Where Are the World’s Most Sustainable Companies?
Everywhere you look, sustainability is permeating social, political, and business agendas.
In recent years, an impressive number of companies have stepped up to take a more active role in shaping a more sustainable future—not just in the environmental sense, but also by taking social and governance factors into consideration.
Today’s chart draws from the Corporate Knights Global 100, an annual ranking of the 100 most sustainable companies, to visualize exactly how many are located in each corner of the world. The companies on the list are clear winners not only because they aim to leave the world a better place, but because their stocks have also outperformed the market on average.
How is Corporate Sustainability Measured?
The researchers rely on readily available data for all publicly-listed companies with at least $1 billion in gross revenue (in PPP), as of the financial year 2018.
Companies are then screened for several key performance indicators (KPIs), including but not limited to the following categories and examples:
- Resource management
Example: GHGs and other emissions such as NOx and SOx emissions
- Financial management
Example: Innovation capacity, or the percentage of R&D spending against total revenue
- Employee management
Example: Women in executive management and/or on boards
- Clean revenue
Example: The percentage of total revenue derived from “clean” products and services
The concentration of the most sustainable companies also varies greatly depending on where you look. Here’s a closer view of every region.
Europe: 49/100 Sustainable Companies
Europe is front-and-center in the tidal shift towards more sustainable business, driven by far-reaching regulations. With this in mind, it’s perhaps not surprising to see that Europe is a hotbed of activity.
Nearly half the world’s most sustainable companies are located in Europe. France paves the way with nine sustainable companies in the ranking, followed by Finland with six companies of 100.
|#1||Ørsted A/S||Wholesale Power||🇩🇰 Denmark|
|#2||Chr. Hansen Holding A/S||Food and other chemical agents||🇩🇰 Denmark|
|#3||Neste Oyj||Petroleum Refineries||🇫🇮 Finland|
|#6||Novozymes A/S||Specialty and Performance Chemicals||🇩🇰 Denmark|
|#7||ING Groep NV||Banks||🇳🇱 Netherlands|
|#8||Enel SpA||Wholesale Power||🇮🇹 Italy|
|#11||Osram Licht AG||Electrical Equipment and Power Systems||🇩🇪 Germany|
|#13||Storebrand ASA||Insurance||🇳🇴 Norway|
|#14||Umicore SA||Primary Metals Products||🇧🇪 Belgium|
|#17||Iberdrola SA||Wholesale Power||🇪🇸 Spain|
|#18||Outotec Oyj||Machinery Manufacturing||🇫🇮 Finland|
|#20||Accenture PLC||Technology Consulting Services||🇮🇪 Ireland|
|#21||Dassault Systemes SE||Software||🇫🇷 France|
|#23||Kering SA||Apparel and Accessory Products||🇫🇷 France|
|#24||UPM-Kymmene Oyj||Forestry and Paper Products||🇫🇮 Finland|
|#27||H & M Hennes & Mauritz AB||Apparel and Accessories Retail||🇸🇪 Sweden|
