The U.S. companies that make up Corporate Knights’ first-ever USA 25 Most Sustainable Corporations ranking brought in more than $1.15 trillion in revenues in 2024, of which an average of 61% came from sustainable products or services. That included companies like Nvidia, whose super-efficient chips power much of the world’s AI infrastructure, and Tesla, which has single-handedly transformed the U.S. electric vehicle market.

Perhaps more notably, however, sustainable revenues as a share of the total are growing, and sustainable investments are poised to accelerate the transition. Michael Yow, director of rankings at Corporate Knights, points out that the average sustainable investment ratio for S&P 500 companies is less than 11%; for companies in this ranking, it is more than 62%. “It illustrates how sustainability leaders are already rewiring their business models for a low‑carbon economy while the broader market lags behind.”

The top company

Leading the ranking this year is Fluence (#1), a company out of Arlington, Virginia, that creates utility-scale energy-storage systems. Founded in 2018 from a partnership between Siemens, the German tech giant, and AES, the largest U.S.-based global power company, Fluence is one of a select group of companies playing a pivotal role in the shift to renewable power in the United States. The grid-level battery company currently has 296 projects globally storing 28.9 gigawatts of renewable energy.

Fluence doubled its sustainability revenues between 2022 and 2024 and earned a perfect sustainable investment score by pouring all its capital expenditure and research and development into new energy-storage solutions and supporting technology. In early 2025, the company announced “breakthrough” modular stacks that can store 30% more power over the same footprint as previous generations of the technology. Additionally, Fluence – which also placed fourth in this year’s Global 100 ranking – is deploying AI-optimized software to help maintain its infrastructure and to assist with bidding in the notoriously complex and volatile wholesale energy market.

The fast track

The companies with highest compound annual growth rate of sustainable revenue

Among the companies with the fastest-growing share of sustainable revenues was
Prologis (#17), a San Francisco–based real estate investment trust.
Prologis owns more than 5,800 facilities, mostly warehouses and commercial spaces,
spanning 1.3 billion square feet across 20 countries. In the last year, the company
secured sustainable building certifications for all the eligible buildings and since
2021 has achieved 626 megawatts of solar power and storage capacity across its portfolio.

Sustainable revenues still account for only about 19% of the company’s total revenues, but since 2022 those revenues have grown 239% annualized. Yow points out that a significant share of the buildings that did not qualify under the Corporate Knights Sustainable Economy Taxonomy in 2022 now do, thanks to the company’s efforts.

Nvidia (#10), the world’s largest company by market capitalization, also had one of the fastest-growing shares of sustainable revenue. It saw a 124% increase over 2022 for total sustainable revenues of about $75 billion. Most of those earnings are attributable to the company’s ultra-efficient computer chips that now make up the majority of global AI data-centre infrastructure. These chips are up to 25 times more energy efficient per watt than traditional, general-purpose central processing units and up to 300 times more water efficient than air-cooled computing architecture.

There was one more company, Bristol-Myers Squibb (#25), that registered an even higher sustainable revenue compound annual growth rate, at 342%, but as Yow explains, its circumstances are unique. Revenues at pharmaceutical companies in the ranking are considered sustainable if they come from the sale of drugs included on the World Health Organization’s Essential Medicines list. Bristol-Myers Squibb sells several of these medicines, but in 2022, a significant share of those revenues were not credited in full. This was because a significant portion of the cash flow from those revenues went toward share buybacks, dividend payments and senior executive compensation, rather than being reinvested in the company. Since 2022, the share of eligible revenues at Bristol-Myers Squibb has shifted, hence the increase.

Come-from-behind corporation

A company with a small percentage of sustainable revenue but high sustainable compound annual growth rate

At Hologic (#16), a healthcare company out of Massachusetts, about 19% of its $4.03 billion in 2024 revenues were sustainable, representing an annualized increase of 50% since 2022. This change is attributable to the increased sales of its medical solutions for women’s health, particularly breast cancer. Many of Hologic’s systems, including those used for imaging and biopsy, have been classified by the World Health Organization as “indispensable” for quality healthcare delivery.

Transition majors

Companies with small sustainable revenue but high sustainable investment

American Water Works Company (#19) is a 140-year-old company and the largest regulated provider of water and wastewater utilities in the United States. Based in Camden, New Jersey, and delivering services to more than 14 million people in 18 states, its share of sustainable revenues was small relative to the scale of its operation, but its sustainable investments were significant. Last year, the company reportedly invested $3.2 billion in infrastructure improvements (in 2024, the company brought in $4.6 billion in revenue). This included pipe replacement and water treatment upgrades, as well as remediation for PFAS (known as “forever chemicals”) that have been commonly detected in drinking water.

Another one of the senior companies on the list, the 146-year-old automotive manufacturer BorgWarner (#21), operating out of Auburn Hills, Michigan, also earned high marks for its sustainable investments. The company has been focused on developing new parts for electric vehicles and plug-in hybrids, including motors, transmissions and battery systems.

The pure-play behemoth

A large-cap pure-play company with high sustainable revenue and investment, but also penalties

Given this year’s refocusing of the methodology on sustainable revenues, investment and growth, it should come as little surprise that Tesla (#9) remains a fixture on the list. Now based in Texas, the company recorded $97.69 billion in revenues in 2024, 100% of which was registered as sustainable in the Corporate Knights methodology. It should be noted, however, that the company did suffer several penalties related to a $1.5-million settlement over the alleged mishandling of hazardous waste, and another to a fatality at its Texas Gigafactory.

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Waste-to-wealth winners

Companies at the forefront of the circular economy

Enviri (#11) is a Pennsylvania-based waste-management firm that specializes in complex environmental challenges. Across three divisions, it has recycled nearly 440,000 tons of hazardous material, 3.1 million tons of contaminated soil and 85 million gallons of wastewater – in all, about 92% of the materials it collects. These materials are used to create the company’s “ecoproducts” such as cement additives, construction aggregate, asphalt and cost-effective alternatives to raw materials used in concrete and brick.

CMC (#22) is one of the primary suppliers of the steel rebar used to reinforce the concrete in buildings, bridges and roads across the United States. With 212 facilities, the Texas-based company boasts an impressive record in an industry that has, traditionally, had a large environmental footprint: 17 billion pounds of scrap metal saved from landfills, 82% less energy and 62% less carbon dioxide than traditional steelmaking, and 100% recycled steel in all of its products.

2026 USA 25 Most Sustainable Corporations

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The Asia Pacific 50 Most Sustainable Corporations ranking spotlights unique sustainability sectors throughout the eastern hemisphere: green finance and electric vehicles in China, wind power in India, hydroelectricity in New Zealand and advanced high-speed rail in Taiwan.

The average sustainable revenue among the companies on Corporate Knights’ Asia 50 ranking was 65.5%, notes Michael Yow, Corporate Knights’ director of rankings. By comparison, the iShares Asia 50 ETF, which tracks the S&P Asia 50 Index, had an average sustainable revenue of only 3.8%. “This disparity suggests that investors using conventional large-cap benchmarks may be significantly underexposed to companies generating revenue from sustainable economic activities, despite the growing materiality of sustainability-related risks and opportunities among Asian companies,” Yow says.

How the ranking was made

To compose the list, Corporate Knights researchers rank publicly listed companies with more than US$1 billion in revenue based on their sustainability performance. Three key questions guide their analysis: To what extent are a company’s investments geared toward sustainability? Where does its sustainable revenue come from? And how fast is its sustainable revenue growing?

To answer these questions, the Corporate Knights research group relies on three equally weighted indicators: the share of revenue from sustainable products and services; the share of investments directed toward sustainable projects; and what they call “sustainable revenue momentum,” which is the compound annual growth rate in sustainable revenue from 2022 to 2024. This last metric was introduced to the Corporate Knights sustainability rankings this year, to reflect the urgency of the energy transition and the shift to a green economy.

Companies can also earn a bonus of up to 5% for linking CEO pay to sustainability targets. Alternatively, they face deductions of up to 5% each for legal sanctions and workplace fatalities. Companies are benchmarked against industry peers across 64 groupings.

The top company for 2026

Taiwan High Speed Rail Corporation (THSRC) tops this year’s Asia 50 ranking – and not only because nearly all its revenues come from its low-carbon, high-speed rail service. Over the past year the company stepped up investments in its electrified network, completing major extensions, replacements and upgrades. Its revenue rose from 37 billion Taiwan dollars in 2022 to TWD 53 billion in 2024, driven by its consistently strong performance in the operation and management of its rail lines.

THSRC has ranked in the top 5% of listed companies in the Corporate Governance Evaluation, an annual assessment by the Taiwan Stock Exchange, for eight consecutive years, and has been a persistent selection for the FTSE4Good TIP Taiwan ESG Index, which tracks Taiwanese companies with stronger-than-average environmental, social and governance (ESG) performance, since 2018. It has also become a regular presence on the Corporate Knights Global 100, placing fifth in 2025 and 2026 and fourth in 2024.

THSRC’s inherently low-carbon business model is only part of the story: it also uses measurable and improving environmental key performance indicators for its energy consumption, water conservation and waste recycling – reports transparently in line with global standards. Even though its trains are all-electric, Taiwan’s grid is largely powered by coal and natural gas, so THSRC discloses its greenhouse gas emissions with third-party verification and works to cut its carbon intensity. THSRC has also installed solar panels at some of its stations and depots to reduce the carbon footprint of its operations.

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But THSRC isn’t the only company that stands out from the list. Looking closely at the inaugural Asia Pacific 50 Most Sustainable Corporations, several stories emerge.

The fast track

Among the three companies with the highest sustainable compound annual growth rate (CAGR), one finances renewable-energy generation and the other two make electric vehicles.

1. Industrial Bank Co. Ltd. (#16), commonly known as CIB, significantly expanded its renewables portfolio over the past year, aggressively financing large-scale wind and solar projects under its “All-Green” strategy. Headquartered in Fuzhou, Fujian, CIB deploys green bonds and specialized credit lines to support China’s carbon-neutrality goals. The bank’s green loans are growing faster than traditional corporate loans, reflecting a strategic pivot toward sustainable infrastructure. As China’s first bank to adopt the Equator Principles for environmental and social risk management, CIB has prioritized clean energy over high-emission industries and integrated ESG metrics into its core credit-approval process. CIB’s sustainable revenue momentum stands out because while its sustainable revenue ratio is only 7%, its CAGR is 132%.
2. Seres (#26) is part of China’s new crop of automotive stars, even though it was founded almost four decades ago. Based in Chongqing, the company started out making components for shock absorbers and household appliances. But in the mid-2010s, its parent company, now known as Seres Group, launched a vehicle-manufacturing arm, and in 2019 Seres rolled out its first EV, the SF5. Although that debut met with only muted market response, Seres has since partnered with Huawei Technologies to co-develop better-selling Aito-branded EVs. Seres saw its revenue increase in 2024 by more than 300%; this past year brought more strong performance, with higher margins and increased investment in research and development.
3. Li Auto Inc. (#10) is coming off a hard year, which saw the pioneering EV company deliver 19% fewer vehicles than 2024. The downshift followed several years of high demand for its extended-range electric vehicles (EREVs), which carry small gas-powered engines to top up the battery, and where the carmaker had been an early leader. But as competition heats up and technology improves for more affordable battery-electric vehicles (BEVs), Li Auto is fighting to retain its leadership position. The company plans to double down on EREVs while still transitioning to BEVs.

The waste-to-wealth winner

Among companies at the forefront of the circular economy, the Australian supply-chain logistics company Brambles Ltd. (#9) stands out for its “share and reuse” system for pallets, crates and containers. This model eliminates the need for customers to purchase and manage their own equipment, instead allowing them to borrow standardized platforms and then return them for reconditioning and redistribution. The company’s pooling approach also offers a sustainability advantage: shared assets reduce the total number of pallets and containers in circulation, thereby cutting down on waste, deforestation and carbon emissions compared to traditional pallets and crates.

The transition enabler

Looking at banks with high sustainable lending, Taiwan’s Chang Hwa Commercial Bank Ltd. (#42) is exceptional, with a CAGR of 48% thanks to its marked increase in lending to renewable-energy, circular‑economy and low‑carbon-manufacturing projects. Chang Hwa has set a target to phase out investment and financing for coal and unconventional fossil fuels by 2040. Notably, this 120-year-old bank also ranked 42nd on the World’s Safest Banks 2025: Emerging Markets Top 50 by Global Finance, thanks to its strong balance sheet and conservative risk profile.

The long-game player

We looked for companies with small sustainable revenue but high sustainable investment to see who’s leaning hardest into the green shift. StarHub (#50) showed that targeted, long-term investment – not revenue growth alone – defines value. The Singapore-based telecommunications company has channelled capital into cloud transformation, renewable energy and cybersecurity, and backed this up with science‑based climate targets, long‑term renewable power-purchase agreements and executive pay tied directly to ESG performance.

The pure-play behemoth

When you’re near the ocean, you keep an eye out for whales. Likewise, on a ranking like this, it’s interesting to look out for the big pure-play companies with high sustainable revenue and investment. One major standout in the clean-energy revolution is LG Energy Solution (#14), the battery arm of LG Corp., which has grown its manufacturing business by securing long-term supply agreements with major global automakers including General Motors, Stellantis and Hyundai. LG now boasts joint-venture gigafactories in North America and Europe alongside Asia to meet surging demand. The company has also capitalized on the rapid global build-out of grid-scale and commercial energy storage, emerging as one of the leading suppliers for utilities and renewable projects.

