With the world becoming more environmentally conscious, eco-friendly companies are experiencing increased success.
As per the latest trends, customers are making purchases prioritizing environmental impact. Their decision to work with companies that share a commitment to environmental protection comes at a time when the option is becoming increasingly obvious. It can be difficult to distinguish between companies that are legitimately eco-friendly and the ones that are simply hopping on the environmental bandwagon and gradually labeling themselves ‘eco-friendly.’
Given the gravity of the current climate crisis, it is critical for businesses to maintain high environmental expectations and applaud businesses that continue to prioritize and work at the forefront of environmental innovation. We all know that ‘eco-friendly’ means a lot more than simply not harming the climate. Environmental consciousness is woven into every part of the company’s brand for genuinely eco-friendly businesses.
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Environmentally friendly companies not only produce products that are sustainable and sourced ethically, but they also follow environmentally friendly manufacturing and production methods. Environmentally friendly companies are also working to fully change the landscape of businesses’ involvement and responsibility in environmental protection.
In their battle against climate change, Eco-friendly companies go beyond their products. In addition to engraining sustainability within their core business functions, they also work to protect the environment by advocating for sustainable policies, raising environmental consciousness and encouraging local involvement in conservation efforts, collaborating with other campaigns and groups, and more.
To identify the best of these companies, we have factored in parameters on how innovative their technology is or how sustainable their operational practices are.
Most Sustainable Companies for 2024:
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Schneider Electric
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Ørsted
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Nvidia
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Cisco Systems Inc
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Keysight Technologies KEYS
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Neste
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Stantec
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McCormick & Company
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Kering
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Metso Outotec
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American Water Works Company
Schneider Electric
Recognized as the leader in the digital transformation of energy management and automation, Schneider Electric is one of the world's most eco-friendly companies. The European energy and automation MNC was recognized for its expedient and continuous commitment to ESG for the 11th time in 2022.
Schneider Electric is contributing to lowering CO2 emissions and reducing the rise of temperature of the Earth by emphasizing innovative and renewable disruptors. Their initiatives are helping to prevent overheating of the Earth's atmosphere and producing environmentally friendly goods that enable better access to energy.
Schneider Electric Chair and CEO Jean-Pascal Tricoire stated that the foundation of their strategy is to establish a business and organization that is sustainable. Schneider has always been committed to ESG concerns, and they continue to set higher standards for themselves, as well as their customers and partners.
Ørsted
As one of the most sustainable companies, Ørsted has pledged to battle climate change with renewable energy. Ørsted offers energy products to its customers and is the only energy enterprise globally with a net-zero emissions target. The company, also known as one of the largest renewable energy developers, has transitioned from using fossil fuels to renewable energy for its operations and has set its target to achieve carbon neutrality by 2025.
Ørsted aims to provide a net-positive biodiversity impact from all new renewable energy projects it will commission from 2030. The company has been consistently ranking high in the Global 100 list. And the brand's vision reflects both its dedication to driving a profitable and sustainable business and its resolution to create a world that runs entirely on green energy. A catalyst for green energy transformation, they are instrumental in the battle against climate change.
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Nvidia
Nvidia is one of the world’s largest manufacturers of semiconductor chips. It is one of the world’s leading designers of graphics processing units (GPUs) and system-on-chip units (SOCs) for the gaming, mobile, and automotive industries.
As a manufacturer of chips, and at that scale, Nvidia has a massive carbon footprint. It mines materials, and its factories and labs are power-hungry and consume a lot of water. However, Nvidia is renowned for its sustainability practices, operating at power efficiencies as high as 35%. By 2025, it has pledged to increase its renewable energy usage to 65%.
The manufacturer is also 100% Responsible Minerals Assurance Process-compliant. Besides environmental stewardship, it is also renowned for its generous medical plan and paid parental leave policy.
Cisco Systems Inc
Leading developers and manufacturers of networking hardware, software, and telecommunication equipment, Cisco ranks in the list of the world's most eco-friendly companies. It is remarkably energy-efficient across its supply chain, from sourcing materials, designing products, and consuming electricity to promoting fair hiring and securing data. Cisco claims that 80% of its electricity (operations only) is clean. It has also reduced its Scope 1 and Scope 2 emissions by nearly 50%. (Scope 1 refers to emissions generated by direct, owned sources like company vehicles. Scope 2 refers to indirect sources like cooling or heating systems. While Scope 3 emissions are caused by the remaining aspects in the value chain, like employee commute and waste management.)
Keysight Technologies KEYS
A leader in communications testing and measurement solutions, Keysight Technologies contains the strongest and broadest communications testing capabilities across hardware, software, and services. Due to Keysight's strong ESG reporting and oversight of ESG issues, the company is implementing a strong whistleblower program that incorporates adequate governing policies for environmental issues and strong social supply chain standards.
