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Mapped: Where Are the World’s Most Sustainable Companies?

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The Most Sustainable Companies

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.

RankCompanyIndustryCountry
#1Ørsted A/SWholesale Power🇩🇰 Denmark
#2Chr. Hansen Holding A/SFood and other chemical agents🇩🇰 Denmark
#3Neste OyjPetroleum Refineries🇫🇮 Finland
#6Novozymes A/SSpecialty and Performance Chemicals🇩🇰 Denmark
#7ING Groep NVBanks🇳🇱 Netherlands
#8Enel SpAWholesale Power🇮🇹 Italy
#11Osram Licht AGElectrical Equipment and Power Systems🇩🇪 Germany
#13Storebrand ASAInsurance🇳🇴 Norway
#14Umicore SAPrimary Metals Products🇧🇪 Belgium
#17Iberdrola SAWholesale Power🇪🇸 Spain
#18Outotec OyjMachinery Manufacturing🇫🇮 Finland
#20Accenture PLCTechnology Consulting Services🇮🇪 Ireland
#21Dassault Systemes SESoftware🇫🇷 France
#23Kering SAApparel and Accessory Products🇫🇷 France
#24UPM-Kymmene OyjForestry and Paper Products🇫🇮 Finland
#27H & M Hennes & Mauritz ABApparel and Accessories Retail🇸🇪 Sweden
#28Sanofi SABiopharmaceuticals🇫🇷 France
#29Schneider Electric SEIndustrial Conglomerates🇫🇷 France
#31BNP Paribas SABanks🇫🇷 France
#32Kone OyjMachinery Manufacturing🇫🇮 Finland
#33Verbund AGWholesale Power🇦🇹 Austria
#34Valeo SAConsumer Vehicles and Parts🇫🇷 France
#35ERG S.p.A.Wholesale Power🇮🇹 Italy
#37Vestas Wind Systems A/SElectrical Equipment and Power Systems🇩🇰 Denmark
#38bioMérieuxDiagnostics and Drug Delivery Devices🇫🇷 France
#39Intesa Sanpaolo SpABanks🇮🇹 Italy
#40Koninklijke KPN NVWireless and Wireline Telecomm. Services🇳🇱 Netherlands
#41Siemens AGIndustrial Conglomerates🇩🇪 Germany
#45Koninklijke DSM NVFood and other chemical agents🇳🇱 Netherlands
#46Unilever PLCPersonal Care and Cleaning Products🇬🇧 UK
#52EricssonCommunications Equipment🇸🇪 Sweden
#55Adidas AGApparel and Accessory Products🇩🇪 Germany
#56AstraZeneca PLCBiopharmaceuticals🇬🇧 UK
#59Commerzbank AGBanks🇩🇪 Germany
#61Abb LtdIndustrial Conglomerates🇨🇭 Switzerland
#64Pearson PLCPersonal Professional Services🇬🇧 UK
#65BT Group PLCWireless and Wireline Telecomm. Services🇬🇧 UK
#66Metso OyjMachinery Manufacturing🇫🇮 Finland
#69Assicurazioni Generali SpAInsurance🇮🇹 Italy
#70Acciona SAFacilities and Construction Services🇪🇸 Spain
#71Novo Nordisk A/SBiopharmaceuticals🇩🇰 Denmark
#73Skandinaviska Enskilda Banken ABBanks🇸🇪 Sweden
#76Ucb S.A.Biopharmaceuticals🇧🇪 Belgium
#79GlaxoSmithKline PLCBiopharmaceuticals🇬🇧 UK
#87BASF SESpecialty and Performance Chemicals🇩🇪 Germany
#94Industria de Diseno Textil SAApparel and Accessories Retail🇪🇸 Spain
#98L'Oreal SAPersonal Care and Cleaning Products🇫🇷 France
#99Kesko CorporationFood and Beverage Retail🇫🇮 Finland
#100Amundi SAInvestment 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.