|#28||Sanofi SA||Biopharmaceuticals||🇫🇷 France|
|#29||Schneider Electric SE||Industrial Conglomerates||🇫🇷 France|
|#31||BNP Paribas SA||Banks||🇫🇷 France|
|#32||Kone Oyj||Machinery Manufacturing||🇫🇮 Finland|
|#33||Verbund AG||Wholesale Power||🇦🇹 Austria|
|#34||Valeo SA||Consumer Vehicles and Parts||🇫🇷 France|
|#35||ERG S.p.A.||Wholesale Power||🇮🇹 Italy|
|#37||Vestas Wind Systems A/S||Electrical Equipment and Power Systems||🇩🇰 Denmark|
|#38||bioMérieux||Diagnostics and Drug Delivery Devices||🇫🇷 France|
|#39||Intesa Sanpaolo SpA||Banks||🇮🇹 Italy|
|#40||Koninklijke KPN NV||Wireless and Wireline Telecomm. Services||🇳🇱 Netherlands|
|#41||Siemens AG||Industrial Conglomerates||🇩🇪 Germany|
|#45||Koninklijke DSM NV||Food and other chemical agents||🇳🇱 Netherlands|
|#46||Unilever PLC||Personal Care and Cleaning Products||🇬🇧 UK|
|#52||Ericsson||Communications Equipment||🇸🇪 Sweden|
|#55||Adidas AG||Apparel and Accessory Products||🇩🇪 Germany|
|#56||AstraZeneca PLC||Biopharmaceuticals||🇬🇧 UK|
|#59||Commerzbank AG||Banks||🇩🇪 Germany|
|#61||Abb Ltd||Industrial Conglomerates||🇨🇭 Switzerland|
|#64||Pearson PLC||Personal Professional Services||🇬🇧 UK|
|#65||BT Group PLC||Wireless and Wireline Telecomm. Services||🇬🇧 UK|
|#66||Metso Oyj||Machinery Manufacturing||🇫🇮 Finland|
|#69||Assicurazioni Generali SpA||Insurance||🇮🇹 Italy|
|#70||Acciona SA||Facilities and Construction Services||🇪🇸 Spain|
|#71||Novo Nordisk A/S||Biopharmaceuticals||🇩🇰 Denmark|
|#73||Skandinaviska Enskilda Banken AB||Banks||🇸🇪 Sweden|
|#76||Ucb S.A.||Biopharmaceuticals||🇧🇪 Belgium|
|#79||GlaxoSmithKline PLC||Biopharmaceuticals||🇬🇧 UK|
|#87||BASF SE||Specialty and Performance Chemicals||🇩🇪 Germany|
|#94||Industria de Diseno Textil SA||Apparel and Accessories Retail||🇪🇸 Spain|
|#98||L'Oreal SA||Personal Care and Cleaning Products||🇫🇷 France|
|#99||Kesko Corporation||Food and Beverage Retail||🇫🇮 Finland|
|#100||Amundi SA||Investment Services||🇫🇷 France|
Denmark’s Ørsted A/S claims the top of the leaderboard in 2020. Within a decade, the company has completely transformed its business model—shifting away from the Danish Oil and Natural Gas (DONG) company into a pure play renewable energy company. The company recognized the importance of this transition:
Running the company just for profit doesn’t make sense, but running it just for a bigger purpose is also not sustainable in the long term. Doing good and doing well must go together.
—Henrik Poulsen, CEO
Just 10 years ago, DONG was 85%-fossil fuel based, and only 15%-renewables based. Today, Ørsted has flipped these proportions. The company attributes its dramatic transformation to the societal demand for green energy, and aims to be carbon-neutral by 2025.
North America: 29/100 Sustainable Companies
In this region, the U.S. alone is responsible for 17 of the top 100 sustainable companies in the world. What’s more, of the 28 new companies to the 2020 Ranking, Canada is the homebase for nine of these entrants.