Neste
Neste is a global leader in sustainability, renowned for its renewable diesel, sustainable aviation fuel, chemical recycling to reduce plastic waste, and innovation in refining raw materials into renewable fuels. The Finnish company went from third to fourth place in a year, but it is still on the Corporate Knights Global 100 Index for the 15th year in a row, which is far longer than any other global energy company.
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According to Peter Vanacker, Neste President and CEO, the company’s goal of making the world a better place for our children motivate them to strive for greater heights every day. Numerous businesses are constantly upgrading their sustainability initiatives, making it increasingly challenging to make a list each year. It’s encouraging to see more businesses actively incorporating sustainability into their operations.
Stantec
Stantec is not just one of the world’s most environmentally friendly companies, but it also leads the way in North America. Half of the company’s overall score came from clean earnings and clean investment, which are commodities and services that have a proven environmental and social impact.
Stantec President and CEO Gord Johnston stated that their outstanding track record on sustainability is the product of their people’s profound commitment and excellent leadership across their worldwide operations. Their teams are working to improve sustainability in their own operations, as well as assisting clients in setting and achieving their sustainability objectives.
McCormick & Company
McCormick & Company may be regarded as the world’s sixth most sustainable company, but it is also the food industry’s leader. The packaged and processed foods industry in the United States has risen 16 spots to its highest place since the index’s inception five years ago.
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According to Lawrence E Kurzius, McCormick & Company Chairman, and President, it has never been more crucial to join hands towards the future of flavor and to reduce their influence on the planet. The company is committed to generating clean revenue, delivering renewable energy projects, and transitioning to 100% circular packaging.
Kering
The only luxury corporation to make it to the top ten sustainable companies list is Gucci, Saint Laurent, Bottega Veneta, Ulysse Nardin, and Pomellato’s parent company.
Kering maintained its strong position when evaluated against 24 quantitative KPIs, including resource management, people management, financial management, clean revenue and investment, and supplier performance. Sustainability is advocated at every governance level, from the Board of Directors to the House managers, in order to shape the future of luxury.
According to Conservation International CEO Dr. M Sanjayan, Kering’s pledge to safeguard the environment on which it relies is a huge leap for the fashion industry, and it represents a massive gateway for the luxury sector to influence the masses and help reimagine fashion and luxury goods. Kering's 2025 sustainability strategy targets are aimed at creating value for their customers and society as a whole.
Metso Outotec
Metso Outotec, a global leader in sustainable technology and services, catering to recycling industries, aggregates, and mineral processing industries, is ranked 8th on the Global 100 Index. The Finland-based corporation has set a variety of ambitious targets, including limiting global warming to 1.5 degrees Celsius, in order to make a positive impact on the earth as a sustainable leader.
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Metso Outotec’s Senior Vice President of Business Development, Piia Karhu, stated that for their aggregates and metals and minerals industry customers, their focus is on producing sustainable goods and services. They accelerate sustainable innovation together by collaborating with their customers, partners, and communities.
American Water Works Company
American Water is one of the world’s most eco-friendly companies because of its leadership and transparency. The US company, which was founded in 1886 and employs over 6,800 employees, is the largest publicly traded water and wastewater utility company in the world.
Despite serving 15 million people in 46 states, the corporation saves 12.5 billion liters of water every year thanks to its efficiency techniques. It has also committed to a 40% reduction in greenhouse gas emissions by 2025.
According to Walter Lynch, President, and CEO of American Water, providing a consistent supply of safe, clean, and affordable water to their customers, as well as treating their wastewater, is just one part of their commitment to constantly improve their business’s sustainability and create a greater societal impact.
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Key Highlights: Top Sustainable Companies
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The purchase decisions of consumers have changed dramatically in recent years. They are willing to spend more on eco-friendly products and solutions that are marketed as sustainable.
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Sustainable companies are witnessing stronger growth and more loyal customers, as today, sustainability matters more than ever.
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The rise in support of eco-friendly companies is making sustainability a vital aspect of customer experience and is critical for the environment.
Most Sustainable Companies - Conclusion
An organization's approach to sustainability illustrates how it anticipates as well as addresses the associated long-term risks. Companies that mishandle ESG issues are likely to incur high economic costs, thus jeopardizing their ability to earn long-term, sustainable profits.
The above-mentioned major green tech companies are expected to perform well in future. With the ever-growing demand for eco-friendly and green technology products and solutions, these corporations will likely become increasingly popular in years to come to foster strong ESG management practices for a long-term advantage.
Now is the time for organizations to accelerate the pace of change!
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