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THE PARAMOUNT ROLE OF A REAL DEMOCRACY
The War in Ukraine is a daily reminder of how precious freedom and democracy are, and how essential security is. The respect of civil liberties and political rights has been at the core of our proprietary model for sustainable countries since inception.
Over the last decade, we have reprehended the decrease in democratic values and real democracies around the world, including most developed ones like the OECD Member States. Even within democratic emblems such as United States and European countries, it is still key to recognise the importance of those fundamental values.
When we launched the Emerging Markets expertise back in 2013, the question of democratic values in emerging countries was key and challenging. To deal with this predicament, international organisations, who have the legitimacy to assess the democracy level of a country, had to debate and validate the issue. Therefore, countries that do not meet minimum democratic requirements, as stipulated by external independent experts (Freedom House and Democracy Index published by the Economist Intelligence Unit) will not be eligible for our ranking. Exclusion is a severe decision and closes the door to progress and engagement. This is why we use both sources to justify our decisions. But the weight those countries might represent in benchmarks will not affect our conviction that the core values states promote or neglect should constantly be questioned.
In the end, it is all about impact and value alignment.