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This was the animating spirit of the new methodology behind the Corporate Knights Global 100 ranking. The revised methodology introduces “sustainable revenue momentum” to measure how fast companies are growing their sustainable revenues. This metric now accounts for one-third of a company’s score, with overall sustainable revenues and sustainable investments accounting for the other two-thirds.

“We’re firing a shot across the bow that speed matters,” Corporate Knights CEO Toby Heaps says.

A change of method

The new momentum metric marks a broader shift in the ranking methodology. Last year, sustainable revenues and investments together accounted for 50% of the score, and the other 50% was scored across 22 common environmental, governance and social performance indicators (KPIs) such as water use, emissions, workplace fatalities, and diversity on the board and among executives.

The change has reordered the deck in a big way. The revenue growth criteria helped Pandora, a popular Danish jewellery manufacturer, shoot up from 48th spot in the 2025 rankings to number two.

The companies in fourth and sixth place – Fluence Energy, the maker of utility-scale battery energy storage systems headquartered in Arlington, Virginia, and the Denver-based healthcare company DaVita Inc. – are both new to the ranking. Seven other U.S. companies joined the G100 this year, bringing the U.S. total to 20, the most of any country. “[It’s] an interesting rebuttal,” Heaps points out, “to the noise that the United States is bailing on the sustainable economy.”

For fairness, some energy companies were granted a temporary act-of-war exemption from the momentum criteria. The provision is necessary, Heaps says, to prevent companies from being penalized for distortions caused by Russia’s invasion of Ukraine, which drove prices sharply higher in 2022 before they fell again in 2024.

The G100 leader, ERG SpA, an Italian power generation company, rose dramatically from 18 to number one. Even amid the extreme wartime volatility and the sale of all its fossil fuel assets, ERG managed to increase its power output from wind and solar sources by more than 2,000 gigawatt-hours between 2022 and 2024.

Overall, 33 companies from last year’s ranking failed to make this year’s list, and four were no longer eligible either because they went private or their revenues fell under $1 billion, while 37 new companies entered the ranking. Only two companies – Ørsted, the power generator out of Denmark, ranked ninth, and Taiwan High Speed Rail Corp, ranked fifth – retained their positions from last year.

A dramatic departure?

The big changes may seem to signify a dramatic departure, but the designers of the methodology disagree. The rankings retain the same exclusionary screens and flags captured by many of the previous KPIs. For example, companies that register workplace fatalities, fines, et cetera, are penalized or excluded as they were in the past. The ranking also retains quotas for various industries so that manufacturers compete on the same sustainability terms as other manufacturers, banks against banks, wind and solar companies against other renewable-energy providers, and so on.

“What really matters to us is the contribution [these companies] are making to the low-carbon economy,” says Michael Yow, the director of rankings for Corporate Knights. According to Yow, the new streamlined methodology at once simplifies and standardizes reporting while differentiating the rankings from other international lists.

“In terms of performance, the G100 companies are back in top form, beating the benchmark MSCI AWCI index over the past year,” Heaps says, referring to a stock market index of 85% of global investable equities across almost 50 countries. He adds that the G100 underperformed the financial benchmark in recent years because of the Russia/Ukraine war, which led to spikes in oil prices, higher interest rates and increased military spending, improving the fortunes of companies excluded from the G100 list.

Sustainable revenues account for up to 61% of total revenues for ranked companies, versus just 17.3% for all other publicly listed companies. And despite it being a much larger chunk of their business, sustainable revenues for G100 companies are growing on average at double the rate of all their other revenues.

That momentum matters more than ever. The target of limiting global warming to 1.5°C has fallen conclusively out of reach, and the consequences from each additional 10th of a degree of warming are compounding exponentially. At the same time, the race to seize the opportunities from the green transition is heating up. G100 companies see the future and they’re moving toward it – some faster than others.

Tristan Bronca is a magazine writer and editor based in Newmarket, Ontario.

Not applicable: Companies in the CKPG asset management, banks and insurance companies are not scored on the sustainable investment KPI.

N.A.: Companies were not scored on the sustainable revenue momentum KPI because of the absence of 2022 sustainable revenue data. In the case of EU-based CKPG power generation and power transmission and distribution, the sustainable revenue momentum KPI was not applied because of high volatility in electricity prices in 2022 due to the Russia-Ukraine war.

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Worldwide, there are more than 95,000 private companies with annual revenues over US$100 million, compared to only 10,000 public companies over that threshold, according to a 2023 report from investment management firm Hamilton Lane. Private market assets grew to US$9.7 trillion in 2022, thanks to an increasing number of private equity funds and assets, up from about US$600 billion in 2000. And while private equity markets declined the past two years, McKinsey’s Global Private Markets Report for 2025 shows that a rebound is underway, with 30% of respondents saying they plan to increase their allocations. 

Historically, private companies are more, well, private. They don’t have the same regulatory requirements to disclose information that public companies do, especially when it comes to revenues and profits. But with sustainability, there are reasons to be more forthcoming. Private companies are increasingly eager to report on their environmental, social and governance (ESG) performance and their sustainability investments amid the public’s growing appetite for companies that are trying to be good corporate citizens. For example, a McKinsey study found that products making ESG-related claims grew on average 8% faster than those that don’t.

It’s these companies that Corporate Knights has chosen to focus on in its inaugural Private 25 Most Sustainable Corporations ranking.

Private companies can play an outsized role in setting the pace of the sustainability transition.

-Toby Heaps, co-founder and CEO of Corporate Knights

Toby Heaps, co-founder and CEO of Corporate Knights, says the ranking was a natural next step, given how eager many companies are to report on their ESG progress. “The really interesting thing about privately held companies is that their governance creates more space to make big bets and pivot to the future – in this case a sustainable future,” Heaps says.

The global list includes companies in a range of industries, from consumer goods and transportation to forest products, energy and power distribution. Companies in Europe and the United Kingdom dominate the ranking, although a few are from Canada. No U.S. companies are on the list, which Heaps says could be due to liability concerns: “U.S. corporate disclosure is subpar for public companies, and this holds for private companies as well.”

The ranking includes key performance indicators (KPIs) in areas such as energy, water, and waste, and governance factors like gender diversity. It also includes sustainable revenue and investment categories. 

The top-ranked companies scored high on sustainable KPIs and revenue/investment. For example, the first-place Netherlands-based Accell Group, which makes bicycles, e-bikes and parts and accessories, scored 100% in both the investment and revenue categories. It also scored 70% in both energy productivity and carbon productivity.

Heaps says the new annual ranking is a benchmark for private companies to improve their sustainability practices and gives consumers more information about what brands are doing to help society and the planet. “Because of their governance structure, private companies can play an outsized role in setting the pace of the sustainability transition – and this ranking shows which companies are leading the way.”

1. Accell Group NV

Purpose-driven bicycle maker

Netherlands-based Accell Group makes bicycles and e-bikes that are sold in more than 80 countries. Its stable of brands includes Haibike, Raleigh and Babboe. The purpose-driven company says it doesn’t just build bikes: “We’re creating experiences that move the world forward,” supporting healthy citizens, livable cities and a healthier environment. “We are convinced that sustainable production and products will ultimately add value to our company, which will in turn create new opportunities.”

2. Dolomiti Energia Holding SpA

Italian renewables powerhouse

Dolomiti Energia Holding is an Italy-based company that distributes electricity, natural gas, heat and water through its multiple subsidiaries. It also has business in electric mobility and environmental services. The company says it generates an average of almost 4,000 gigawatt hours of electricity, 98% from certified renewable sources, mostly hydroelectric power. It also says it has installed capacity of around 28 megawatts of wind power and is developing photovoltaic plants with a planned capacity of approximately 58 MW.

3. Amprion GmbH  

Grid transition enabler

Amprion is one of four transmission system operators in Germany. Its 11,000-kilometre-long high-voltage network transports electricity from the North Sea to the Alps, covering a population of 29 million people. Amprion says it’s “paving the way” for Europe’s energy transition to provide a climate-neutral, safe, secure and efficient energy system. A new project to transport wind energy to the Ruhr region “will make an important contribution to the security of supply in Germany and Europe in the future” as early as 2030, Amprion CTO Hendrik Neumann says.

4. Adevinta ASA

Circular-consumption champion

Norway-based Adevinta is an online classifieds group behind many popular digital marketplaces: Kijiji in Canada, leboncoin in France and Subito in Italy, among others. Through these platforms, Adevinta promotes “circular consumption” for individuals and businesses worldwide. The company’s “second-hand effect” conserves energy and raw materials, reduces greenhouse gases and minimizes waste. 

5. Oesterreichische Kontrollbank AG

Sustainable development bank

Oesterreichische Kontrollbank (OeKB) – or Austrian Control Bank – is a special-purpose financial institution owned by Austria’s main banks. Part of its activity is carried out on behalf of the Austrian government and backed by the state budget. OeKB focuses on five service areas: export, capital markets, energy markets, development financing and tourism. Its development bank provides concessional loans, or so-called soft loans, for sustainable projects that are implemented by Austrian companies in less developed countries. “Orientation towards the [UN] Sustainable Development Goals is a lived reality at OeKB,” board member Angelika Sommer-Hemetsberger says. 

6. Énergir 

Greening power distributor

Énergir is a Canada-based distributor of renewable and conventional gas, solar and wind power, and hydroelectricity for 525,000 customers in Quebec and Vermont. Last year, it attracted $575 million in investments to help it roll out its decarbonization plan and announced that all new customers will be powered by 100% renewable energy. “We have made promising commitments for the future, further extending our willingness to be part of the solution,” president and CEO Éric Lachance said.

7. BGIS

Eco-friendly facilities management

Heating and cooling buildings accounts for about 33% of greenhouse gas emissions globally, which is why driving down those emissions is central to BGIS (Brookfield Global Integrated Solutions) – a Canada-based facilities management and real estate services company. The company promotes sustainable practices that reduce energy use, conserve water and reduce waste. “On an annual basis, we identify 15,000 metric tons of [carbon dioxide equivalent] savings for our clients,” BGIS says.

8. Heathrow SP Ltd

Pursuing low-carbon air travel

Flying is notoriously carbon intensive, but Heathrow SP Ltd., the company behind London’s Heathrow Airport, is working on cutting up to 15% carbon “in the air” by 2030 (using waste-based aviation fuels) and at least 45% carbon “on the ground” by 2030. Since 2019, it has cut air carbon by 7.5% and ground carbon by 15%. “Even during a traditionally quiet month for aviation in February, we saw sustained and growing demand to fly and export through Heathrow,” CEO Thomas Woldbye says. “Reaching net-zero as we grow remains vital.”

9. Motability Operations

Electrified mobility backer

London-based Motability Operations runs the Motability Scheme, a U.K. program to help people with disabilities lease new cars, scooters or powered wheelchairs. The company aims to achieve net-zero emissions by 2050, in line with the Paris Agreement, largely by helping its customers switch to electric vehicles. The company says it has transitioned more than 70,000 customers to date. It is also helping to address barriers to shifting to EVs by covering the cost of insurance and servicing and by providing a charging card that facilitates powering up at more than 50,000 charge points. 

10. Go-Ahead Group Ltd

Net-zero-aligned transporter

Go-Ahead is a U.K.-based bus and rail operator for public transport. It runs a fleet of more than 6,000 electric buses across England and a quarter of the buses for London’s transport network. Internationally, the company operates buses in Singapore, Ireland, Sweden and Australia, as well as rail franchises in the United Kingdom, Sweden and Norway. Go-Ahead aims to become a net-zero business by 2045 and has outlined clear milestones along the way, including decarbonizing its bus fleet and eliminating all remaining diesel trains from its networks by 2035.

11. Kruger Products Inc

Responsible paper products

Kruger Products is a maker of well-known tissue, paper and packaging products such as Scotties, Purex and Sponge Towels. The Canadian company says it recycles thousands of tonnes of paper and paperboard and works to reduce greenhouse gas emissions at its plants across North America. The company says it is committed to sourcing only third-party certified fibre and has a large portfolio of offerings certified by the Forest Stewardship Council.

12. Biffa PLC

Conscientious waste management

U.K.-based Biffa is an integrated waste-management business that also provides technology-driven energy-generation services for commercial, industrial and public-sector customers throughout the United Kingdom. Biffa has a partnership with Company Shop Group to collect and redistribute surplus food. The company also does environmental work with WasteAid, an independent charity working with communities in low-income countries to share simple, low-cost ways to cut back on waste. Biffa says it has reduced carbon emissions by 70% since 2002 and aims to be net-zero by 2050. 

13. Voith GmbH & Co KGaA

Industrial sustainability leader

The Voith Group is a major Germany-based technology company operating in the energy, paper, raw materials, transport and automotive sectors. Voith’s biggest sustainable claim to fame: a quarter of the energy generated worldwide from hydropower is produced with turbines and generators from Voith Hydro. “Industrial sustainability is our business model,” former CEO Toralf Haag said. “In this way, we make a decisive contribution to a climate-neutral industry and at the same time secure our growth.” Jan Lüder, incoming CEO of Voith Hydro, is poised to grow the company’s hydro operations to capitalize on the growth opportunities of the global energy transition.

