Renewable energy has leading role among Canada's Best Corporate Citizens

• Quebec's Boralex Inc. ranks first among this year's top sustainability performers.
• Best 50 Corporate Citizens dramatically outperform on sustainable investments and revenues
• Economy-wide growth in sustainable investments and revenues continues to outstrip non-sustainable, but aggregate levels and related performance outcomes are still falling short.

TORONTO, June 25, 2025 /CNW/ - Renewable electricity producers occupy two of the top three spots in the 2025 edition of Corporate Knights' ranking of the Best 50 Corporate Citizens in Canada. Quebec-based Boralex Inc. climbed from 15^th spot on the 2024 list to become the top-ranked company this year. Alberta-based design and engineering firm Stantec once again took second spot, while Quebec-based Innergex Renewable Energy Inc. – among last year's top five – is in third spot this year.

Among the 2025 Best 50 companies more than half of investments (56.4%) were classified as sustainable, in comparison to only 24.5% among all companies assessed. For sustainable revenues, comparative performance was 41.3% for the Best 50 companies and 22.2% for all companies assessed. The 2025 Best 50 companies also demonstrate the potential to dramatically elevate economy-wide performance on more specific metrics. On average the Best 50 companies earned $1.6 million dollars per tonne of carbon emitted, compared to $0.8 million for all companies assessed. They set an even higher performance benchmark on earnings per unit of energy used at $181,400 vs. $67,700 for all companies assessed.

Economy-wide growth continues to be much stronger in sustainable investments and revenues than in non-sustainable. Within the all-companies-assessed sample, total sustainable investments increased 97% from 2019 to 2023 (2023: $43 billion), while sustainable revenues rose 74% (2023: $138 billion). Non-sustainable investments and revenues rose by only 26% and 34% respectively. 

While this is encouraging, $98 billion in annual sustainable investment is needed to achieve a net zero economy by 2050, or more than twice the current total.¹ The current growth rate will not deliver that level until 2030, indicating the need for an even greater focus on directing dollars to the right priorities.

Digital version of the ranking, methodological information and an extended version of this press release are available at: www.corporateknights.com/rankings/best-50-rankings/2025-best-50-rankings/

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1} Canada's Department of Finance has estimated a need of up to $140 billion in annual sustainable investments, with other analysis suggesting that private investment will need to represent 70% of that total.

SOURCE Corporate Knights

Toby Heaps, CEO, Corporate Knights, [email protected] 416.274.1432