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Evaluating the environmental sustainability performance of a nation is complex. This paper considers the merits of environmental indices, and how effective they are when assessing the environmental sustainability of any nation. The simplicity and generic qualities of environmental indices currently necessitates a much broader analysis in order to evaluate any nation׳s genuine environmental sustainability credentials – ultimately the development of a synthetic Environmental Sustainability Index is required to fulfil this task. Using Iceland as a case study, this paper reviews the usefulness of four selected environmental indices (Environmental Vulnerability Index, Environmental Performance Index, Ecological Footprint and Happy Planet Index) for governance institutions when formulating reasoned responses to challenges. By adopting a holistic methodology, Iceland׳s environmental sustainability credentials are critically examined in this paper, with particular focus given to the impacts deriving from expanded renewable energy utilisation in recent years. Abundant geothermal and hydropower energy resources have been increasingly used to power heavy industry, particularly aluminium production. The wider health implications and long-term environmental sustainability consequences of renewable energy utilisation have not been analysed in depth within any of the indices. Socio-economic progress in Iceland has also been attained alongside the imposition of the highest ecological footprint of any nation in the world. As such, economic activities in Iceland have not occurred in accordance with commonly accepted notions of sustainable development, which is focused upon the reconciliation of economic, environmental and social objectives, together with recognition of current and future need across these domains. [ABSTRACT FROM AUTHOR]

Abstract: During the last decades numerous environmental problems have been exacerbated, and in some cases created. Traditionally, such problems have been addressed through environmentally sound technologies. The diffusion of such technologies has, however, been slow, where the focus has primarily been on high-polluting sectors. This paper explores the environmental actions of a relatively low-polluting sector, the insurer industry, in regards to environmentally sound technologies, by schematizing the concept of environmentally sound technologies as it is defined in Agenda 21. The Agenda 21 definition is critical when discussing environmentally sound technologies, as typologies of academic scholars are defined from the perspective of manufacturers ignoring the role of relatively low-polluting sectors when dealing with environmental issues. Five focus points from a climate change statement issued by the Nordic insurance industry are then integrated into the schematic framework. Case study examples from 16 Nordic insurance companies and secondary data of insurers' activities are used to illustrate insurers' role in enhancing development and utilization of environmentally sound technologies. Although the insurance industry offers many examples of its role in the development and utilization of environmentally sound technologies, this paper highlights the following points (1) there are still areas for improvements, (2) there is a large capacity that could be utilized, and (3) business opportunities are expected to increase once climate change consequences become more apparent. Due to the slow uptake of environmentally sound technologies, it is important to strengthen the focus on the role and obligation of low-polluting sectors as a part of the supporting infrastructure dealing with environmental sustainability issues. This paper shows the potential of opportunities arising from the synergies between environmentally sound technologies and finance and service providers to address such issues. [Copyright &y& Elsevier]