14. Tod’s SpA

Conscious Italian footwear

The Tod’s Group is an Italian luxury footwear, leather goods and clothing company, behind its brands Tod’s, Roger Vivier, Hogan and Fay. The company says that 100% of its energy for its Italian operations comes from renewable sources and that about 6,000 recovered leather goods and linings were included in upcycling projects. It also aims for gender diversity: 58% of managers are women. It has a particular interest in fostering the local economy, with 99% of its raw materials for its Italian operations purchased from local suppliers.

15. Robert Bosch GmbH 

Sustainable tech solutions

The Bosch Group is a Germany-based technology and services company best known for its appliances, but it also has activities in mobility, industrial technology, and energy and building technology. By 2023, Bosch reported that 99% of its electricity requirements were met by green energy. The company says that it plans to spend more than a billion euros on heat-pump technology and that it will invest roughly €2.5 billion in hydrogen technologies between 2021 and 2026. It has committed to investing €1 billion to increasing energy efficiency by 2030.

16. Sofidel SpA

Low-impact paper producer

Italy-based Sofidel is a global manufacturer of tissue paper whose best-known brand is Regina. The company has committed to reaching net-zero carbon emissions by 2050. Some of the actions underway include using new technologies to boost energy efficiency, moving to electrification, and using more renewable energy, bio-based fuels and green hydrogen. The company has also committed to employing more forest management practices, reusing and reducing packaging with renewable materials, and exploring carbon-removal technologies. 

17. Ikea

Eco-savvy furniture maker

Founded in 1943, popular home-furnishing company Ikea has committed to halving its value-chain emissions by 2030 and reaching net-zero by 2050. The company says it has already shrunk its total climate footprint by 22% compared to 2016 – with half those reductions made in the last year alone. The company is focusing on using only “responsibly sourced renewable or recycled materials.” More than 9,500 of its products have been assessed for circularity, and more than 23 million assembly parts were offered to customers in 2023 to extend the life of their products. 

18 Topsoe A/S

Carbon-reduction innovator

Denmark-based Topsoe, founded in 1940, makes emission-reduction technologies, helping to turn renewable resources into fuels and chemicals. Some of its early technologies included solutions to reduce sulfur and other pollutants from fossil fuel emissions to environmentally safe levels. Today, its products support the energy transition by using feedstock and used cooking oil to decarbonize fuel. Some of its recent projects include lending its technology to China’s Chuangui New Energy company to help it avoid an estimated 800,000 tons of carbon dioxide equivalent by using sustainable aviation fuels and renewable diesel.

19. Assemblin Caverion Group AB 

Smart building services

Sweden-based Assemblin Caverion Group is a northern and central European technical-service and -installation company formed in 2024 from the merger of Assemblin and Caverion. Its main activities include building services such as mechanical, electrical, plumbing, HVAC and building automation, as well as smart technologies and digital solutions. In 2023, Assemblin boosted its proportion of electric and hybrid vehicles to 24% and decreased its carbon footprint per employee by 6.7%. 

20. Domtar Corp (formerly Paper Excellence Group)

Paper products powered by renewables

Paper Excellence Group is a forest-products company rebranded as Domtar Corp. in 2024. Domtar has dual headquarters in the United States and Canada, and it produces more than nine million tonnes of pulp, paper, packaging and tissue and about three billion board feet of lumber and other wood products. The company’s 2023 sustainability report says that it used 66% renewable energy in its pulp and paper mills and that 59% of the electricity in its mills was self-generated. 

21. Tetra Pak AB

Packaging innovator 

Switzerland-based Tetra Pak, known for its food and beverage packaging, also makes processing equipment, filling machines, distribution equipment and spare parts. The company says it used 89% renewable energy across its operation in 2023 and reduced emissions across its value chain by 20% compared to its 2019 baseline. Tetra Pak gets 6% of its revenue from making plant-based packaging and has plowed roughly one-third of its investments into collection and recycling projects, as well as solar power. 

22. Lego A/S

Greener toys 

The Lego Group is the company behind the famous Lego bricks. Based in Denmark, with manufacturing facilities worldwide, the company has a target to reduce  emissions by 37% by 2032, compared to 2019, and achieve net-zero emissions by 2050. That means reducing waste and water usage and eliminating single-use plastic from all its products. The company says that in 2025 it will have doubled its spending on sustainable initiatives compared to 2023. In February, it announced it was introducing Lego pieces containing recycled materials from engine oil and fishing nets.

23. ContourGlobal Ltd 

Transition-forward power producer

U.K.-based ContourGlobal is an independent power producer that manages about 6.2 gigawatts of installed capacity in 18 countries. Its sustainability strategy covers four areas: decarbonization, performance optimization, development and partnership growth, and portfolio innovation in emerging clean technologies. The company recently closed a green bond offering that will help it transition to predominantly renewable sources of power. To do that, it’s working on accelerating renewable-energy development and scaling up battery storage.

24. Imperial Logistics Ltd

Responsible logistics

Imperial Logistics provides logistics and supply-chain management services across industries, mostly in Africa and Europe. Its supply-chain control-tower services leverage data analytics and automation to improve efficiency throughout supply chains. Imperial is also piloting more efficient truck technologies and working to reduce water consumption and manage hazardous chemicals and waste. In 2022, Imperial became a wholly owned business of DP World.

25. Celulosa Arauco y Constitución

Ethically produced paper 

Also known as Celco or Arauco, Celulosa is a Chilean wood, pulp, engineered wood and forestry company. It says it is the first forestry company in the world to be certified as carbon-neutral. It uses cellulose and the pulp of pine and eucalyptus trees to produce sustainable fibres for textiles, packaging products, hygiene products such as diapers, and a wide range of engineered wood planks. In its 2023 sustainability report, the company said that it had planted 131.6 million trees in Chile, Argentina, Brazil and Uruguay, harvested 19.7 million and purchased 6.5 million cubic metres of timber.

Brenda Bouw is a freelance writer and editor based in Vancouver.

Read more: The 2025 Public 25 most sustainable public-sector companies in the world

*N/A: Not applicable. Banks, asset management and insurance peer groups are not assessed on the sustainable investment KPI. The weight of this KPI has been reweighted to the sustainable revenue KPI.

Methodology

Our methodology for the new Corporate Knights Private 25 and Public 25 rankings uses a mix of fixed- and variable-weight ESG and sustainable-economy KPIs to score companies against their peers. We measure the share of revenues and investments that are included in the Corporate Knights Sustainable Economy Taxonomy and percent rank those ratios against the company’s CKPG (Corporate Knights Peer Group). We then give equal weight to the ratios and the percent ranks in awarding up to 25 points for sustainable revenue and up to 25 points for sustainable investment, for a total of 50 possible points.

The other 50 points are allocated to 10 ESG KPIs, including productivities for energy, carbon, waste and water, along with board and executive gender and racial diversity, taxes paid and injury rate. In addition, penalties are levied against overall scores for a number of factors, including injuries and fatalities.

The post The 25 most sustainable private companies in the world appeared first on Corporate Knights.

Canadian public-sector companies represent an outsized share of the effort, representing more than half, or 13, of the top 25, in addition to companies from across Europe and Australia.

From the ranking leader Hydro-Québec’s $155-billion green-energy expansion plan, to 12th-place Bpifrance bank’s financing solar and wind power loans, the inaugural list shows how investments in renewable energy pay off. There’s a continued push toward innovation, such as that displayed by the Royal Canadian Mint (#4) and the purchase of equipment that boosts the amount of material it recovers from its silver bullion blanking process. While the United Kingdom’s Network Rail Ltd. (#7) has drawn revenue by electrifying routes, Farm Credit Canada has seen returns on “women entrepreneur loans” totalling more than $2.9 billion.

1. Hydro-Québec

Hydro-Québec has been a leader in clean hydroelectric energy for the last 75 years, the exports of which have enriched the province to the tune of $4 billion in 2024 alone. Now, the company is boosting its investments in windenergy. Already, 44 wind farms generate more than 4,000 megawatts (MW), and that figure will climb to 10,000 MW as part of Hydro-Québec’s Action Plan 2035. This future power output – enough for about two million households – is a critical element of its strategy to decarbonize sectors like transportation and building heating. This all part of the utilities program to invest between $155 and $185 billion in green energy by 2035.

2. Toronto Hydro

Toronto Hydro is the final leg of electricity delivery to nearly 1.7 million households in Canada’s largest city. By 2040, the company has pledged to reach net-zero emissions in its operations, which will expand in an effort to help the city reach its own net-zero goals. Toronto Hydro estimates it will invest $10 billion in climate infrastructure across the city – EV charging, equipment renewal, etc. – before 2050, and 75% of the city’s net-zero strategy relies on these investments. Toronto Hydro reported that in 2022, there was an 8% reduction in its emissions over the previous year, representing a 40% reduction over 2018.

3. Statnett

“We are facing an increasingly challenging threat landscape,” says Statnett CFO and executive vice president Cathrine Lund Larsen, referring to geopolitical tensions in Europe and the increasing frequency of extreme weather events. Despite these challenges, the owner-operator of Norway’s transmission grid recorded 1.7 billion kroner in profit for 2024. The company plans to more than double its investment in the country’s power systems over the next 10 years. It will do so under new sustainability reporting requirements, with carbon dioxide pricing on construction contracts, and with a focus on minimizing the impact on Norway’s natural areas.

4. Royal Canadian Mint

In 2023, Canada’s coin producer released its inaugural Impact Report and committed to making its manufacturing carbon-neutral by 2030. To meet this goal, the Royal Canadian Mint has taken major steps, including a massive investment in new geothermal power infrastructure at the Winnipeg Mint. In 2023, the Mint offset 491 tonnes of emissions, and it is now pioneering more sustainable methods of gold refining and mineral sourcing. Today, thanks to the Mint’s sustainability and recycling efforts, 88% of coins in circulation are recirculated, dramatically curbing the demand for new coin production.

5. Alectra

Alectra is a utilities company that services more than one million homes and businesses around the Greater Toronto Area. Since the inception of its Green Energy and Technology Centre – described by Brian Bentz, the company’s president and CEO, as “the think tank, collaboration hub, and ground zero for innovation” – Alectra has launched new initiatives to modernize the grid, use AI for infrastructure management and explore multiple pilot projects for incorporating new technology. Since 2016, the company has achieved about a 17% reduction in its own emissions and has pledged to be carbon-neutral by 2050.

6. Société de Transport de Montréal

The Société de Transport de Montréal has been a force for economic growth and sustainable development in Quebec. The service transports 1.1 million people on average on a business day, and its ridership has been growing, with 2024 seeing a 9.2% increase over 2023. According to its Sustainable Development Plan 2030 and a 2016 study, roughly 20 tonnes of emissions can be saved for every one that STM emits. STM is currently electrifying its fleet and implementing new improvements to its bus and rail infrastructure; currently, 48.6% of its bus fleet is either hybrid or electric. Two of STM’s projects have been LEED Gold-certified, and two major infrastructure projects have received the Envision award.

7. Network Rail

Network Rail owns, operates and develops more than 20,000 miles of track; 30,000 bridges, tunnels and viaducts; and thousands of transit stations across the United Kingdom. The company is aiming to achieve net-zero carbon emissions across its operations by 2050 and has taken major steps toward achieving that goal, including electrifying the busiest parts of its system, purchasing more renewable energy and trialling new hydrogen and battery trains. These sustainability plans also require building more resilient infrastructure to account for increasingly severe weather events, and the creation of biodiverse havens across 52,000 hectares of land occupied by its rail networks.

8. Export Development Canada

Export Development Canada is a crown corporation that strategically invests to help Canadian companies expand internationally. Since pledging to reach net-zero emissions in 2050, EDC set a number of interim targets that it has achieved ahead of schedule. In 2023, EDC provided a record $12.2 billion in support for cleantech businesses, beating its target of $10 billion by 2025. The corporation also reduced its exposure to its most carbon-intensive sectors – including upstream oil and gas – by 69% over 2018, exceeding the original 45% target. This year, EDC introduced a new framework to classify, track and report on the sustainability of all its investments.

9. Fingrid

Finland has a famously clean energy system. Last year, 95% of the country’s power production was emission-free thanks to the preponderance of nuclear and wind power. Now that the country’s energy needs are rising quickly, Fingrid, the public company that administers the country’s grid, has risen to meet the challenge. The amount of energy produced by wind energy is expected to rise to 9,500 MW, up from just 1,800 MW five years ago, and the company is now offering green bonds to help finance €4 billion in investments to help the country meet its net-zero targets by 2035.

10. Statkraft

Statkraft is Norway’s energy producer and the largest generator of renewable energy in Europe, including hydropower, wind power – with a portfolio that has expanded to include projects in South America and India – and solar. In total, about 97% of the energy Statkraft generates comes from renewables, and 100% of its profits are reinvested in renewables, both in own operations and across a wide range of initiatives in biofuels and green hydrogen.

