America's Greenest Companies 2024

America's Greenest Companies 2024

Experts warn that the climate crisis is one of the most significant threats of our time. Extreme weather events are affecting more and more people. Scientists see degraded ecosystems leading to an alarming extinction rate. And issues like deforestation and water scarcity are becoming urgent.

The challenges are immense—and complex. But there is much to be hopeful about. Earlier this year Newsweek  launched Better Planet, where we highlight innovators and innovations making the world healthier and safer.

We are pleased to now announce our first ranking of America's Greenest Companies (published in partnership with market data research firm Plant-A Insights and GIST Impact, a leading impact data and analytics provider) which captures a snapshot in time of where the leading companies are—and sets a benchmark for future rankings. These companies have committed to being good stewards of the environment, working to save the Earth and its resources for future generations.

There are challenges in doing this ranking. Much of the data available is self-reported, so there may be gaps or inaccuracies. To prevent "greenwashing" through narrow criteria, companies were evaluated on a broad base of four criteria: greenhouse gas emissions, water usage, waste generation, and commitment and disclosures. It's important to note that organizations or industries have inherently differing environmental effects; the rankings should be seen in context. Companies were scored based on performance relative to their industries.

We hope this ranking helps consumers identify the companies that try to live sustainably, just like many of us.

GIST Impact kindly provided data and methodology for this project. GIST Impact is a leading impact data and analytics provider that has been measuring and quantifying corporate impacts for more than 16 years, with a team of 100+ scientists, engineers, data scientists, and environmental economists. GIST Impact works with pioneering companies across all sectors and investors representing over $8 trillion in assets under management, and partners with the world's largest ESG data providers, business networks, and fintech platforms.

METHODOLOGY

Click here to request the detailed methodology document.

Plant-A Insights Group and GIST IMPACT are partnered with Newsweek to determine America's Greenest Companies 2024."America's Greenest Companies 2024" recognizes the top 300 companies for their progress in managing their sustainability footprint.

The ranking of America's Greenest Companies identified the top 300 companies in the USA based on environmental sustainability. The list is based on research and analysis of public data of the top 952 organizations in the USA who have a market capitalization of minimum 5 billion USD, pass the minimum standards set by the European Union (seen as the most evolved set of standards globally), and have publicly disclosed sustainability data as of 31 July 2023.

The companies were evaluated and scored on more than 25 parameters based on the following 4 categories:

1. Greenhouse Gas (GHG) Emissions

2. Water Usage

3. Waste Generation

4. Sustainability Data Disclosure and Commitments

Media Monitoring / validation. We screen the entire press coverage of all companies that were part of the study based on legal disputes that are relevant to the project. Newsweek and Plant-A reserves the right to remove companies from the ranking. The media monitoring project was kindly supported by Critical Mention an Onclusive company. Onclusive is the leading media monitoring partner with its world-class sentiment technology.

Validation: The final step was the ranking validation and plausibility check by Newsweek's editorial team and Plant A.

Disclaimers:

The 'America's Greenest Companies' ranking is based on research and analysis of publicly available sustainability data as of July 31, 2023, of the top 952 US organizations that meet the European Union's sustainability standards and have a minimum market capitalization of $5 billion. Placement in the ranking is a positive recognition based on research of publicly available data sources at the time. Newsweek, Plant-A Insights Group LLC ("Plant-A"), and GIST Advisory Switzerland S.A. ("GIST Impact") make no express or implied claims or warranties regarding the accuracy, completeness, reliability, or suitability of the information, data, or analysis related to the examined companies. This ranking should be considered in conjunction with other available information and should not replace legal, investment, business advice, or individual business judgment. Plant-A, GIST Impact, their subsidiaries, and respective officers, directors, shareholders, employees, or agents disclaim any responsibility or liability for reliance on this document's information or analysis. The quality of companies not included in the ranking is not contested. This work is copyright by Plant-A Insights Group LLC and may not be published, transmitted, broadcasted, copied, reproduced, or reprinted in whole or in part without explicit written permission from Plant-A Insights Group LLC. Copyright © 2023 Plant-A Insights Group LLC. All rights reserved.

1. Data Accuracy and Reliability: Rankings are derived from data reported by companies in their disclosure statements, reports and websites. Although efforts have been made to ensure accuracy, discrepancies or incomplete data due to partial disclosures might impact results. Some metrics rely on voluntary reporting, leading to variations in data availability and comparability.

2. Scope and Boundary of Assessment: The rankings focus on operational emissions and do not encompass upstream or downstream emissions. Product and service-related impacts on stakeholders are not considered. This is due to value chain disclosure limitations and the need for consistent assessment.

3. Data Availability: Rankings are influenced by data availability and quality. Companies with comprehensive disclosures might have an advantage.

4. Industry-Specific Factors: Industries possess distinct characteristics and emissions profiles that can influence rankings. While the methodology aims to be comprehensive, industry nuances might not be fully captured. Comparing companies from vastly different sectors might not yield meaningful results. This study uses the GIST Impact industry classification system for categorizing companies and evaluating deviation from industry benchmark.

5. Data Lag: Rankings might be affected by data lag, potentially impacting comparisons with other companies' latest information and shifting the baseline for comparison of emission reductions.

6. Company-Specific Factors: Unique company situations, such as acquisitions or strategic changes, might not be fully accounted for in the methodology.

7. Scope of Metrics: The methodology concentrates on environmental metrics like GHG emissions, water usage, and waste generation, potentially overlooking other significant sustainability factors. This is driven by data availability and the need for consistency.

8. Qualitative Impact: Certain impactful sustainability efforts, such as cultural shifts or stakeholder engagement, might not be quantified in the methodology.

9. Comparison with Peers: Rankings are relative within the analyzed dataset. Changes in dataset composition can influence a company's rank, irrespective of consistent performance.

10. Exclusion Criteria Interpretation: Exclusion criteria involve subjectivity, as activities or revenues could be interpreted differently among companies and industries.

11. Weight Allocation: Indicator weight choice involves informed decision-making, but subjectivity might be present. Different weightings could lead to varied rankings.

12. Contextual Considerations: Rankings do not account for contextual factors like geographical locations, regulations, or business strategy. They also do not consider accidental events or controversies. Rankings do not account for regional or local variations in environmental regulations, resources, or challenges faced by different companies.

13. Emphasis on Latest Data: Rankings rely more on recent data to highlight the present scenario. Long-term efforts might not be fully captured, but emissions reductions from sustainability efforts are recognized.

14. Complexities in Scoring: The final score and ranking might not fully encompass all aspects of a company's environmental efforts. Interpretation of data, weightings, and metrics can introduce subjective elements, and different stakeholders might assess the same data differently.

15. Multiple Factors at Play: Rankings are influenced by various factors; lower-ranked companies might still have noteworthy sustainability initiatives.

16. Investment and Progress: Rankings do not reflect a company's investments in sustainability, especially if results are yet to materialize.

17. External Influences: External factors like global events, regulations, or economic shifts could impact rankings.

18. Relative Nature: Rankings provide relative assessments within a specific dataset, not indicative of absolute sustainability excellence.

19. Short-Term vs. Long-Term: Rankings might prioritize short-term achievements over long-term changes, both valuable but differing in timeline.

20. Corporate Strategy: Rankings might not fully portray how a company's strategy impacts its commitment to environmental sustainability.