Comparative analysis of rating systems in developing and developed countries: A systematic review and a future agenda towards a region-based sustainability assessment

This study aims to review and compare different rating systems of developed and developing countries to identify less focused aspects in terms of holistic sustainability. For this purpose, the study first identified and classified rating systems into two types (international or equivalent and local), which are being implemented by developed or developing countries. Second, it explored most common methods for the establishment of rating systems. Third, it compared international and local rating systems by analyzing their overall characteristics, average scores, assessment criteria and categories. The results have shown major differences between international and local rating systems in terms of holistic sustainability. While some international rating systems paid more attention to categories related to environmental sustainability, other local rating systems paid more attention to categories related to social and economic aspects. The results also indicated that the applicability of sustainability assessment cannot be solely achieved by international rating systems' adaptations. From the results, it can be concluded that the establishment of region-based rating systems with a full consideration of sustainability issues of a particular country is needed as a pivotal step forward to provide a responsive region-based sustainability assessment. The systematic review and comparative analysis performed in this study can provide valuable insights based on which international and customized rating systems can be revised to be more responsive for developing countries. (C) 2020 Elsevier Ltd. All rights reserved.