11. Manitoba Hydro-Electric Board

Manitoba Hydro has been quantifying and reporting its own greenhouse gas emissions for the last 30 years. The crown corporation is one of the largest integrated electricity and natural gas utility companies in Canada, serving more than 600,000 electricity customers and nearly 300,000 for natural gas. Nearly all of Manitoba’s electricity – an estimated 99.6% – comes from renewables. The company had set a voluntary threshold for emissions on its operations of 520 kilotonnes (kt) based on stepwise reductions from 1990 levels. In 2023, it came in at just 128 kt: 75% lower than its target.

12. Bpifrance

Bpifrance is a French public-sector bank that bills itself as a “one stop shop for entrepreneurs.” The bank has more than €100 billion in assets and strategically invests in initiatives to promote a “more inclusive and sustainable French economy.” That now includes €7.6 billion in financing for projects powering the country’s ecological and energy transition, and a commitment to exclude coal, gas and oil from its investments. Bpifrance has also committed to reducing its own emissions by 55% before 2030 and has received exemplary assessments from five separate ESG ratings agencies.

13. EPCOR Utilities

“The ironic thing about sustainability is that it’s hard to sustain” – it’s an odd sentiment to hear in a sustainability report, but it’s one that underscores EPCOR’s commitment to getting its strategy right. Formerly the Edmonton Power Corporation, EPCOR manages the city’s water, wastewater, natural gas and electricity distribution. It also operates in other Canadian provinces and in Arizona, New Mexico and Texas. The utility spent years fine-tuning its sustainability strategy to ensure that it made sense long-term. That evolution has resulted in reductions in EPCOR’s gas emissions, a 95% wastewater reuse rate in parched regions of the United States, and $4.9 billion in economic value delivered across multiple jurisdictions.

14. Vygruppen

The Vy Group is the largest land-based transport group in the Nordic countries. Owned by the Norwegian government, it operates rail passenger services, bus fleets, freight services, as well as in various tourism capacities. Last year, the company transported 213 million passengers, an emissions savings of about 400,000 passenger vehicles. Vy has developed a set of guidelines aimed at saving the country one million tonnes of carbon dioxide equivalent by the end of this year. In pursuit of this goal, it has already electrified nearly half of its fleet of buses and continues to expand less carbon-intensive forms of transport.

15. British Columbia Hydro and Power Authority

BC Hydro services 95% of British Columbia’s population – more than five million people. The company boasts some of the cleanest power generation anywhere in North America, with 91% of its power coming from hydroelectric sources. Its subsidiary, Powerex, is a net exporter of clean energy to Alberta, Washington State, Oregon and California. Though BC Hydro contributes less than 1% of the province’s total emissions, by 2023 the company had already achieved a 61% reduction in emissions over its baseline. New studies and programs are underway to help the company better deal with climate-related risks, including fires, drought and storms.

16. NBN

NBN is Australia’s broadband provider, a company tasked with building and operating the network that connects the island continent. About seven in 10 homes and businesses in rural and regional Australia are currently served by fixed-line technology, but by the end of this year, NBN’s network upgrades will ensure that 1.6 million more Australians have access to fibre connections. In a country that is uniquely vulnerable to climate risks, NBN’s goal is to “operate a climate-resilient, resource-efficient network.” In 2024, the company lowered its emissions 19% compared to its 2021 baseline and pledged to implement 100% renewable-energy use for its own operations by the end of this year.

17. Alliander

Alliander is the developer and operator of the Netherlands’ energy networks. Last year, the Dutch company’s operations were carbon-neutral, a feat it achieved by greening its fleet of vehicles, reducing energy use in its buildings and IT systems, and limiting grid losses. But there is more work to be done. Electricity accounts for about 18% of the country’s total energy use, but that figure is expected to rise to 50% by 2050. Last year alone, the company invested €1.8 billion in its infrastructure, and there is now additional focus on eliminating supply-chain-related emissions.

18. European Investment Bank

The European Investment Bank is the European Union’s investment bank and one of the largest financial institutions in the world. It is also one of the biggest green financiers globally. It was the world’s first financial institution to issue green bonds, back in 2007, and in 2019, it announced that it would stop funding fossil fuel projects – a move that accompanied a promise to invest €1 trillion in climate and environmental projects by 2030. Most recently, those projects include a major hydroelectric project in Spain and renewable-energy initiatives in Chile, among many others. In 2024, the bank invested an estimated €44.8 billion in climate action and environmental sustainability, which was about 60% of its total financing.

19. Farm Credit Canada

With the global population expected to increase to 9.7 billion by 2050, Canada remains one of very few nations capable of meeting the projected demand for agricultural production. Facing unprecedented natural threats, Farm Credit Canada has mobilized new resources to support a wide range of producers – from Quebec’s maple syrup sector, whose yields suffered from unseasonable warmth in 2023, to B.C. winemakers whose vines were destroyed by the 2022 winter, to Alberta farmers affected by record-breaking wildfires. Last year, FCC invested $2.2 million in new agricultural tech and awarded more than $825,000 to promote new sustainable farming practices.

20. PostNord

PostNord is a logistics company jointly owned by Sweden and Denmark. In 2023, it delivered 243 million parcels across a network that spans virtually all the countries in the world. PostNord has taken steps to make its fleet emissions-free by 2030. This effort began with its “green corridors” initiative. PostNord’s routes between its largest cities and terminals are now fossil-fuel free, a move that has already saved more than 3,000 tonnes of emissions. As a result, today about 40% of deliveries to Swedish recipients – about 3.9 million parcels – are made sustainably.

21. Saskatchewan Telecommunications Holding Corporation

SaskTel is Saskatchewan’s telecom company. It operates the province’s landlines, mobile networks and internet services. Since 2008, it has been publicly recognized as “one of Canada’s greenest employers,” not only for its work reducing emissions in its operations, but for minimizing waste and for its employee-driven community initiatives. In total, SaskTel donated $2.9 million in not-for-profit and charitable sponsorships last year, recycled more than 143,000 phones, and raised additional funds to support new biodiversity projects.

22. Electricity Supply Board

Ireland aims to decarbonize its electricity system by 2040. The Electricity Supply Board, which is owned and operated by the Irish government, supplies electricity and gas to almost 1.9 million customers across the island. In 2024, it connected 534 MW of new renewable electricity generation to the grid. By 2030, the company aims to meet 80% of demand from renewables, including not just wind and solar, but dedicated zero-emission gas-fired power generation from biomethane and hydrogen. These efforts also include a plan to actively restore ecosystems affected by ESB’s projects – both on land and offshore.

23. Ontario Power Generation

Ontario Power Generation administers approximately 160 power stations, including more than 150 hydroelectric stations, thermal stations, solar facilities and wind generation stations. But almost half of the 18,000-plus MW of power generated comes from just three nuclear power plants. Now, the Darlington plant is the first in North America to develop small modular reactors.

24. Corporación Nacional del Cobre de Chile (Codelco)

The mining industry has a sustainability problem, says Codelco CEO Rubén Alvarado Vigar. In a 2023 letter, the head of the largest copper producer on the planet wrote that his “obligation is to trigger a profound break so that we become a sustainable industry that cares about the environment.” The company has made six commitments to this end, including implementing a clean electrical matrix, reducing inland water use, recycling 65% of non-hazardous waste, introducing new controls around tailings facilities, and improving air quality.

25. Canada Post

As of early 2024, there were fewer than 10 companies globally in the logistics and transportation sector to have a net-zero target recognized by the Science Based Targets initiative; Canada Post was one of them. In 2023, the Crown corporation delivered 168 million carbon-neutral shipments, alongside several other environmental achievements, including a 18.9% reduction in emissions and the diversion of 67% of waste from landfills. The company continues to pursue its goal of reaching net-zero emissions across its entire value chain by 2050.

Tristan Bronca is an award-winning magazine writer and editor based in Toronto. 

Read more: The 2025 Private 25 most sustainable private companies in the world

*N/A: Not applicable. Banks, asset management and insurance peer groups are not assessed on the sustainable investment KPI. The weight of this KPI has been reweighted to the sustainable revenue KPI. 

Methodology

Our methodology for the new Corporate Knights Private 25 and Public 25 rankings uses a mix of fixed- and variable-weight ESG and sustainable-economy KPIs to score companies against their peers. We measure the share of revenues and investments that are included in the Corporate Knights Sustainable Economy Taxonomy and percent rank those ratios against the company’s CKPG (Corporate Knights Peer Group). We then give equal weight to the ratios and the percent ranks in awarding up to 25 points for sustainable revenue and up to 25 points for sustainable investment, for a total of 50 possible points.

The other 50 points are allocated to 10 ESG KPIs, including productivities for energy, carbon, waste and water, along with board and executive gender and racial diversity, taxes paid and injury rate. In addition, penalties are levied against overall scores for a number of factors, including injuries and fatalities.

The post The 25 most sustainable public-sector companies in the world appeared first on Corporate Knights.

If there’s one thing the private sector craves most from government, it’s clear, stable policies. But in the coming year, many businesses will have no such luck as they navigate major changes to the global tax and regulatory environment that has been encouraging investment in more sustainable technologies and practices.

While the new U.S. president will be taking aim at legislation that resulted in nearly US$300 billion in private-sector investments in clean energy, battery manufacturing and clean power generation, most business leaders recognize that concerns about a worsening climate crisis will grow regardless of shifting political winds. The costly impacts of climate change and, more than anything, the declining costs of low-carbon technologies continue to drive investment in solutions.

Corporate Knights’ Global 100 ranking of the world’s most sustainable firms, now in its 21st year, shows that the top firms continue to increase their investment in the green transition. Even with higher interest rates in recent years, leading corporations have expanded their sustainable investments, which has resulted in a growing share of income being derived from sustainable revenue sources.

“We’re finding that growth in sustainable revenues is outpacing all other revenues,” says Toby Heaps, co-founder and CEO of Corporate Knights. “Over the last five years for major global public companies, sustainable revenues are growing twice as fast as other revenues, and they now represent over $5 trillion of annual revenues for the 3,000 biggest companies that we track.”

“With sustainable investment, it’s the same story,” Heaps says. “Sustainable capital expenditure is growing twice as fast as all other capex.” That green investment is key to a more sustainable future, telling us where companies are going as opposed to where they currently derive their revenues.

The firms in the 2025 Global 100 ranking allocated 58% of their investments to sustainable projects in 2023, up from 55% in the prior year. That figure compares with sustainable investments of just 15% for the 8,259 other publicly traded companies with revenues of more than $1 billion in the Global 100 universe.

2025 Global 100

Note: Banks, asset management and insurance peer groups are not assessed on the sustainable investment KPI. The weight of this KPI has been reweighted to the sustainable revenue KPI.

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Bumpy Road

For most of its 20-plus-year history, the Global 100 has outperformed its MSCI ACWI benchmark on total investment return. However, the MSCI ACWI nudged ahead of the Global 100 this year thanks mainly to the updraft in AI stocks, and, to a lesser extent, the rally of oil and weapons stocks, sectors that are not particularly strong on sustainability. This updraft effect, combined with high interest rates that depressed stock prices of firms spending big on transforming their assets (such as those leading the clean energy transition), led to the Global 100 underperforming over the past two years.

That said, the world’s top companies are staying the course, knowing that speed bumps won’t stop progress toward a more sustainable and inclusive economy.

French-based Schneider Electric SE climbed to the top of the 2025 Global 100, up from seventh place last year, thanks to a high level of sustainable investment and revenue, its leading performance on gender diversity, and the low carbon intensity of its production. Like the majority of companies on the Global 100, Schneider isn’t a consumer-facing household name; rather, it provides the nuts, bolts and technology for the green transition, including building energy controls, off-grid solar and EV charging and grid automation (read our top company profile). It also happened to rake in record-breaking revenues in 2024, built on continued demand for energy management.

Last year’s leader, Australian waste management company Sims Ltd., is in second place this year, while Danish wind manufacturer Vestas Wind Systems S/A is in third. Both Sims and Vestas are pure-play companies that derived 100% of their revenue from and allocated 100% of their investment to sustainable projects.

New to the Global 100 ranking for 2025 are Türkiye Sinai Kalkinma Bankasi, a national industrial bank based in Istanbul, and American manufacturer BorgWarner Inc., which produces battery systems, fast chargers and electric motors for mobility applications. Michigan-based BorgWarner’s high growth in sustainable revenue was particularly fuelled by the popularity of EV components, such as its electric powertrains.

Danish jewellery manufacturer Pandora also joined the ranking for the first time as its recycled gold and silver inputs jumped to 97% in 2023, from 61% the previous year.

Canada has 11 companies represented in the Global 100, second only to the United States, which has 15. The Canadian contingent is led by engineering firms Stantec Inc., which aimed 82% of its capital expenditure at sustainable investing in 2023, and WSP Global Inc., which earned 64% of its revenue from sustainable sources that year.

Canadian insurers Sun Life Financial Inc. and Manulife Financial Corp. both earned spots in the Global 100 ranking, as did telecommunications giants BCE Inc., Telus Corp. and Cogeco Communications Inc. (The Corporate Knights ranking allocates spots by sectors to reflect the global economy. For example, 16% go to financial institutions and 7% are reserved for telecoms.)

Green snakes and ladders

Staying on the ranking can be a challenge. The Bank of Montreal had been dropped from the 2024 ranking but regained its place in this year’s version. The bank improved on a number of metrics, notes Matthew Malinsky, director of sustainable economy intelligence for Corporate Knights. BMO saw gains in sustainable revenue, its CEO-to-average-worker pay ratio, racial diversity and its sustainability pay link in which 10.3% of the CEO’s pay is tied to achieving the company’s social and environmental goals. The bank has a rapidly growing green loan book and has provided just under $40 billion in renewable-energy financing since 2019.