|#4||Cisco Systems Inc||Communications Equipment||🇺🇸 U.S.|
|#5||Autodesk Inc||Software||🇺🇸 U.S.|
|#10||Algonquin Power & Utilities Corp||Electric Utilities||🇨🇦 CA|
|#15||Hewlett Packard Enterprise Co||Computer Hardware||🇺🇸 U.S.|
|#16||American Water||Water Utilities||🇺🇸 U.S.|
|#22||McCormick & Company||Food and Beverage Production||🇺🇸 U.S.|
|#26||Prologis Inc||Real Estate Investment Trusts (REITs)||🇺🇸 U.S.|
|#44||Bombardier Inc||Aerospace and Defense Manufacturing||🇨🇦 CA|
|#47||Sims Metal Management Ltd||Primary Metals Products||🇺🇸 U.S.|
|#48||Bank of Montreal||Banks||🇨🇦 CA|
|#49||Cascades Inc||Containers and Packaging||🇨🇦 CA|
|#53||Danaher Corporation||Medical Devices||🇺🇸 U.S.|
|#54||Canadian National Railway Co||Cargo Transportation and Infrastructure Services||🇨🇦 CA|
|#57||Stantec Inc||Facilities and Construction Services||🇨🇦 CA|
|#58||HP Inc||Computer Peripherals and Systems||🇺🇸 U.S.|
|#60||Sun Life Financial Inc||Insurance||🇨🇦 CA|
|#62||Alphabet Inc||Internet and Data Services||🇺🇸 U.S.|
|#67||Comerica Incorporated||Banks||🇺🇸 U.S.|
|#74||Tesla Inc||Consumer Vehicles and Parts||🇺🇸 U.S.|
|#77||Workday Inc||Software||🇺🇸 U.S.|
|#78||Merck & Co Inc||Biopharmaceuticals||🇺🇸 U.S.|
|#81||Intel Corporation||Semiconductor Manufacturing||🇺🇸 U.S.|
|#82||Analog Devices Inc||Semiconductor Manufacturing||🇺🇸 U.S.|
|#83||IGM Financial Inc||Investment Services||🇨🇦 CA|
|#84||Canadian Solar Inc||Electrical Equipment and Power Systems||🇨🇦 CA|
|#88||Cogeco Communications Inc||Wireless and Wireline Telecomm. Services||🇨🇦 CA|
|#91||Teck Resources Ltd.||Metal Ore Mining||🇨🇦 CA|
|#93||Campbell Soup||Food and Beverage Production||🇺🇸 U.S.|
|#96||Telus Corp.||Wireless and Wireline Telecomm. Services||🇨🇦 CA|
Cisco Systems comes in fourth worldwide, partly as a result of its clean revenues worth a stunning $25 billion. Not far behind is Autodesk, which rose an impressive 43 places since 2019. The main factor behind this leap? The software corporation now operates its cloud platforms using 99% renewable energy.
Asia: 16/100 Sustainable Companies
Over in Asia, Japan is a clear leader, boasting six sustainable companies in the list. Interestingly, the companies are from a wide range of industries, from computers (Panasonic) to cars (Toyota).
|#12||Sekisui Chemicals||Other Materials||🇯🇵 Japan|
|#25||Taiwan Semiconductor||Semiconductor Equipment and Services||🇹🇼 Taiwan|
|#36||City Developments Ltd||Real Estate Investment and Services||🇸🇬 Singapore|
|#43||Shinhan Financial Group||Banks||🇰🇷 South Korea|
|#50||Advantech||Computer Hardware||🇹🇼 Taiwan|
|#63||Capitaland Limited||Real Estate Investment and Services||🇸🇬 Singapore|
|#68||Takeda Pharmaceutical||Biopharmaceuticals||🇯🇵 Japan|
|#72||Konica Minolta||Computer Peripherals and Systems||🇯🇵 Japan|
|#80||Samsung||Electrical Equipment and Power Systems||🇰🇷 South Korea|
|#85||BYD Co.||Consumer Vehicles and Parts||🇨🇳 China|
|#86||Kao Corp.||Personal Care and Cleaning Products||🇯🇵 Japan|
|#89||Panasonic Corp.||Computer Hardware||🇯🇵 Japan|
|#90||Vitasoy||Food and Beverage Production||🇭🇰 Hong Kong|
|#92||Toyota Motor Corp.||Consumer Vehicles and Parts||🇯🇵 Japan|
|#95||Singtel||Wireless and Wireline Telecomm. Services||🇸🇬 Singapore|
|#97||Lenovo Group||Computer Peripherals and Systems||🇨🇳 China|
Japanese plastics manufacturer Sekisui Chemicals comes in first in Asia, after an immense improvement of 77 positions in just one year. The company builds environmentally-friendly housing, and 28% of its revenue aligns with the UN’s Sustainable Development Goals (SDGs).
