Skyrocketing Chinese Electric Vehicle Companies Ascend Position in Global Sustainability Corporations List
The Global 100 annual ranking, which assesses the world's largest publicly traded companies based on their impact on people and the planet, has recognized several Asian companies for their commitment to sustainable business practices.
This year, MLS Co Ltd, LG Energy Solution, Ltd, Voltronic Power Technology Corp, and Taiwan Cooperative Financial Holding Co Ltd made their debut on the index, earning recognition for profiting from business consistent with the United Nations' Sustainable Development Goals.
China's leading electric vehicle manufacturers, NIO Inc, Yadea Group Holdings Ltd, Li Auto Inc, and XPeng Inc, also ranked in the top 50 of the Global 100 list of the world's greenest firms. Yadea launched its sodium battery technology, which does not rely heavily on rare metals and utilizes more renewable energy resources.
NIO has been expanding its battery swapping services, cutting down greenhouse gas emissions associated with grid-powered charging or fossil-fuel-based vehicles.
Trinasolar from China leads the way among the top 50, boasting the highest ESG rating among global photovoltaic module manufacturers. Four Asian companies, including Trinasolar, are among the top 50 of the global ranking, but specific rankings for the other three Asian companies were not found in the provided search results.
The number of Asia Pacific companies in the Global 100 index fell from 24 to 22 this year. Singapore's City Developments Limited (CDL) fell 17 spots from last year in the index, while its local rival CapitaLand dropped out of the index this year.
Despite CDL's success in clean energy and investment ratings, its pay gap widened this year, with top management earning 78 times more than the average worker.
Taiwan High Speed Rail Corp is the second most sustainable company in the region, but it has an all-Taiwanese board and an 80% ratio of male board members.
Australian metals recycler Sims Limited is the greenest company in Asia Pacific in the yearly index. Schneider Electric, a French company, moved up 7 places to claim the top spot in the index this year, committing to no net biodiversity loss in its operations in five years to preserve natural ecosystems and resources.
The ranking assessed 8,359 companies with more than US$1 billion in revenues against 25 sustainability indicators, including revenue and investment derived from sustainable sources, taxes paid, how much value is created with fewer carbon-based fossil resources, racial and gender diversity.
Brambles, a Sydney-headquartered logistics business, dropped from second to fourth spot in the index. The list continues to be composed mainly of Western companies, with nearly half (44) from Europe and 22 from the United States and Canada.
The Global 100 annual ranking quantitatively compares and ranks the world's largest publicly traded companies, emphasizing the impact of a company's operations and its core products and services on people and the planet.
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