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Anglo American is also new to the ranking, bumping off Canada’s Teck Resources (which had been on the list for six straight years) as a result of Anglo’s sustainable investment growth of 19% and increases in sustainable revenues from mines tied to low-carbon-economy minerals such as copper and nickel.

Brookfield Renewable Partners also dropped from the ranking, despite its strength in sustainable investing and revenues. Brookfield was red-flagged by the non-profit shareholder advocacy group As You Sow over its investments in Westinghouse Electric Company, which manufactures rods that produce tritium used for nuclear weapons.

2025 Global 100 vs. the rest

Indicator	2025 G100	2024 G100	2025 average*	2024 average
Sustainable revenue (% total revenue)	53%	51%	15%	16%
Sustainable investment (% total investment)	58%	55%	15%	17%
Executive gender diversity	25%	24%	18%	19%
Board gender diversity	36%	35%	25%	25%
Executive racial diversity	10%	11%	10%	8%
Board racial diversity	12%	14%	12%	10%
Cash taxes paid (% of profits)	14%	14%	9%	14%
Carbon productivity ($ sales/tonnes GHGs)1	$1,305,869	$927,244	$640,248	$491,909
Energy productivity ($ sales/GJ energy used)2	$95,316	$479,161	$93,071	$160,630
Sustainability pay link	80/100	64/81	2830/8062	1882 / 6330
CEO–average worker pay ratio	79:1	85:1	60:1	74:1

* Large publicly traded companies (with more than PPP$1 billion in annual revenue), excluding the Global 100.

1 – For comparison purposes, the scope 2 portion of the Carbon Productivity numbers in this chart are calculated according to a market-based methodology. Please note that in prior year publications, scope 2 emissions were calculated using a location-based methodology

2 – Companies that have no net non-renewable energy use do not receive an energy productivity value but receive a 100% energy productivity score.

Room for improvement

There are areas where all Global 100 firms can improve. The top firms may be leaders in pursuing gender diversity on their boards, but only a handful (Autodesk, SMA Solar and Taiwan Cooperative Financial Holding Co Ltd) have reached gender parity at the executive level. And Global 100 companies perform no better in terms of racial diversity than the broader universe of large publicly traded companies.

The road to decarbonization and a more inclusive economy will become bumpier in the coming years given the current political backlash. However, corporate sustainability leaders appear to be committed to progressing down that path, as evidenced by more than two decades of the Global 100 rankings. 

Shawn McCarthy is an Ottawa-based writer.

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Methodology

The Global 100 methodology uses a mix of fixed and variable-weight ESG and sustainable-economy key performance indicators (KPIs) to score companies against their peers. We measure the share of revenues and investments that are included in the Corporate Knights Sustainable Economy Taxonomy and percent rank those ratios against the company’s peer group (CKPG). We then give equal weight to the ratios and the percent ranks in awarding up to 25 points for sustainable revenue and up to 25 points for sustainable investment, for a total of 50 possible points.

The other 50 points in the Global 100 are allocated to 22 ESG KPIs, covering environmental, social, governance and supplier sustainability themes.

In addition, penalties can be levied against overall scores for low performance on the following indicators: productivities for water, waste, VOC, NOx, SOx and PM; cash taxes paid; injury rate; and fatalities. Up to five points are deducted for companies that have been levied fines above a percentage threshold of their revenue compared to other companies. Lastly, the political influence KPI may earn a company 2.5 bonus points.

After analyzing data for 25 KPIs, using the Corporate Knights methodology, this year’s overall scores were converted to letter grades.

Awarded to the top company​

Above 75%

70% – 75%

65% – 70%

60% – 65%

55% – 60%

50% – 55%

45% – 50%

40% – 45%

35% – 40%

30% – 35%

25% – 30%

To learn more about Corporate Knights research, head to corporateknights.com/research-products.

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Previous Rankings

2024 GLOBAL 100

2023 GLOBAL 100

2022 GLOBAL 100

2021 GLOBAL 100

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The post 2025 Global 100 list: World’s most sustainable companies are still betting on a greener world appeared first on Corporate Knights.

As 2023 came to a close, the World Meteorological Organization declared it to be the hottest year on record. One week later, the Global Carbon Project shared more discouraging news: that despite global pledges to reduce emissions, greenhouse gases from fossil fuels hit a record high again in 2023. 

As the climate crisis exacts a punishing toll around the globe, we’re also getting better at solving problems. Corporate leaders are flowing a growing share of their revenues into investments that will accelerate the green transition, according to Corporate Knights research.

Now in its 20th year, Corporate Knights’ Global 100 ranking of the world’s most sustainable companies reveals the top firms that are increasing their investments in green solutions such as renewable energy, energy efficiency and the circular economy.

“When we launched the Global 100 in 2005, the green economy was a quaint idea. Many companies didn’t publish in-house sustainability reports. There were no standardized key performance indicators, and none of the companies were reporting the percentage of their revenue or investments that were green,” says Corporate Knights co-founder and CEO Toby Heaps. “We did the best job possible with limited qualitative corporate disclosure.”

“Now we can measure this green business exposure for the majority of companies and are able to count annual green investments that run into the trillions, growing six times faster than the economy at large,” Heaps says.

While many companies, particularly in the fossil fuel and banking sectors, resist any major departure from their lucrative business-as-usual path, the leaders are doubling down on sustainability. 

In the 2024 Global 100 ranking, the top-ranked firms allocated 55% of their investments to sustainable projects, up from 47% the year prior. That compares with sustainable investments at a paltry 17% among the broader universe of publicly traded companies with more than US$1 billion in annual revenue.

When we launched this ranking in 2005, the green economy was a quaint idea.

–Toby Heaps, co-founder and CEO, Corporate Knights

The increase in sustainable investment is a welcome sign that companies are changing course. “The fact that these companies are plowing more money into sustainable capital expenditure and R&D means that we expect them to have higher sustainable revenues in the near future,” says Matthew Malinsky, research manager for Corporate Knights.

