A total of 500 companies from all around the world made it to the Most Sustainable Companies list.

TIME magazine and data firm Statista have released a list of the World’s Most Sustainable Companies for 2024. Over 5,000 of the world’s most influential and largest companies were considered for the ranking process. 

Out of the 500 companies that made it to the prestigious list, digital automation and energy management company Schneider Electric was ranked as the world’s most sustainable company. 

According to TIME, Schneider Electric “has not only set ambitious targets to reduce its own emissions—carbon neutral by 2025—but also helps its customers reduce emissions and become more energy efficient through its Sustainability Business.” 

Methodology

In order to determine the companies to be included on the list, TIME and Statista conducted a ranking process that involved four steps. The first step was the exclusion of companies that were involved in non-sustainable industries. These included companies involved in fossil fuels and deforestation. 

For the second step, companies were assessed based on existing external sustainability ratings, as well as their commitments from reputable organizations. These include the following:

• Adherence to the United Nations Global Compact
• Alignment with the Science Based Targets initiative
• CDP ratings
• Inclusion in the S&P Global Sustainability Yearbook
• MSCI Environmental, social, and governance (ESG), socially responsible investing (SRI)
• Participation in the United Nations Framework Convention on Climate Change (UNFCCC) Race to Zero

The third step involved the evaluation of the availability and quality of each company’s sustainability reports. Specifically, this step verified if the companies submitted an Environmental, Social, and Governance (ESG) report for 2022. 

Lastly, the final step involved rigorous research on various environmental and social Key Performance Indicators (KPIs) from the companies’ Corporate Social Responsibility (CSR) reports. Environmental metrics include the following:

• Emission intensity
• Emission reduction rates
• Energy intensity
• Proportion of renewable energy used

Social metrics were likewise taken into consideration. These metrics included the following:

• Employee turnover rate
• Gender diversity on board and in leadership
• Gender pay gap
• Work safety

World’s 10 Most Sustainable Companies 

After the ranking process was completed, the following companies were ranked as the 10 most sustainable companies in the world: