Time Magazine and data intelligence platform Statista have created a list of what they consider the world’s most sustainable companies for 2024.
So, how are sports brands, companies and retailers ranked? Several companies qualified for the list, and one brand performed so well in sustainability that it ranked third overall.
Statistics are never an exact science or truth. It is, of course, possible to conduct this survey in a variety of ways, which would yield different results. Nevertheless, the Times and Statista have done a thorough job and used a large amount of data. Here’s what the Times says about the selection of companies and how they went about ranking them.
The companies at the top of the list have signed on to some of the most respected climate programs, including the 1.5°C target from the Science Based Targets initiative (SBTi), and they receive high scores from CDP (formerly the Carbon Disclosure Project).
Time and Statista further held companies to high standards for their Scope 1 and 2 emissions and energy consumption relative to company size, emissions reductions in 2021 and 2022 (the most recent years fully reported), and the proportion of renewable energy used by the company’s operations. (Scope 1 emissions are directly caused by a company; Scope 2 are indirectly created when a company purchases power.) And, perhaps most importantly, many of the top companies have incorporated sustainability into their business models.
The Top 3 in Time’s world’s most sustainable companies
1. Schneider Electric, France, 88.86 out of 100 points
2. NEC, Japan, 85.71
3. Moncler, Italy, 85.66
Schneider Electric, which is based in France and tops the list, creates software and services for energy management. It has not only set ambitious targets to reduce its own emissions – aiming for carbon neutrality by 2025 – but also helps its customers reduce emissions and become more energy efficient through its sustainability business. It has a sustainability impact program to track its performance and has also reduced emissions across its supply chain. Schneider has received a climate score of “A” from the CDP for 12 years in a row. “We’ve positioned the company to be an impact company,” Schneider CEO Peter W. Herweck said in a recent earnings call.
While many companies that ranked highly are in industries that don’t make many physical products—like banking, tech, and consulting—some companies showed that sustainability is possible even if you make things. Illumina, a US biotechnology company that’s fifth on the list, recently debuted its most powerful gene sequencer while also reducing packaging waste by 90 percent compared to the previous model.
Moncler, the Italian luxury sports fashion house, ranked third on the list by using recycled materials, recycling more than 80 percent of its nylon scraps in 2023, and using 100 percent renewable energy at its directly managed offices, stores, factories, and logistics hubs. “While we take pride in this achievement, we are aware much remains to be done,” said Remo Ruffini, Chairman and CEO of Moncler, when the company was named to the Dow Jones Sustainability Indices in 2023.
Other companies operating in the sports industry, as ranked by Time and Statista:
67. Puma, Germany, 73.02
72. PVH (Tommy Hilfiger), USA, 72.16
245. Lululemon, Canada, 62.26
280. Ralph Lauren, USA, 60.71
430. About You, Germany, 55.15
The complete list of the 500 companies can be found here.
