As You Sow and Corporate Knights has released the 12th cohort of the Carbon Clean200, a global list of 200 publicly traded companies leading the global clean energy economy with US$2.5 trillion in revenue from services and products that reduce demand for fossil fuels.
Apple easily beat Microsoft and Google with $2.5 billion in sustainable revenues by sourcing iPhones and laptops according to the Global Electronic Council’s EPEAT Gold certification. Despite political headwinds, the United States dominated the global list with 42 companies represented.
Andrew Behar, CEO of As You Sow and the report’s co-author, says key findings from the report include:
° The top 10 companies on the list by revenue include Apple, Contemporary Amperex Technology, Microsoft, Tesla, TSMC, and Volkswagen.
° Thirty-five countries are represented in the Clean200, including the U.S. (41), China (21), Japan (18), Germany (14), and France and Canada (11 each).
° Clean200 companies earned over $2.5 trillion in sustainable revenue during 2023 (the most recent year for which full year results are available).
° Clean200 companies generated a total return of 190.9% on a sustainable revenue-weighted basis outperforming the MSCI ACWI index (162.0%) and the MSCI ACWI/Energy Index of fossil fuel companies (76.7%) on Total Return Gross — USD Basis from the Clean200 inception of July 1, 2016, to Jan. 29, 2025.
Clean200 data shows that for the large companies that make up 80% of global market capitalization, sustainable revenues and capital expenditures are growing more than twice as fast as the rest of the market. This trend holds across sectors and regions and puts sustainable companies on a path to dominate the global economy by the end of the next decade, despite political attacks.
“It is telling that clean energy stocks generated more than double the returns of fossil fuel stocks since 2016, despite political headwinds, underlining that stock markets care more about economic materiality of the parabolic growth in clean energy than the political leanings of the day,” said Toby Heaps, CEO of Corporate Knights and report co-author.
Here are the top 10 companies by revenue on the Clean200:
The Clean200 utilizes the Corporate Knights Sustainable Revenue database, which tracks the percentage of revenue companies earn from sustainable economy themes ranging from green power to electric vehicles to plant protein and smart buildings.
The list excludes companies that are flagged on Corporate Knights Red Flag Companies List and As You Sow’s Invest Your Values suite of mutual fund transparency tools that identify companies involved in fossil fuels, deforestation, the prison industrial complex, weapons, and tobacco, as well as Corporate Knights’ exclusionary screens which form part of its Global 100 methodology.
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