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2024 Global 100 ranking 

2024 rank	2023 rank	Company	HQ location	Peer group	Carbon productivity	% Taxes paid	CEO to average worker pay ratio	% Gender-diverse board of directors	% Sustainable revenue	% Sustainable investment	Final grade	Climate commitments
1	14	Sims Ltd	Mascot, Australia	Waste management	$ 38,525	16%	36:1	38%	100%	100%	A+
2	3	Brambles Ltd	Sydney, Australia	Furniture and general manufacturing	$ 123,791	12%	61:1	36%	100%	100%	A	1.5°C, SBTi
3	2	Vestas Wind Systems A/S	Aarhus, Denmark	Machinery manufacturing	$ 141,969	19%	70:1	42%	100%	100%	A	1.5°C, SBTi
4	9	Taiwan High Speed Rail Corp	Taipei, Taiwan	Transit and ground transportation	$ 7,698	0%	11:1	15%	100%	100%	A
5		Nordex SE	Hamburg, Germany	Machinery manufacturing	$ 160,887	73%	82:1	33%	100%	100%	A	1.5°C, SBTi
6	15	Banco do Brasil SA	Brasília, Brazil	Banks	$ 1,106,800	17%	9:1	50%	29%	0%	A-	1.5°C, SBTi
7	7*	Schneider Electric SE	Rueil-Malmaison, France	Electrical equipment manufacturing	$ 102,400	16%	97:1	50%	72%	80%	A-	1.5°C, SBTi
8	18	Chr Hansen Holding A/S	Hørsholm, Denmark	Food and beverage manufacturing	$ 38,696	14%	34:1	50%	47%	71%	A-	1.5°C, SBTi
9	7	Stantec Inc	Edmonton, Canada	Business, engineering and personal services	$ 118,360	12%	60:1	50%	59%	60%	A-	1.5°C, SBTi
10		SMA Solar Technology AG	Niestetal, Germany	Semiconductor and electronic components manufacturing	$ 135,701	22%	15:1	33%	100%	100%	A-	SBTi
11	5	Autodesk Inc	San Francisco, U.S.	IT services except telecom and hosting	$ 517,478	19%		50%	93%	0%	A-	1.5°C, SBTi
12		WSP Global Inc	Montreal, Canada	Business, engineering and personal services	$ 152,031	16%	109:1	33%	57%	92%	B+	1.5°C, SBTi
13		Clean Harbors Inc	Norwell, U.S.	Waste management	$ 3,048	8%		45%	100%	100%	B+
14		Enphase Energy Inc	Fremont, U.S.	Semiconductor and electronic components manufacturing	$ 209,362	4%		14%	100%	100%	B+
15	65	Telefonaktiebolaget LM Ericsson	Stockholm, Sweden	Telephones and telecom equipment manufacturing	$ 174,040	18%	83:1	29%	47%	71%	B+	1.5°C, SBTi
16	35	SunPower Corp	Richmond, U.S.	Semiconductor and electronic components manufacturing		0%		22%	100%	100%	B+	SBTi
17	13	Ørsted A/S	Fredericia, Denmark	Power generation	$ 8,192	10%	35:1	50%	65%	99%	B+	1.5°C, SBTi
18		Alstom SA	Saint-Ouen, France	Non-road transport equipment manufacturing	$ 111,827	11%	31:1	38%	84%	92%	B+	SBTi
19	29	Neste Oyj	Espoo, Finland	Refining, petrochemicals and basic organic chemicals	$ 15,844	10%	14:1	25%	39%	92%	B+
20	10	Dassault Systèmes SE	Vélizy-Villacoublay, France	IT services except telecom and hosting	$ 318,772	14%	27:1	50%	66%	6%	B+	1.5°C, SBTi
21	51	Giant Manufacturing Co Ltd	Taichung, Taiwan	Non-road transport equipment manufacturing	$ 56,418	18%	227:1	9%	100%	100%	B+
22	28	City Developments Ltd	Singapore, Singapore	Real estate	$ 25,789	17%	38:1	20%	54%	64%	B+	1.5°C, SBTi
23		Trane Technologies PLC	Swords, Ireland	HVAC equipment manufacturing	$ 44,213	25%	126:1	45%	38%	29%	B+	1.5°C, SBTi
24		United Utilities Group PLC	Warrington, U.K.	Water and sewage treatment	$ 10,544	3%	71:1	40%	42%	100%	B+	1.5°C, SBTi
25		XPeng Inc	Guangzhou, China	Cars and trucks manufacturing, including parts	$ 264,119	0%		14%	100%	100%	B
26		Wheaton Precious Metals Corp	Vancouver, Canada	Asset management	$ 33,251,733	0%	5:1	30%	21%	0%	B	SBTi
27	4	Brookfield Renewable Partners LP	Hamilton, Bermuda	Power generation	$ 25,165	4%	58:1	33%	97%	100%	B
28	54	ERG SpA	Genoa, Italy	Power generation	$ 2,342	9%	22:1	42%	52%	100%	B	1.5°C, SBTi
29	74	Kesko Oyj	Helsinki, Finland	Grocery stores	$ 124,317	9%	110:1	29%	3%	10%	B	1.5°C, SBTi
30		Risen Energy Co Ltd	Ningbo, China	Semiconductor and electronic components manufacturing	$ 14,582	23%	21:1	0%	100%	100%	B
31	58	Severn Trent PLC	Coventry, U.K.	Water and sewage treatment	$ 5,751	2%	64:1	56%	50%	100%	B	1.5°C, SBTi
32		Hydro One Ltd	Toronto, Canada	Power transmission and distribution	$ 19,867	1%	9:1	40%	36%	98%	B
33		Zhuzhou CRRC Times Electric Co Ltd	Zhuzhou, China	Electrical equipment manufacturing		28%		9%	100%	100%	B
34	46	First Solar Inc	Tempe, U.S.	Semiconductor and electronic components manufacturing	$ 4,270	15%		25%	100%	100%	B	1.5°C, SBTi
35	53	Eisai Co Ltd	Tokyo, Japan	Pharmaceutical and biotech manufacturing	$ 188,590	16%	10:1	18%	49%	22%	B	1.5°C, SBTi
36	1	Radius Recycling	Portland, U.S.	Waste management	$ 19,067	5%	103:1	50%	95%	100%	B
37	87	Beazley PLC	London, U.K.	Insurance companies	$ 2,864,982	10%	11:1	45%	15%	0%	B	NZIA
38	20	Cascades Inc	Kingsey Falls, Canada	Packaging	$ 4,763	3%	66:1	38%	88%	86%	B	SBTi
39		EDP Renováveis SA	Madrid, Spain	Power generation		2%	7:1	33%	100%	100%	B	SBTi
40	32	Beijing Enterprises Water Group Ltd	Hong Kong, China	Water and sewage treatment	$ 3,828	8%		20%	94%	100%	B
41	49	Atea ASA	Oslo, Norway	Computers and peripherals manufacturing	$ 483,930	12%	23:1	38%	57%	38%	B	SBTi
42	64	Yadea Group Holdings Ltd	Wuxi, China	Non-road transport equipment manufacturing	$ 49,209	8%	7:1	13%	100%	100%	B
43		Li Auto Inc	Beijing, China	Cars and trucks manufacturing, including parts	$ 107,512	3%	95:1	13%	100%	100%	B-
44	69	Maxeon Solar Technologies Ltd	Singapore, Singapore	Semiconductor and electronic components manufacturing	$ 4,422	8%		0%	100%	100%	B-
45	31	Kering SA	Paris, France	Retail, except grocery and auto	$ 261,469	28%	151:1	46%	26%	5%	B-	1.5°C, SBTi, FCCA
46	86	Tesla Inc	Austin, U.S.	Cars and trucks manufacturing, including parts	$ 133,544	6%		25%	100%	100%	B-	1.5°C, SBTi
47		Umicore SA	Brussels, Belgium	Basic inorganic chemicals and synthetics	$ 57,259	17%	32:1	40%	12%	63%	B-	SBTi
48	41	SAP SE	Walldorf, Germany	IT services except telecom and hosting	$ 168,329	28%	30:1	44%	30%	3%	B-	1.5°C, SBTi
49	22	McCormick & Company Inc	Hunt Valley, U.S.	Food and beverage manufacturing	$ 80,976	14%		36%	46%	22%	B-	1.5°C, SBTi
50	79	NIO Inc	Shanghai, China	Cars and trucks manufacturing, including parts	$ 42,750	1%		17%	100%	100%	B-
51	42	BCE Inc	Verdun, Canada	Telecom providers	$ 75,217	8%	137:1	36%	24%	78%	B-	1.5°C, SBTi
52	76	Investec Ltd	Sandton, South Africa	Banks	$ 130,634	20%	43:1	43%	14%	0%	B-	NZBA
53		Novo Nordisk A/S	Bagsvaerd, Denmark	Pharmaceutical and biotech manufacturing	$ 336,603	19%	76:1	46%	4%	0%	B-	1.5°C, SBTi
54	47	Puma SE	Erlangen, Germany	Textiles and clothing manufacturing	$ 312,773	17%	226:1	33%	54%	0%	B-	SBTi, FCCA
55	63	Samsung SDI Co Ltd	Yongin-si, South Korea	Semiconductor and electronic components manufacturing	$ 14,103	9%	135:1	29%	87%	94%	B-
56		Rivian Automotive, Inc	Irvine, U.S.	Cars and trucks manufacturing, including parts		0%	55:1	43%	100%	100%	B-
57	59	Intesa Sanpaolo SpA	Turin, Italy	Banks	$ 195,778	26%	102:1	42%	16%	0%	B-	1.5°C, SBTi, NZBA
58	23	Novozymes A/S	Bagsvaerd, Denmark	Pharmaceutical and biotech manufacturing	$ 7,348	16%	35:1	27%	67%	14%	C+	1.5°C, SBTi
59		Elisa Oyj	Helsinki, Finland	Telecom providers	$ 57,863	11%	31:1	38%	16%	63%	C+	1.5°C, SBTi
60	89	Arçelik AS	Istanbul, Turkey	Appliances and lighting fixtures manufacturing	$ 224,900	6%		17%	10%	15%	C+	1.5°C, SBTi
61		Pirelli & C SpA	Milan, Italy	Plastic and rubber product manufacturing	$ 14,318	12%	548:1	20%	23%	16%	C+	1.5°C, SBTi
62		Singapore Telecommunications Ltd	Singapore, Singapore	Telecom providers	$ 37,135	7%	28:1	43%	12%	60%	C+	1.5°C, SBTi
63	12	Xinyi Solar Holdings Ltd	Wuhu, China	Glass and ceramics	$ 891	10%	213:1	11%	100%	100%	C+
64	48	Cisco Systems Inc	San Jose, U.S.	Telephones and telecom equipment manufacturing	$ 86,080	22%	366:1	42%	42%	0%	C+	1.5°C, SBTi
65	68	KB Financial Group Inc	Seoul, South Korea	Banks	$ 142,713	25%	11:1	33%	6%	0%	C+	1.5°C, SBTi, NZBA
66	61	Sanofi SA	Paris, France	Pharmaceutical and biotech manufacturing	$ 93,914	17%	98:1	38%	27%	10%	C+	1.5°C, SBTi
67	39	HP Inc	Palo Alto, U.S.	Computers and peripherals manufacturing	$ 259,083	15%	787:1	46%	78%	0%	C+	1.5°C, SBTi
68	52	Essity AB (publ)	Stockholm, Sweden	Packaging	$ 6,803	13%	65:1	38%	33%	10%	C+	1.5°C, SBTi
69		Equinix Inc	Redwood City, U.S.	Data processing, hosting services	$ 2,970	4%		40%	48%	1%	C+	SBTi
70		Unibail-Rodamco-Westfield SE	Paris, France	Real estate	$ 29,790	4%	26:1	50%	50%	8%	C+	1.5°C, SBTi
71	73	Apple Inc	Cupertino, U.S.	Telephones and telecom equipment manufacturing	$ 351,888	16%		33%	70%	1%	C+	1.5°C, SBTi
72	80	Ricoh Co Ltd	Tokyo, Japan	Computers and peripherals manufacturing	$ 70,161	19%	17:1	13%	51%	34%	C+	1.5°C, SBTi
73	45	Cogeco Communications Inc	Montreal, Canada	Telecom providers	$ 77,783	6%	54:1	50%	26%	28%	C+	1.5°C, SBTi
74		Solaredge Technologies Inc	Herzliya, Israel	Semiconductor and electronic components manufacturing	$ 73,903	19%		50%	94%	43%	C+
75		Telefônica Brasil SA	São Paulo, Brazil	Telecom providers	$ 250,602	2%	90:1	33%	12%	53%	C+
76	38	Unilever PLC	London, U.K.	Personal products (retail chemical)	$ 53,579	23%	98:1	38%	2%	4%	C+	1.5°C, SBTi
77	36	Xerox Holdings Corp	Norwalk, U.S.	Computers and peripherals manufacturing	$ 56,147	6%		25%	75%	11%	C	1.5°C, SBTi
78	43	Coloplast A/S	Humlebæk, Denmark	Medical equipment manufacturing	$ 71,029	19%	43:1	33%	9%	0%	C	1.5°C, SBTi
79	77	Sun Life Financial Inc	Toronto, Canada	Insurance companies	$ 549,255	15%	124:1	50%	6%	0%	C
80	34	StarHub Ltd	Singapore, Singapore	Telecom providers	$ 50,109	13%	17:1	25%	8%	57%	C	1.5°C, SBTi
81	67	Hewlett Packard Enterprise Co	Spring, U.S.	Computers and peripherals manufacturing	$ 93,302	7%		46%	33%	39%	C	1.5°C, SBTi
82	72	Svenska Handelsbanken AB	Stockholm, Sweden	Banks	$ 1,052,698	26%	17:1	57%	7%	0%	C	1.5°C, SBTi, NZBA
83	94	Nordea Bank Abp	Helsinki, Finland	Banks	$ 3,242,058	10%	35:1	50%	4%	0%	C	NZAM, NZAO, NZBA
84	70	Orkla ASA	Oslo, Norway	Food and beverage manufacturing	$ 33,788	17%	17:1	45%	23%	3%	C	1.5°C, SBTi
85	37	Telus Corp	Vancouver, Canada	Telecom providers	$ 64,565	8%	338:1	43%	26%	23%	C	1.5°C, SBTi
86	81	Henkel AG & Co KgaA	Düsseldorf, Germany	Personal products (retail chemical)	$ 58,936	19%	132:1	44%	21%	1%	C	1.5°C, SBTi, NZAM
87		Prologis Inc	San Francisco, U.S.	Real estate and leasing	$ 1,614,690	3%	170:1	27%	2%	4%	C	1.5°C, SBTi
88		UniCredit SpA	Milan, Italy	Banks	$ 225,131	10%	60:1	42%	10%	0%	C	NZBA
89	85	Commerzbank AG	Frankfurt am Main, Germany	Banks	$ 423,236	16%	36:1	45%	5%	0%	C	SBTi, NZAM, NZBA
90	71	BNP Paribas SA	Paris, France	Banks	$ 320,421	13%	55:1	53%	8%	0%	C	SBTi, NZAM, NZAO, NZBA
91		Assicurazioni Generali SpA	Trieste, Italy	Insurance companies	$ 1,273,258	25%	72:1	46%	3%	0%	C	NZIA
92	78	Teck Resources Ltd	Vancouver, Canada	Metal and coal mining	$ 4,846	13%	79:1	29%	19%	28%	C
93	27	Vitasoy International Holdings Ltd	Hong Kong, China	Food and beverage manufacturing	$ 9,681	14%	70:1	18%	46%	4%	C
94		Bank of China Ltd	Beijing, China	Banks	$ 100,123	13%	4:1	15%	17%	0%	C
95	97	AstraZeneca PLC	Cambridge, U.K.	Pharmaceutical and biotech manufacturing	$ 100,380	15%	111:1	38%	13%	0%	C-	1.5°C, SBTi
96	92	IGM Financial Inc	Winnipeg, Canada	Asset management	$ 4,947,231	17%	49:1	33%	3%	0%	C-	NZAM
97		Biomérieux SA	Marcy l’Étoile, France	Medical equipment manufacturing	$ 75,374	18%	18:1	44%	6%	0%	C-	SBTi
98		Manulife Financial Corp	Toronto, Canada	Insurance companies	$ 206,669	11%	155:1	58%	6%	0%	C-	1.5°C, SBTi
99	57	Sino Land Co Ltd	Hong Kong, China	Real estate	$ 10,127	20%	50:1	8%	50%	12%	C-	1.5°C, SBTi
100		Sysmex Corp	Kobe, Japan	Instrumentation and other electronic manufacturing	$ 154,501	20%	22:1	8%	37%	0%	C-	SBTi

*Indicates a tie as a result of a data correction

Note: Banks, asset management and insurance peer groups are not assessed on the sustainable investment KPI. The weight of this KPI has been reweighted to the sustainable revenue KPI.

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The 2024 Global 100 companies earned 51% of their revenues from sustainable sources in the fiscal year 2022, up from 50% the prior year. That compares with just 16% for the broader universe of companies. 

“Sustainable investment data identifies those companies that are going to be poised to succeed in the transition to a low-carbon economy,” Malinsky says. “We can see which of these companies are going all in on sustainable investment and have watched the ratio grow for some of these companies from 20, to 30, to 50% over a three-year period.”

Two Australian companies, Sims Ltd. and Brambles Ltd., top the 2024 ranking. Sims, this year’s number one company, recycles scrap metal in 30 countries, and Brambles rents reusable pallets and containers around the globe. Both companies score 100% on sustainable revenue and sustainable investment.

> >READ OUR TOP COMPANY PROFILE

Malinsky says that the success of Sims and Brambles is emblematic of the growing number of companies associated with the circular economy, in which waste streams are recycled into new products. 

Two decades of Global 100 versus benchmark

The Global 100 also awarded a “pivot prize” to Italian energy firm ERG SpA, which completed its multiyear transition from black to green halfway through 2023. ERG had sold off its oil assets in 2013 and announced the divestiture of its gas assets in 2022 but was blocked by Italy’s anti-trust regulator. The company redoubled its efforts to sell its last non-renewable assets and finally sold its gas-fired power plant to Achernar Assets in June 2023. 

“With this operation we complete the path of transformation towards a pure wind and solar business model,” ERG CEO Paolo Merli said in a statement. 

ERG landed in 28th place on the 2024 Global 100 and will no doubt move up the rankings next year.

As its chair Edoardo Garrone said in a statement to investors, “We have shown that the transition to a sustainable business model is possible and profitable.”

 Among the Canadian firms to make the Global 100 are engineering firms Stantec of Edmonton and WSP Global, based in Montreal. First-time Canadian entries include Ontario’s transmission company Hydro One and life insurance giant Manulife Financial Corp., which joins its competitor Sun Life Financial Inc. on the list.

We have shown that the transition to a sustainable business model is profitable and possible.

 

-Edoardo Garrone, chair, ERG

The Global 100 rates companies in 38 industry groups, including banking, utilities, mining, oil and gas, and manufacturing, based on 25 metrics. It applies different weighting to certain metrics given the nature of the sector. Sustainable revenue and sustainable investment are key measures; others include gender and racial diversity, CEO pay versus employee average, CEO bonuses based on sustainability performance, taxes paid and contributions to employee pensions.

The Global 100 score far better on overall environmental, social and governance (ESG) metrics than do their peers. For example, 79% of Global 100 firms had sustainability-linked pay; only 30% of the broader corporate universe linked executive pay to the achievement of environmental or social sustainability targets.

It is a similar story for gender and racial diversity, though the difference is less stark. Some 35% of Global 100 boards of directors are gender diverse, while 25% of the broader peer group had gender-diverse boards. (Manulife was a leader with 58.3 % of its board listed as gender diverse.)

Racial diversity continues to lag both in the Global 100 group and the larger universe of companies. Only 13% of Global 100 company board directors were racially diverse compared to 10% for the larger cohort. 

All told, 10 global banks are represented in the Global 100, reflecting the large presence of financial institutions on the All Country World Index (MSCI ACWI) of publicly traded companies. The 10 banks on the Global 100 are leaders in their sector.

