Sustainable Development Goals achievement and country development level - a three-dimensional analysis

Abstract

This study examines the nexus between the degree of implementation of SDGs across three dimensions: Society, Environment, and Good Governance and the achieved level of economic development in EU countries. Using the TOPSIS method, measures of sustainable development were constructed based on SDG and World Bank data for 2013 and 2023. Correlation analysis was used to compare the relationship between economic development and the three ESG dimensions. While most countries have improved their economic performance and environmental indicators, almost all have experienced a decline in social indicators. Of the areas identified, only a positive correlation was found between the economy and society. Governance factors showed strong correlations with economic development only in 2013. The research reveals that economic growth alone does not guarantee sustainability across ESG factors. Policymakers must adopt integrated strategies coordinating economic, social, environmental, and governance policies simultaneously to ensure sustainable development. This study fills a research gap by providing a comprehensive three-dimensional ESG analysis of SDG implementation levels relative to economic development.