As the world grapples with unprecedented health and economic crises, it can be difficult to remain optimistic about what the future holds. But here's something to be hopeful for: sustainable businesses around the globe are flourishing even amidst this challenge. The rise of eco-friendly, green business practices has been on an upward trajectory in recent years, as more and more companies recognize that prioritizing sustainability is essential for their ongoing success—and invite customers who want to make ethically conscious choices—in these tumultuous times.
The 19th annual Global 100 ranking of the world’s most sustainable companies is testament to this, shining a light on those businesses that take their sustainability seriously and are thriving as a result.
The top-ranked company on this year’s list is Schnitzer Steel, an international metals recycler based in Oregon, USA. This is indicative of the rising importance placed on circular economy measures and resource efficiency through recycling and reusing materials that would otherwise be sent to landfill or incineration plants.
In response to increasing oil prices, industries such as renewable energy and electric vehicles have grown exponentially over the past few years. Companies involved in producing smart buildings, clean transportation solutions and other climate solutions are flourishing despite challenging market conditions due to strong consumer demand for their products and services. “Global 100 companies are providing the products and services that are needed for the sustainability transition and that will form the basis of the emerging 21st-century economy,” says Torrie Smith from Corporate Knights Inc., which produces the Global 100 rankings each year. Indeed, this is reflected in financial performance; Smith notes that these companies have outperformed traditional markets throughout these turbulent times.
The rise of Sustainable Investment (SI) funds has also brought attention to the importance of business sustainability. SI funds offer investors a way to back companies whose operations reflect their own ethical values while still making healthy returns on investment – something which many individuals feel more comfortable with than simply investing in anonymous funds with no regard for environmental or social impact considerations.
Recent research carried out by global consultancy firm Ernst & Young suggests that over two thirds of consumers believe it is important for businesses to demonstrate a commitment to sustainability when making purchasing decisions – creating further incentive for businesses to take sustainability seriously if they want financial success now and into the future.
As we move towards an ever more uncertain future shaped by global pandemics and climate change, it looks increasingly likely that businesses must embrace sustainability if they wish to remain competitive in an ever-evolving marketplace. The Global 100 rankings demonstrate that those who do so often reap rewards both financially as well as environmentally – proving once again that profitable businesses can go hand-in-hand with responsible stewardship of our planet’s resources as we strive towards a sustainable future together.