While the two Canadian life insurance companies made the cut, no Canadian bank did. In fact, Bank of Montreal fell out of the ranking after making it last year. The Bank of Montreal “has been pretty stagnant over the last few years in terms of their exposure to sustainable financing,” Malinsky says. 

Stagnation helps explain why a number of other companies fell off the list this year – to remain leaders, corporations need to continue to up the ante. “A number of other banks in the universe have seen their proportion of sustainable revenues earned from sustainable financing activities grow quite significantly, ” Malinsky adds.

As leaders in corporate sustainability, the Global 100 companies have also provided attractive investment returns for their shareholders. Corporate Knights compared the returns on its Global 100 index against the MSCI ACWI Index.

Between February 1, 2005, and December 15, 2023, the Global 100 saw a return of 287% on a U.S. dollar basis, while the MSCI ACWI had a return of 272%. The Dow Jones Sustainability World Index posted a return of 254% over that period.

The profitability of and solid investment returns from sustainability leaders are critical signals to the laggards that doing well can go hand in hand with doing good. And indeed, a growing number of investors are demanding greater transparency on data in order to align their investment and underwriting with their environmental and social commitments. 

Nowhere is that more true than with regard to climate change and the clean energy transition. Leaders in the transition will be rewarded and laggards penalized as the growing crisis drives governments and businesses alike to reassess their strategic interests and align their plans with a net-zero world. 

CLIMATE COMMITMENTS	1.5˚C Business Ambition for 1.5˚C	SBTi Science Based Targets Initiative	FCCA Fashion Charter for Climate Action	NZAM Net-Zero Asset Managers Initiative	NZAO Net-Zero Asset Owners Alliance	NZBA Net-Zero Banking Alliance

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Get the complete Excel scorecard for the Global 100 most sustainable companies of 2024

Methodology

 All companies are scored on applicable metrics relative to their peers, with 50% of the weight assigned to sustainable revenue and sustainable investment. Nine of the indicators have fixed weights; the rest are assigned weights according to each industry’s relative impact in relation to the overall economy. After quantitatively analyzing data for 25 key performance indicators, using the Corporate Knights methodology, this year’s overall scores were converted to letter grades. 

HQ location: Where the company’s headquarters are located

Peer group: Peer group against which company was rated (based on the Corporate Knights peer groups)

Peer group rank: Company’s ranking in peer group

Carbon productivity: Based on company’s revenue to Scope 1+2 CO2e ratio

% Taxes paid: Based on company’s cash taxes paid to profit ratio over past five years

CEO–average worker pay ratio: Ratio of CEO compensation to average worker’s compensation

% Gender-diverse board directors: % of board directors who are not male

% Sustainable revenue: % of revenue earned from products and services that are categorized as “sustainable” under the Corporate Knights Sustainable Economy Taxonomy

% Sustainable investment: % of capital expenditures, R&D and acquisitions that are categorized as “sustainable” under the Corporate Knights Sustainable Economy Taxonomy

Overall score: The weighted average percentile rank scores across up to 25 metrics

Awarded to the top company​

Above 75%

70% - 75%

65% - 70%

60% - 65%

55% - 60%

50% - 55%

45% - 50%

40% - 45%

35% - 40%

30% - 35%

25% - 30%

2023 GLOBAL 100

2022 GLOBAL 100

2021 GLOBAL 100

2020 GLOBAL 100

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The post The Global 100 list: How the world’s most sustainable corporations are driving the green transition appeared first on Corporate Knights.

Corporate Knights’ 2022 ranking of the world’s 100 most sustainable corporations is based on a rigorous assessment of nearly 7,000 public companies with revenue over US$1 billion.

2022 G100 Rank	2021 G100 Rank	Company	Headquarters City	Climate commitments	Overall Score
1	21	Vestas Wind Systems A/S	Aarhus	1.5°C, SBTi	A+
2	24	Chr Hansen Holding A/S	Horsholm	1.5°C, SBTi	A
3	43	Autodesk Inc	San Rafael	SBTi	A
4	1	Schneider Electric SE	Rueil-Malmaison	1.5°C, SBTi	A
5	40	City Developments Ltd	Singapore	1.5°C, SBTi	A
6	9	American Water Works Company Inc	Camden (U.S.)		A
7	2	Orsted A/S	Fredericia	1.5°C, SBTi	A-
8	12	Atlantica Sustainable Infrastructure PLC	Brentford (U.K.)	SBTi	A-
9	55	Dassault Systemes SE	Vélizy-Villacoublay	1.5°C, SBTi	A-
10	18	Brambles Ltd	Sydney	1.5°C, SBTi	A-
11	57	Sims Ltd	Mascot		A-
12	38	Johnson Controls International PLC	Cork	1.5°C, SBTi	B+
12*	7	Kering SA	Paris	SBTi, FCCA	B+
13	93	Koninklijke KPN NV	Rotterdam	1.5°C, SBTi	B+
14	6	McCormick & Company Inc	Hunt Valley	SBTi	B+
15		Schnitzer Steel Industries Inc	Portland		B+
16	45	Transcontinental Inc	Montreal		B+
17	5	Stantec Inc	Edmonton	1.5°C, SBTi	B+
18	17	Cascades Inc	Kingsey Falls	SBTi	B+
19		Evoqua Water Technologies Corp	Pittsburgh	SBTi	B+
20		Beijing Enterprises Water Group Ltd	Wan Chai		B+
21	3	Banco do Brasil SA	Brasília	1.5°C, SBTi	B+
22	51	Sekisui Chemical Co Ltd	Osaka	1.5°C, SBTi	B+
23		Engie Brasil Energia SA	Florianópolis		B+
24	4	Neste Oyj	Espoo		B+
25	19	Iberdrola SA	Bilbao	1.5°C, SBTi	B+
26	70	Xerox Holdings Corp	Norwalk	SBTi	B
27		Salesforce.Com Inc	San Francisco	1.5°C, SBTi	B
28	13	Cisco Systems Inc	San Jose	1.5°C, SBTi	B
29	39	Alstom SA	St Ouen	SBTi	B
31†		Legrand SA	Limoges	1.5°C, SBTi	B
32	16	Eisai Co Ltd	Tokyo	1.5°C, SBTi	B
33		Ecolab Inc	Saint Paul	1.5°C, SBTi	B
34		Canadian Pacific Railway Ltd	Calgary	SBTi	B
35	36	Novozymes A/S	Bagsvaerd	1.5°C, SBTi	B
36	90	Alphabet Inc	Mountain View		B-
37	27	Verbund AG	Vienna		B-
38	95	Workday Inc	Pleasanton	1.5°C, SBTi	B-
39		SunPower Corp	San Jose		B-
40	8	Metso Outotec Corp	Helsinki	SBTi	B-
41	29	IGM Financial Inc	Winnipeg	NZAM	B-
42		Xinyi Solar Holdings Ltd	Wuhu		B-
43		Sprouts Farmers Market Inc	Phoenix		B-
44	20	TSMC	Hsinchu City		B-
45	62	Vitasoy International Holdings Ltd	Hong Kong SAR		B-
46	60	Samsung SDI Co Ltd	Yongin-Si		B-
47		LONGi Green Energy Technology Co Ltd	Xi'an	1.5°C, SBTi	B-
48		Apple Inc	Cupertino	1.5°C, SBTi	B-
49	54	Telus Corp	Vancouver	1.5°C, SBTi	B-
50	50	HP Inc	Palo Alto	1.5°C, SBTi	B-
51		Atea ASA	Oslo	SBTi	B-
52	97	Tesla Inc	Austin	1.5°C, SBTi	B-
53	41	Konica Minolta Inc	Tokyo	SBTi	B-
54	30	Hewlett Packard Enterprise Co	Houston	1.5°C, SBTi	C+
55	84	SAP SE	Walldorf	1.5°C, SBTi	C+
55*	14	Storebrand ASA	Lysaker	1.5°C, SBTi, NZAM, NZAO	C+
55*	69	Sun Life Financial Inc	Toronto	NZAM	C+
56		Koninklijke Philips NV	Amsterdam	1.5°C, SBTi	C+
57	34	Arcelik AS	Istanbul	1.5°C, SBTi	C+
58		Citrix Systems Inc	Fort Lauderdale	SBTi	C+
59		UniCredit SpA	Milan	NZBA	C+
60	67	Commerzbank AG	Frankfurt am Main	SBTi, NZAM, NZBA	C+
61	37	ING Groep NV	Amsterdam	NZAM	C+
62		Quadient SA	Bagneux		C+
63	88	Henkel AG & Co KgaA	Düsseldorf	1.5°C, SBTi, NZAM	C+
64	59	Intel Corp	Santa Clara		C+
66†	77	Prologis Inc	San Francisco	SBTi	C+
67	65	Sanofi SA	Paris	1.5°C, SBTi	C+
68	74	Analog Devices Inc	Wilmington	1.5°C, SBTi	C+
69	87	Kesko Oyj	Helsinki	1.5°C, SBTi	C+
70	86	Nordea Bank Abp	Helsinki	NZAM, NZAO, NZBA	C+
71	44	National Australia Bank Ltd	Melbourne		C+
72	80	StarHub Ltd	Singapore		C+
73	92	Industria de Diseno Textil SA	Corunna	SBTi, FCCA	C+
74	91	Teck Resources Ltd	Vancouver		C
75	58	CapitaLand Investment Ltd	Singapore	SBTi	C
76	46	BNP Paribas SA	Paris	SBTi, NZAM, NZAO, NZBA	C
77		Puma SE	Herzogenaurach	SBTi, FCCA	C
78	79	Unilever PLC	London (U.K.)	1.5°C, SBTi	C
79		Gildan Activewear Inc	Montreal		C
80	47	Bank of Montreal	Montreal	NZAM, NZAO	C
81	68	Cogeco Communications Inc	Montreal	1.5°C, SBTi	C
82	76	Adidas AG	Herzogenaurach	SBTi, FCCA	C
83		Coloplast A/S	Humlebæk	1.5°C, SBTi	C
84	35	BT Group PLC	London (U.K.)	1.5°C, SBTi	C-
86†	73	Agnico Eagle Mines Ltd	Toronto		C-
87	78	Lenovo Group Ltd	Quarry Bay	SBTi	C-
88	42	Natura & Co Holding SA	São Paulo	1.5°C, SBTi	C-
89		Campbell Soup Co	Camden (U.S.)	SBTi	C-
90	56	Intesa Sanpaolo SpA	Turin	NZAM, NZAO, NZBA	C-
91	82	AstraZeneca PLC	Cambridge (U.K.)	1.5°C, SBTi	C-
92		KBC Groep NV	Brussels		C-
93	49	Allianz SE	Munich	SBTi, NZAM, NZAO	C-
94		Aster DM Healthcare Ltd	Dubai		D+
95	89	Telefonaktiebolaget LM Ericsson	Stockholm	1.5°C, SBTi	D+
96	75	Pearson PLC	London (U.K.)	1.5°C, SBTi	D+
97		Biogen Inc	Cambridge (U.S.)	1.5°C, SBTi	D+
98	99	Canadian Tire Corporation Ltd	Toronto		D
99		LG Electronics Inc	Seoul	1.5°C, SBTi	D
100	94	Byd Co Ltd	Shenzhen		D-

* Tie
† Rank 30 and 85 updated due to data correction

Download the complete 2022 Global 100 Excel scorecard:

2022 Global 100 Full Results

Read Mike Scott’s feature story on how

Global 100 companies prove sustainability is good for business.

Read our top company profile:

Wind giant Vestas sweeps into top spot on Global 100 list of the most sustainable corporations in the world

Methodology

All companies are scored on applicable metrics relative to their peers, with 50% of the weight assigned to Clean Revenue and Clean Investment. Nine of the indicators have fixed weights; the rest are assigned weights according to each industry’s relative impact in relation to the overall economy. After quantitatively analyzing data for 23 key performance indicators, using the Corporate Knights methodology, this year’s overall scores were converted to letter grades.

Country: Country in which company is headquartered
Peer Group: Peer group against which company was rated (based on the Corporate Knights Peer Groups)
Peer Group Rank: Company’s ranking in peer group
Carbon Productivity Score: Based on company’s revenue to Scope 1+2 CO2e ratio
% Taxes Paid: Based on company’s cash taxes paid to profit ratio over past five years
CEO–Average Worker Pay Ratio: Ratio of CEO compensation to average worker’s compensation
% Non-Male Board Directors: % of board of directors who are not male
% Clean Revenue: % of revenue earned from products and services that are categorized as “clean” under the Corporate Knights Clean Taxonomy
% Clean Investment: % of capital expenditures, R&D and acquisitions that are categorized as “clean” under the Corporate Knights Clean Taxonomy
Overall Score: The weighted average percentile rank scores across up to 23 metrics

A+ Awarded to the top company
A Above 75%
A- 70–75%
B+ 65–70%
B 60–65%
B- 55–60%
C+ 50–55%
C 45–50%
C- 40–45%
D+ 35–40%
D 30–35%
D- 25–30%

Complete methodology can be viewed here.

The post The 100 most sustainable corporations of 2022 appeared first on Corporate Knights.

The global pandemic continued to highlight society’s inequalities in 2021, while heat waves, wildfires and floods reminded us of the urgency of the climate crisis. It was a year when environmental, social and governance (ESG) issues took centre stage in business, government and all walks of life. Approximately 90% of countries are now covered by some kind of net-zero target, as are hundreds of the largest publicly traded companies. At November’s UN climate summit, US$130 trillion of assets were committed to this goal.