Rest of the World: 6/100 Sustainable Companies
There are a few notable mentions in other regions, too. Brazil’s Banco do Brasil remains in the top ten list, and is one of the three most sustainable companies in all of South America.
|#9||Banco do Brasil SA||Banks||🇧🇷 Brazil|
|#19||CEMIG||Electric Utilities||🇧🇷 Brazil|
|#30||Natura Cosmeticos SA||Personal Care and Cleaning Products||🇧🇷 Brazil|
|#42||National Australia Bank Ltd||Banks||🇦🇺 Australia|
|#51||Standard Bank Group Ltd||Banks||🇿🇦 South Africa|
|#75||Westpac Banking Corp||Banks||🇦🇺 Australia|
More than half of the companies in these remaining regions are banks. Incidentally, financial services are the biggest group in the Global 100 overall.
The Best of Both Worlds
As it turns out, you can have your cake and eat it, too.
Altogether, the Global 100 most sustainable companies have consistently outperformed*, and outlasted the average company in the MSCI ACWI (All Country World Index):
|Average Company Age||83 years||49 years|
*Between 2005-Dec. 31 2019
Corporate sustainability is a significant driving force for urgent climate action, and the sustainable companies on this list acknowledge the triple bottom line of not just making profit, but also creating a lasting impact on people and the planet.
Mainstream EV Adoption: 5 Speedbumps to Overcome
The pace of mainstream EV adoption has been slow, but is expected to accelerate as automakers overcome these five critical challenges.
Mainstream EV Adoption: 5 Speedbumps to Overcome
Many would agree that a global shift to electric vehicles (EV) is an important step in achieving a carbon-free future. However, for various reasons, EVs have so far struggled to break into the mainstream, accounting for just 2.5% of global auto sales in 2019.
To understand why, this infographic from Castrol identifies the five critical challenges that EVs will need to overcome. All findings are based on a 2020 survey of 10,000 consumers, fleet managers, and industry specialists across eight significant EV markets.
The Five Challenges to EV Adoption
Cars have relied on the internal combustion engine (ICE) since the early 1900s, and as a result, the ownership experience of an EV can be much more nuanced. This results in the five critical challenges we examine below.
Challenge #1: Price
The top challenge is price, with 63% of consumers believing that EVs are beyond their current budget. Though many cheaper EV models are being introduced, ICE vehicles still have the upper hand in terms of initial affordability. Note the emphasis on “initial”, because over the long term, EVs may actually be cheaper to maintain.
Taking into account all of the running and maintenance costs of [an EV], we have already reached relative cost parity in terms of ownership.
—President, EV consultancy, U.S.
For starters, an EV drivetrain has significantly fewer moving parts than an ICE equivalent, which could result in lower repair costs. Government subsidies and the cost of electricity are other aspects to consider.
So what is the tipping price that would convince most consumers to buy an EV? According to Castrol, it differs around the world.
|Country||EV Adoption Tipping Price ($)|
Many budget-conscious buyers also rely on the used market, in which EVs have little presence. The rapid speed of innovation is another concern, with 57% of survey respondents citing possible depreciation as a factor that prevented them from buying an EV.
Challenge #2: Charge Time
Most ICE vehicles can be refueled in a matter of minutes, but there is much more uncertainty when it comes to charging an EV.
Using a standard home charger, it takes 10-20 hours to charge a typical EV to 80%. Even with an upgraded fast charger (3-22kW power), this could still take up to 4 hours. The good news? Next-gen charging systems capable of fully charging an EV in 20 minutes are slowly becoming available around the world.
Similar to the EV adoption tipping price, Castrol has also identified a charge time tipping point—the charge time required for mainstream EV adoption.
|Country||Charge Time Tipping Point (minutes)|
If the industry can achieve an average 31 minute charge time, EVs could reach $224 billion in annual revenues across these eight markets alone.
Challenge #3: Range
Over 70% of consumers rank the total range of an EV as being important to them. However, today’s affordable EV models (below the average tipping price of $35,947) all have ranges that fall under 200 miles.
Traditional gas-powered vehicles, on the other hand, typically have a range between 310-620 miles. While Tesla offers several models boasting a 300+ mile range, their purchase prices are well above the average tipping price.
