A third of the world’s greenest companies are now Chinese.
This is according to the Corporate Knights’ Clean 200 report, which ranks the largest 200 companies worldwide by their total clean energy revenues. Firms must be worth over $1 billion (£770m) with at least 10% of revenue coming from clean energy.
It does not include companies that make money from weapons, fossil fuel, child labour or deforestation. Utilities must also supply more than 50% of their energy from renewables.
The report states: said the large Chinese presence signals a “quiet green energy revolution afoot in what is now the world’s largest economy.”
Toyota take first place on the list, with Siemens and Johnson Controls coming in second and third respectively.
The report satys: “The moral case for divesting from fossil fuels has been well argued, but for many, the economic case is less clear. However, as clean energy growth rates take off and demand growth for fossil fuels flatlines, it is probable that divesting fossil from fuels in favor of a clean energy future does not have to come at a sacrifice to long-term investment returns.
“On the risk side, divesting is about not getting stuck holding stranded fossil fuel assets that cannot be burnt if the world is to adhere to a given carbon budget”
The companies represented were based in just 26 countries overall.
The report contrasts the Carbon Underground 200 list, which ranks companies by the carbon intensity of their coal, oil and gas use.