Again this year, the Corporate Knights Global 100 most sustainable corporations are progressing faster than their peers. Members of the MSCI All Country World Index (ACWI), a global equity index, derive just 30% of their earnings from products or services aligned with the Corporate Knights Clean Taxonomy, while 47% of the Global 100 do so (up from 41% last year). Crucially, Global 100 companies are also investing more aggressively in clean technologies and services, with 48% of their capital expenditures, R&D and acquisitions going to clean investments, versus 34% for ACWI.

This is reflected in their performance. Since the market bottomed in the spring of 2020, the Global 100 has made gains of 22% against the ACWI, reflecting investors’ focus on a green recovery. Since its inception on February 1, 2005, the Global 100 Index has generated a total investment return of 331% compared to 279% for ACWI.

As the “decade of action” on decarbonizing the economy kicks off in earnest, the most sustainable companies are more productive in terms of both carbon and energy. Compared to the average ACWI firm, Global 100 members generate more than four times the output per tonne of carbon emitted and almost eight times more output per unit of energy consumed.

In 2021, 60 of the Global 100 companies signed up to the Science Based Targets initiative, aligning their emissions reductions with the requirements of the Paris Agreement. This year, that figure inched ahead to 65. And while non-Global 100 companies increased their clean investments from 22% in the 2021 ranking to 34% this year, the Global 100 poured, on average, 48% of their investments into clean activities, up from a third a year ago.

47%

% of earnings that Global 100 firms derive from clean products and services, compared to 30% for benchmark.

Global 100 companies also outperform on other parameters, including sick pay: 82% of constituents offer at least 10 days of paid sick leave, compared to 74% of the ACWI. The ratio of CEO pay to that of the average worker is also lower in Global 100 firms, at 111:1, while at other companies, the pay gap has grown from 124:1 to 140:1, extending the gulf between executives and workers. And while 87% of Global 100 companies link executive compensation to meeting sustainability targets, up from 80% last year, the proportion of companies in the benchmark index may have more than doubled, but that is from just 14% last year to 34% this year.

On diversity, the differences are less clear-cut. In Global 100 companies, on average, 32% of directors are non-male, the same as last year, while for the ACWI the proportion has improved from 24% to 30%. When it comes to diversity of leadership, 13% of Global 100 company board members and 12% of executives are racially diverse.

One area where Global 100 firms do not outperform the benchmark is in paying tax: both the Global 100 and the ACWI pay 13% tax.

Corporate Knights introduced a letter grade system this year that gives Global 100 companies marks ranging from A+ to D–. These grades were converted from companies’ overall scores, based on Corporate Knights’ 23 key indicators. Every company that makes the Global 100 has sustainability practices well above average: the letter grades reflect companies’ standings relative to other high-performance companies.

While banks comprise a 10th of this year’s index, it is tech groups of all varieties that dominate, including telecoms, chipmakers, computer makers and business service providers. There are 17 new members of the Global 100, including U.S.-listed Evoqua Water Technologies and Beijing Enterprises Water Group, highlighting the growing importance of water issues around the world. The latter was one of a number of Chinese companies joining the index, including Xinyi Solar Holdings and LONGi Green Energy, perhaps indicating that sustainability is starting to take hold in the world’s largest carbon emitter. Another interesting addition is Schnitzer Steel Industries, a specialist in steel and auto recycling. The circular economy will be an increasing focus for many sectors in years to come.

331%

Since its inception on February 1, 2005, the Global 100 Index has generated a total investment return of 331% compared to 279% for ACWI.

The longest-running company on the Global 100 is Finnish retailer Kesko, which has been on the Global 100 since 2005. The index was dominated by companies from Europe (41) and the Americas (39), with 20 constituents from the Asia Pacific region.

Meanwhile, the companies that dropped off the list illustrate how sustainability requirements are always increasing and changing. Valeo no longer makes the cut because it saw a significant drop in its clean revenue and investment, as most of its products go into hybrids, which no longer count as clean under the new taxonomy, rather than battery electric vehicles.

A number of high-profile names were excluded from the Global 100 because of specific red-flagged activities, such as weapons production (including Airbus, Rolls-Royce Holdings and Boeing) and climate policy blocking (Ford Motor Company, Daimler AG, Chevron and Air France).

It was also a year that put the complexities of the sustainability agenda into sharper focus; some members of this year’s list performed well in certain areas but showed clear shortcomings elsewhere. Tech giants Apple and Google, for example, were both hit with significant antitrust fines in Europe, but Apple scored well on energy, carbon, clean revenue and diversity, while Google performed strongly on clean revenue and racial diversity. Canadian mining firm Teck Resources agreed to pay the highest pollution fines ever given out by Fisheries and Oceans Canada in 2021 as a settlement for selenium releases at its metallurgical coal operations; nonetheless, the company sits in 74th spot because of its top-quartile performance on clean revenue and investment in clean economy minerals such as copper and zinc, as well as pension fund quality and boardroom racial diversity.

Banco do Brasil is heavily invested in Brazil’s carbon-intensive beef and timber industries, but as a sustainable finance leader, it screens those investments for responsible practices. It scores well in areas such as energy productivity, taxes paid, clean revenue and CEO pay ratio.

The last 12 months have shown that sustainability is a constantly evolving concept, and even the most diligent companies must evolve with it.

Mike Scott writes about business, finance, clean energy and sustainability.

Corporate Knights’ 2022 ranking of the world’s 100 most sustainable corporations is based on a rigorous assessment of nearly 7,000 public companies with revenue over US$1 billion.

2022 G100 Rank	2021 G100 Rank	Company	Headquarters City	Climate commitments	Overall Score
1	21	Vestas Wind Systems A/S	Aarhus	1.5°C, SBTi	A+
2	24	Chr Hansen Holding A/S	Horsholm	1.5°C, SBTi	A
3	43	Autodesk Inc	San Rafael	SBTi	A
4	1	Schneider Electric SE	Rueil-Malmaison	1.5°C, SBTi	A
5	40	City Developments Ltd	Singapore	1.5°C, SBTi	A
6	9	American Water Works Company Inc	Camden (U.S.)		A
7	2	Orsted A/S	Fredericia	1.5°C, SBTi	A-
8	12	Atlantica Sustainable Infrastructure PLC	Brentford (U.K.)	SBTi	A-
9	55	Dassault Systemes SE	Vélizy-Villacoublay	1.5°C, SBTi	A-
10	18	Brambles Ltd	Sydney	1.5°C, SBTi	A-
11	57	Sims Ltd	Mascot		A-
12	38	Johnson Controls International PLC	Cork	1.5°C, SBTi	B+
12*	7	Kering SA	Paris	SBTi, FCCA	B+
13	93	Koninklijke KPN NV	Rotterdam	1.5°C, SBTi	B+
14	6	McCormick & Company Inc	Hunt Valley	SBTi	B+
15		Schnitzer Steel Industries Inc	Portland		B+
16	45	Transcontinental Inc	Montreal		B+
17	5	Stantec Inc	Edmonton	1.5°C, SBTi	B+
18	17	Cascades Inc	Kingsey Falls	SBTi	B+
19		Evoqua Water Technologies Corp	Pittsburgh	SBTi	B+
20		Beijing Enterprises Water Group Ltd	Wan Chai		B+
21	3	Banco do Brasil SA	Brasília	1.5°C, SBTi	B+
22	51	Sekisui Chemical Co Ltd	Osaka	1.5°C, SBTi	B+
23		Engie Brasil Energia SA	Florianópolis		B+
24	4	Neste Oyj	Espoo		B+
25	19	Iberdrola SA	Bilbao	1.5°C, SBTi	B+
26	70	Xerox Holdings Corp	Norwalk	SBTi	B
27		Salesforce.Com Inc	San Francisco	1.5°C, SBTi	B
28	13	Cisco Systems Inc	San Jose	1.5°C, SBTi	B
29	39	Alstom SA	St Ouen	SBTi	B
31†		Legrand SA	Limoges	1.5°C, SBTi	B
32	16	Eisai Co Ltd	Tokyo	1.5°C, SBTi	B
33		Ecolab Inc	Saint Paul	1.5°C, SBTi	B
34		Canadian Pacific Railway Ltd	Calgary	SBTi	B
35	36	Novozymes A/S	Bagsvaerd	1.5°C, SBTi	B
36	90	Alphabet Inc	Mountain View		B-
37	27	Verbund AG	Vienna		B-
38	95	Workday Inc	Pleasanton	1.5°C, SBTi	B-
39		SunPower Corp	San Jose		B-
40	8	Metso Outotec Corp	Helsinki	SBTi	B-
41	29	IGM Financial Inc	Winnipeg	NZAM	B-
42		Xinyi Solar Holdings Ltd	Wuhu		B-
43		Sprouts Farmers Market Inc	Phoenix		B-
44	20	TSMC	Hsinchu City		B-
45	62	Vitasoy International Holdings Ltd	Hong Kong SAR		B-
46	60	Samsung SDI Co Ltd	Yongin-Si		B-
47		LONGi Green Energy Technology Co Ltd	Xi'an	1.5°C, SBTi	B-
48		Apple Inc	Cupertino	1.5°C, SBTi	B-
49	54	Telus Corp	Vancouver	1.5°C, SBTi	B-
50	50	HP Inc	Palo Alto	1.5°C, SBTi	B-
51		Atea ASA	Oslo	SBTi	B-
52	97	Tesla Inc	Austin	1.5°C, SBTi	B-
53	41	Konica Minolta Inc	Tokyo	SBTi	B-
54	30	Hewlett Packard Enterprise Co	Houston	1.5°C, SBTi	C+
55	84	SAP SE	Walldorf	1.5°C, SBTi	C+
55*	14	Storebrand ASA	Lysaker	1.5°C, SBTi, NZAM, NZAO	C+
55*	69	Sun Life Financial Inc	Toronto	NZAM	C+
56		Koninklijke Philips NV	Amsterdam	1.5°C, SBTi	C+
57	34	Arcelik AS	Istanbul	1.5°C, SBTi	C+
58		Citrix Systems Inc	Fort Lauderdale	SBTi	C+
59		UniCredit SpA	Milan	NZBA	C+
60	67	Commerzbank AG	Frankfurt am Main	SBTi, NZAM, NZBA	C+
61	37	ING Groep NV	Amsterdam	NZAM	C+
62		Quadient SA	Bagneux		C+
63	88	Henkel AG & Co KgaA	Düsseldorf	1.5°C, SBTi, NZAM	C+
64	59	Intel Corp	Santa Clara		C+
66†	77	Prologis Inc	San Francisco	SBTi	C+
67	65	Sanofi SA	Paris	1.5°C, SBTi	C+
68	74	Analog Devices Inc	Wilmington	1.5°C, SBTi	C+
69	87	Kesko Oyj	Helsinki	1.5°C, SBTi	C+
70	86	Nordea Bank Abp	Helsinki	NZAM, NZAO, NZBA	C+
71	44	National Australia Bank Ltd	Melbourne		C+
72	80	StarHub Ltd	Singapore		C+
73	92	Industria de Diseno Textil SA	Corunna	SBTi, FCCA	C+
74	91	Teck Resources Ltd	Vancouver		C
75	58	CapitaLand Investment Ltd	Singapore	SBTi	C
76	46	BNP Paribas SA	Paris	SBTi, NZAM, NZAO, NZBA	C
77		Puma SE	Herzogenaurach	SBTi, FCCA	C
78	79	Unilever PLC	London (U.K.)	1.5°C, SBTi	C
79		Gildan Activewear Inc	Montreal		C
80	47	Bank of Montreal	Montreal	NZAM, NZAO	C
81	68	Cogeco Communications Inc	Montreal	1.5°C, SBTi	C
82	76	Adidas AG	Herzogenaurach	SBTi, FCCA	C
83		Coloplast A/S	Humlebæk	1.5°C, SBTi	C
84	35	BT Group PLC	London (U.K.)	1.5°C, SBTi	C-
86†	73	Agnico Eagle Mines Ltd	Toronto		C-
87	78	Lenovo Group Ltd	Quarry Bay	SBTi	C-
88	42	Natura & Co Holding SA	São Paulo	1.5°C, SBTi	C-
89		Campbell Soup Co	Camden (U.S.)	SBTi	C-
90	56	Intesa Sanpaolo SpA	Turin	NZAM, NZAO, NZBA	C-
91	82	AstraZeneca PLC	Cambridge (U.K.)	1.5°C, SBTi	C-
92		KBC Groep NV	Brussels		C-
93	49	Allianz SE	Munich	SBTi, NZAM, NZAO	C-
94		Aster DM Healthcare Ltd	Dubai		D+
95	89	Telefonaktiebolaget LM Ericsson	Stockholm	1.5°C, SBTi	D+
96	75	Pearson PLC	London (U.K.)	1.5°C, SBTi	D+
97		Biogen Inc	Cambridge (U.S.)	1.5°C, SBTi	D+
98	99	Canadian Tire Corporation Ltd	Toronto		D
99		LG Electronics Inc	Seoul	1.5°C, SBTi	D
100	94	Byd Co Ltd	Shenzhen		D-

* Tie
† Rank 30 and 85 updated due to data correction