RankCompanyIndustryCountry
#4Cisco Systems IncCommunications Equipment🇺🇸 U.S.
#5Autodesk IncSoftware🇺🇸 U.S.
#10Algonquin Power & Utilities CorpElectric Utilities🇨🇦 CA
#15Hewlett Packard Enterprise CoComputer Hardware🇺🇸 U.S.
#16American WaterWater Utilities🇺🇸 U.S.
#22McCormick & CompanyFood and Beverage Production🇺🇸 U.S.
#26Prologis IncReal Estate Investment Trusts (REITs)🇺🇸 U.S.
#44Bombardier IncAerospace and Defense Manufacturing🇨🇦 CA
#47Sims Metal Management LtdPrimary Metals Products🇺🇸 U.S.
#48Bank of MontrealBanks🇨🇦 CA
#49Cascades IncContainers and Packaging🇨🇦 CA
#53Danaher CorporationMedical Devices🇺🇸 U.S.
#54Canadian National Railway CoCargo Transportation and Infrastructure Services🇨🇦 CA
#57Stantec IncFacilities and Construction Services🇨🇦 CA
#58HP IncComputer Peripherals and Systems🇺🇸 U.S.
#60Sun Life Financial IncInsurance🇨🇦 CA
#62Alphabet IncInternet and Data Services🇺🇸 U.S.
#67Comerica IncorporatedBanks🇺🇸 U.S.
#74Tesla IncConsumer Vehicles and Parts🇺🇸 U.S.
#77Workday IncSoftware🇺🇸 U.S.
#78Merck & Co IncBiopharmaceuticals🇺🇸 U.S.
#81Intel CorporationSemiconductor Manufacturing🇺🇸 U.S.
#82Analog Devices IncSemiconductor Manufacturing🇺🇸 U.S.
#83IGM Financial IncInvestment Services🇨🇦 CA
#84Canadian Solar IncElectrical Equipment and Power Systems🇨🇦 CA
#88Cogeco Communications IncWireless and Wireline Telecomm. Services🇨🇦 CA
#91Teck Resources Ltd.Metal Ore Mining🇨🇦 CA
#93Campbell SoupFood and Beverage Production🇺🇸 U.S.
#96Telus 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).

RankCompanyIndustryCountry
#12Sekisui ChemicalsOther Materials🇯🇵 Japan
#25Taiwan SemiconductorSemiconductor Equipment and Services🇹🇼 Taiwan
#36City Developments LtdReal Estate Investment and Services🇸🇬 Singapore
#43Shinhan Financial GroupBanks🇰🇷 South Korea
#50AdvantechComputer Hardware🇹🇼 Taiwan
#63Capitaland LimitedReal Estate Investment and Services🇸🇬 Singapore
#68Takeda PharmaceuticalBiopharmaceuticals🇯🇵 Japan
#72Konica MinoltaComputer Peripherals and Systems🇯🇵 Japan
#80SamsungElectrical Equipment and Power Systems🇰🇷 South Korea
#85BYD Co.Consumer Vehicles and Parts🇨🇳 China
#86Kao Corp.Personal Care and Cleaning Products🇯🇵 Japan
#89Panasonic Corp.Computer Hardware🇯🇵 Japan
#90VitasoyFood and Beverage Production🇭🇰 Hong Kong
#92Toyota Motor Corp.Consumer Vehicles and Parts🇯🇵 Japan
#95SingtelWireless and Wireline Telecomm. Services🇸🇬 Singapore
#97Lenovo GroupComputer 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.

RankCompanyIndustryCountry
#9Banco do Brasil SABanks🇧🇷 Brazil
#19CEMIGElectric Utilities🇧🇷 Brazil
#30Natura Cosmeticos SAPersonal Care and Cleaning Products🇧🇷 Brazil
#42National Australia Bank LtdBanks🇦🇺 Australia
#51Standard Bank Group LtdBanks🇿🇦 South Africa
#75Westpac Banking CorpBanks🇦🇺 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):

MetricG100MSCI ACWI
Annualized Return7.3%7.0%
Average Company Age83 years49 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.

