Nordic companies are clearly overrepresented in Corporate Knights 8th annual ranking of the most sustainable companies in the world. Danish pharmaceutical company Novo Nordisk (OMX: NOVO B) was chosen as the most sustainable company by a wide margin. Last year Novo was down in 16th place. It scored particularly well in this study in energy productivity and in CEO vs. average employee compensation.
The idea of the list is to find companies who not only act in the interests of the business but also for the entire planet in doing so. That means that companies fully take social, economic and ecological costs and benefits into account. A situation where a company’s private optimum level of production differs from the social optimum due to externalities is one type of market failure, which is not normally addressed on the corporate level.
Other Nordic companies close to the top are oil producer Statoil ASA (OSE:STL) at number 3 and Danish biotech company Novozymes A/S (OMX: NZYM B) at number four. Aluminium producer Norsk Hydro ASA (OSE: NHY) and Swedish industrial group Atlas Copco (OMX: ATCO A, ATCO B)) round up the top ten.
Below the top ten one can also find Swedish telecom company TeliaSonera (OMX: TLSN, OMXH: TLS1V) at 13, oft-maligned oil refining and marketing company Neste Oil Oyj (OMX: NES1V) from Finland at 19, Danish wind turbine manufacturer Vestas Wind Systems A/S (OMX: VWS) at number 31, Swedish heavy trucks and buses manufacturer Scania AB (OMX: SCV B) at 36, Reverse vending machines firm Tomra Systems ASA (OSE: TOM) at number 39, Finnish retailing conglomerate Kesko Oyj (OMX: KESB) at 43, Norwegian financial services company StoreBrand ASA (OSE: STB) at 54, Swedish retail-clothing giant H & M Hennes & Mauritz AB (STO:HM B) at 67 and Danish medical devices firm Coloplast A/S (OMX: COLO B) on 84th place.
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