For the majority of consumers to consider an EV, the following range requirements will need to be met by vehicle manufacturers.
|Country||Range Tipping Point (miles)|
Fleet managers, those who oversee vehicles for services such as deliveries, reported a higher average EV tipping range of 341 miles.
Challenge #4: Charging Infrastructure
Charging infrastructure is the fourth most critical challenge, with 64% of consumers saying they would consider an EV if charging was convenient.
Similar to charge times, there is much uncertainty surrounding infrastructure. For example, 65% of consumers living in urban areas have a charging point within 5 miles of their home, compared to just 26% for those in rural areas.
Significant investment in public charging infrastructure will be necessary to avoid bottlenecks as more people adopt EVs. China is a leader in this regard, with billions spent on EV infrastructure projects. The result is a network of over one million charging stations, providing 82% of Chinese consumers with convenient access.
Challenge #5: Vehicle Choice
The least important challenge is increasing the variety of EV models available. This issue is unlikely to persist for long, as industry experts believe 488 unique models will exist by 2025.
Despite variety being less influential than charge times or range, designing models that appeal to various consumer niches will likely help to accelerate EV adoption. Market research will be required, however, because attitudes towards EVs vary by country.
|Country||Consumers Who Believe EVs Are More Fashionable Than ICE Vehicles (%)|
A majority of Chinese and Indian consumers view EVs more favorably than traditional ICE vehicles. This could be the result of a lower familiarity with cars in general—in 2000, for example, China had just four million cars spread across its population of over one billion.
EVs are the least alluring in the U.S. and Norway, which coincidentally have the highest GDP per capita among the eight countries surveyed. These consumers may be accustomed to a higher standard of quality as a result of their greater relative wealth.
So When Do EVs Become Mainstream?
As prices fall and capabilities improve, Castrol predicts a majority of consumers will consider buying an EV by 2024. Global mainstream adoption could take slightly longer, arriving in 2030.
Caution should be exhibited, as these estimates rely on the five critical challenges being solved in the short-term future. This hinges on a number of factors, including technological change, infrastructure investment, and a shift in consumer attitudes.
New challenges could also arise further down the road. EVs require a significant amount of minerals such as copper and lithium, and a global increase in production could put strain on the planet’s limited supply.
Visualizing the Range of EVs on Major Highway Routes
We visualize how far popular EV models will take you on real-world routes between major cities, and which are the most cost effective.
The Range of EVs on Major Highway Routes
Between growing concerns around climate change, new commuting behaviors due to COVID-19, and imminent policy changes, the global transition to electric vehicles (EVs) is well under way.
By the year 2040, sales of electric vehicles are projected to account for 58% of new car sales, up from just 2.7% currently.
But switching from a gasoline car to an electric one is not seamless. With charging and range capacities to consider, and the supporting infrastructure still being slowly rolled out in many parts of the world, understanding the realities of EV transportation is vital.
Above, we highlight 2020 all-electric vehicle range on well-recognized routes, from California’s I-5 in the U.S. to the A2 autobahn in Germany. The data on estimated ranges and costs are drawn from the U.S. EPA as well as directly from manufacturer websites.
The EV Breakdown: Tesla is King of Range
For many consumers, the most important aspect of an electric vehicle is how far they can travel on a single charge.
Whether it’s for long commutes or out-of-city trips, vehicles must meet a minimum threshold to be considered practical for many households. As the table below shows, Tesla’s well-known EVs are far-and-away the best option for long range drivers.