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How Carbon Credits Can Help Close the Climate Funding Gap

To keep a 1.5℃ world within reach, global emissions need to fall by as much as 45% by 2030, and carbon credits could help close the gap.
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April 22, 2024

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Teaser image, featuring a bubble chart of assorted trillion-dollar values, for an infographic showing how carbon credits can help close the climate funding gap.

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The following content is sponsored by Carbon Streaming
Infographic featuring a bubble chart using data from the Climate Policy Institute, a pair of pie charts using data from Ecosystem Marketplace, a stacked bar chart showing corporate carbon emission targets using data from the Science-Based Targets initiative, and a bar chart showing analysts' projections for the size of the voluntary carbon credit market, that argues that carbon credits can help close the climate funding gap.

How Carbon Credits Can Help Close the Climate Funding Gap

Governments around the world have committed to the goals of the Paris Agreement, but their climate pledges are insufficient. To keep a 1.5℃ world within reach, global emissions need to fall by as much as 45% by 2030.

Bold and immediate action is essential, but so are resources that will make it happen. 

In this graphic, we have partnered with Carbon Streaming to look at the role that the voluntary carbon market and carbon credits can play in closing that gap.

More Funds are Needed for Climate Finance

According to data from the Climate Policy Initiative, climate finance, which includes funds for both adaptation and mitigation, needs to increase at least five-fold, from $1.3T in 2021/2022, to an average $8.6T annually until 2030, and then to just over $10T in the two decades leading up to 2050. 

That adds up to a very large number, but consider that in 2022, $7.0T went to fossil fuel subsidies, which almost covers the annual estimated outlay. And the world has shown that when pressed, governments can come up with the money, if the global pandemic is any indication. 

Mobilizing Carbon Finance to the Developing World

But the same cannot be said of the developing world, where debt, inequality, and poverty reduce the ability of governments to act. And this is where carbon credits can play an important role. According to analyses from Ecosystem Marketplace, carbon credits help move capital from developed countries, to where funds are needed in the developing world. 

For example, in 2019, 69.2% of the carbon credits by volume in the voluntary carbon market were purchased by buyers in Europe, and nearly a third from North America. Compare that to over 90% of the volume of carbon credits sold in the voluntary carbon market in 2022 came from projects that were located outside of those two regions.  

Carbon Credits Can Complement Decarbonization Efforts

Carbon credits can also complement decarbonization efforts in the corporate world, where more and more companies have been signing up to reduce emissions. According to the 2022 monitoring report from the Science Based Targets initiative, 4,230 companies around the world had approved targets and commitments, which represented an 88% increase from the prior year. However, as of year end 2022, combined scope 1 and 2 emissions covered by science-based targets totaled approximately 2 GtCO2e, which represents just a fraction of global emissions. 

The fine print is that this is just scope 1 and 2 emissions, and doesn’t include scope 3 emissions, which can account for more than 70% of a company’s total emissions. And as these emissions come under greater and greater scrutiny the closer we get to 2030 and beyond, the voluntary carbon credit market could expand exponentially to help meet the need to compensate for these emissions.

Potential Carbon Credit Market Size in 2030

OK, but how big? In 2022, the voluntary carbon credit market was around $2B, but some analysts predict that it could grow to between $5–250 billion by 2030. 

FirmLow EstimateHigh Estimate
Bain & Company$15B$30B
BarclaysN/A$250B
Citigroup$5B$50B
McKinsey & Company$5B$50B
Morgan StanleyN/A$100B
Shell / Boston Consulting Group$10B$40B

Morgan Stanley and Barclays were the most bullish on the size of the voluntary carbon credit market in 2030, but the latter firm was even more optimistic about 2050, and predicted that the voluntary carbon credit market could grow to a colossal $1.5 trillion. 

Carbon Streaming is Focused on Carbon Credit Integrity

Ultimately, carbon credits could have an important role to play in marshaling the resources needed to keep the world on track to net zero by 2050, and avoiding the worst consequences of a warming world. 

Carbon Streaming uses streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and UN Sustainable Development Goals.  

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Learn more at www.carbonstreaming.com.

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