logic page of the Integrum ESG Platform.
| Score | How it is set |
|---|---|
| Awareness | An absolute score, set by fixed bands on the underlying indicator. A score of 0 means reliable, verified data is not available |
| Performance | A relative score, ranking the country’s value against its peer group in quartiles: 4 for the top quartile, down to 1 for the bottom quartile. A score of 0 means reliable, verified data is not available, so performance against peers cannot be assessed |
The Glass Box
Every sub-metric for every country opens to a Glass Box showing a plain-language reason for the score, the source of the data, the country’s value and where that value ranks worldwide. The scoring is rules-based throughout, so there is no subjective judgement in any country score.
Aggregation
From sub-metrics to an ESG grade
- Sub-metric Awareness and Performance scores are combined, weighted 50% each by default.
- Metric Sub-metric scores combine into a score for each of the 36 metrics.
- Pillar Metric scores are weighted within each pillar to give Environmental, Social and Governance scores. By default, metrics are weighted equally within their pillar.
- Overall The pillar scores combine into the overall ESG score: by default Environmental 25%, Social 25% and Governance 50%. The score converts into an A to E grade under the Integrum ESG Scoring Framework.
Each country page shows the overall grade, the three pillar scores and a heatstrip showing where the country’s grade sits relative to its peers.
Peers
Peer groups
Performance scores and peer comparisons depend on the peer group. Each country page shows the country’s region, sub-region and income group, and users can choose how countries are grouped:
| Grouping | Basis |
|---|---|
| Geographic (World Bank categories) | World Bank regions, such as Latin America and the Caribbean |
| Geographic (bond strategist categories) | Regional groupings used by bond strategists |
| Economic (World Bank categories) | World Bank income groups, such as upper-middle income economies |
Customisation
Customising the sovereign scores
Some metrics may matter more to a firm than others, so sovereign scores can be customised in any number of saved profiles. Users can change:
- the weighting of the Environmental, Social and Governance scores in the overall ESG score
- the weighting of Awareness against Performance
- the weighting of each metric within its pillar, provided the total adds up to 100%
- the peer group used to benchmark each country
A customised profile makes the ratings proprietary to the firm, while the default scores remain available in the Uncustomised profile.
Worked examples
Worked examples
Scoring a sub-metric: freedom of the press
The freedom of the press sub-metric, part of the Transparency metric, uses the 0 to 100 index published by Reporters Without Borders, where lower values indicate greater press freedom. The Awareness score bands are fixed:
| Index value | Awareness score |
|---|---|
| 0 to 15 (good situation) | 4 |
| 15 to 25 (satisfactory) | 3 |
| 25 to 35 (problematic) | 2 |
| 35 to 100 (difficult or very serious) | 1 |
| No reliable data | 0 |
With a value of 21.59, the United Kingdom scores 3, and its Glass Box shows it ranked 32nd worldwide on the index.
Customising the weights: Canada
In the default profile, Canada’s Governance score is its strongest pillar and its Environmental score its weakest. A user who raises the Environmental pillar to 50% of the overall score and the carbon footprint metric to 22% of the Environmental pillar sees Canada’s overall ESG grade fall by one band, reflecting the greater emphasis on emissions.
Country profiles: Chile
In our 2026 sovereign data, Chile ranks 30th of 182 countries and third in Latin America and the Caribbean. Renewables make up 71.7% of its electricity, while its WRI Aqueduct baseline water stress score of 4.47 out of 5 is the highest in the Americas. Read all five country profiles.
Uses
Using sovereign data
Government bond portfolios
Assess and compare the ESG profile of sovereign holdings, separately from financial and credit analysis.
Funds and portfolios
Sovereign scores feed into fund and portfolio scores for government bond holdings, as set out in our Fund ESG Ratings Methodology.
Screening
Build focus lists of countries by any attribute and export them to Excel, as set out in our ESG Screening Methodology.
Macro and credit research
Use indicators such as water stress, energy imports or corruption perceptions alongside fiscal and policy analysis.
FAQs
Frequently asked questions
How many countries does Integrum ESG score?
182 countries, using 36 metrics and 56 sub-metrics across environmental, social and governance pillars.
Where does the sovereign data come from?
Recognised public sources, including the World Bank, the World Health Organization, the United Nations, the European Commission’s Joint Research Centre, the Energy Institute, WRI Aqueduct, Global Forest Watch, Transparency International and Reporters Without Borders.
How are the E, S and G scores weighted?
By default, Environmental 25%, Social 25% and Governance 50%. Users can change the weights in a customised profile.
How are sovereign Performance scores set?
Each country’s value on a sub-metric is ranked in quartiles against its peer group, scoring 4 for the top quartile down to 1 for the bottom. A score of 0 means reliable data is not available.
Can I change a country’s peer group?
Yes. Countries can be grouped by World Bank geographic region, by bond strategist regions or by World Bank income group.
How often is sovereign data updated?
Sovereign data is refreshed every six months, with each sub-metric drawn from the latest release of its public source.
See the ESG profile of your sovereign holdings
Speak to our team to see the scores, sources and peer rankings behind every country in your government bond portfolios.