|Vehicle||Range (miles)||Range (km)||MSRP||Cost per mile|
|Tesla Model S Long Range Plus||402||647||$74,990||$186.54|
|Tesla Model X Long Range Plus||351||565||$79,990||$227.89|
|Tesla Model S Performance||348||560||$94,990||$272.96|
|Tesla Model 3 Long Range||322||518||$46,990||$145.93|
|Tesla Model Y Long Range||316||509||$49,990||$158.20|
|Tesla Model X Performance||305||491||$99,990||$327.84|
|Tesla Model 3 LR Performance||299||481||$54,990||$183.91|
|Tesla Model Y Performance||291||468||$59,990||$206.15|
|Chevrolet Bolt EV||259||417||$36,620||$141.39|
|Hyundai Kona Electric||258||415||$37,190||$144.15|
|Tesla Model 3 Standard Range Plus||250||402||$37,990||$151.96|
|Kia Niro EV||239||385||$39,090||$163.56|
|Nissan LEAF e+ S||226||364||$38,200||$169.03|
|Audi e-tron Sportback||218||351||$69,100||$316.97|
|Nissan LEAF e+ SV/SL||215||346||$39,750||$184.88|
|Porsche Taycan 4S Perf Battery Plus||203||327||$112,990||$556.60|
|Porsche Taycan Turbo||201||323||$153,510||$763.73|
|Porsche Taycan Turbo S||192||309||$187,610||$977.14|
|Hyundai IONIQ Electric||170||274||$33,045||$194.38|
|MINI Cooper SE||110||177||$29,900||$271.82|
In an industry where innovation and efficiency are vital, Tesla’s first-mover advantage is evident. From the more affordable Model 3 to the more luxurious Model S, the top eight EVs with the longest ranges are all Tesla vehicles.
At 402 miles (647 km), the range of the number one vehicle (the Tesla Model S Long Range Plus) got 127 miles more per charge than the top non-Tesla vehicle, the Polestar 2—an EV made by Volvo’s standalone performance brand.
Closer Competition in Cost
Though Tesla leads on overall range and battery capacity, accounting for the price of each vehicle shows that cost-efficiency is far more competitive among brands.
By dividing the retail price by the maximum range of each vehicle, we can paint a clearer picture of efficiency. Leading the pack is the Chevrolet Bolt, which had a cost of $141.39/mile of range in 2020 while still placing in the top 10 for range with 259 miles (417 km).
Just behind in second place was the Hyundai Kona electric at $144.15/mile of range, followed by the Tesla Model 3—the most efficient of the automaker’s current lineup. Rounding out the top 10 are the Nissan LEAF and Tesla Model S, but the difference from number one to number ten was minimal, at just over $45/mile.
|Top 10 All-Electric Vehicles by Cost Efficiency|
|Vehicle||Cost per mile|
|Chevrolet Bolt EV||$141.39|
|Hyundai Kona Electric||$144.15|
|Tesla Model 3 Long Range||$145.93|
|Tesla Model 3 Standard Range Plus||$151.96|
|Tesla Model Y Long Range||$158.20|
|Kia Niro EV||$163.56|
|Nissan LEAF e+ S||$169.03|
|Tesla Model 3 LR Performance||$183.91|
|Nissan LEAF e+ SV/SL||$184.88|
|Tesla Model S Long Range Plus||$186.54|
Higher Ranges and Lower Costs on the Horizon
The most important thing to consider, however, is that the EV industry is entering a critical stage.
On one hand, the push for electrification and innovation in EVs has driven battery capacity higher and costs significantly lower. As batteries account for the bulk of weight, cost, and performance in EVs, those dividends will pay out in longer ranges and greater efficiencies with newer models.
Equally important is the strengthening global push for electric vehicle adoption. In countries like Norway, EVs are already among the best selling cars on the market, while adoption rates in China and the U.S. are steadily climbing. This is also being impacted by policy decisions, such as California’s recent announcement that it would be banning the sale of gasoline cars by 2035.
Meanwhile, the only thing outpacing the growing network of Tesla superchargers is the company’s rising stock price. Not content to sit on the sidelines, competing automakers are rapidly trying to catch up. Nissan’s LEAF is just behind the Tesla Model 3 as the world’s second-best-selling EV, and Audi recently rolled out a supercharger network that can charge its cars from 0% to 80% at a faster rate than Tesla.
As the tidal wave of electric vehicle demand and adoption continues to pick up steam, consumers can expect increasing innovation to drive up ranges, decrease costs, and open up options.
Correction: A previous version of this graphic showed a European route that was the incorrect distance.
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