European companies are outperforming China and the US in green energy and cleantech revenues, according to the latest report ranking 200 of the publicly listed companies leading the way with solutions for the transition to a clean energy future.
Companies including Siemens, ABB, Schneider and Philips are among the 37 European companies topping the Clean200, a list developed by US media firm Corporate Knights in partnership with US NGO As You Sow.
“Siemens is top, and you have ABB, Schneider and Philips. Most are more mature than the median company on the Clean200 and have more developed deeper penetration in clean energy markets and larger revenue bases. If you added their clean energy revenue, Europe is slightly in pole position, but China has more diversity,” list co-author Toby Heaps told the Daily Planet.
The Clean200 list was developed using Bloomberg New Energy Finance estimates of the percentage of an organisation’s value attributed to its activities in renewable energy, energy smart technologies, carbon capture and storage, and carbon markets.
It was further whittled down by ensuring companies had at least 10 percent of revenue from new energy, and excluded oil and gas companies that generate less than 50 percent of their power from green sources.
The Clean200 report rankings will be welcomed by those in European innovation policy, where efforts are being channelled into boosting private investment and improving frameworks to help Europe become a global innovation leader.