Clean revenues growing twice as fast as regular revenues
TORONTO, June 25, 2020 /CNW/ - Corporate Knights Inc. today released the 19th annual Best 50 Corporate Citizens in Canada ranking. Selected from a pool of 273 Canadian companies, including all those with revenues over $1 billion – each evaluated on a set of up to 21 environmental, social and governance indicators, relative to their industry peers and using publicly available information – the Best 50 companies set the standard for sustainability leadership in Canada.
The top-ranked company in this year's Best 50 was Mountain Equipment Co-op. The outdoor good retailer earned the top spot due to a strong mix of environmentally friendly and fair-trade-certified products (representing 12% of its overall revenues). Mountain Equipment Co-op also had a leading CEO-to-average-worker pay ratio (15:1, about 20 times lower than its average peer) and strong executive gender diversity with women making up 50% of its senior management team.
This year, Corporate Knights completed additional analysis of revenue growth. It found that clean revenues tied to sustainable solutions, which reached $92 billion this year, were growing twice as fast as regular revenues. On a year-over-year basis, clean revenues shot up 14% versus 7% for revenues in general.
"The Best 50 Corporate Citizens have shown their mettle this year, providing needed relief for workers and communities during the pandemic and now stepping up to build back better post-COVID," said Toby Heaps, CEO of Corporate Knights.
On average, the Best 50 Corporate Citizens earned five times more clean revenue, were three times as likely to link executive pay to sustainability outcomes, had 50% more female executives and had a CEO-average-worker pay ratio half that of their large-company peers.
2020 Best 50
Avg. Large Company*
CEO-to-worker pay ratio
Women on board of directors %
Women among senior executives %
Exec. compensation link to sustainability % (y/n)
Clean revenue %
*All Canadian companies with more than $1 billion in FY2018 revenue excluding Best 50
This year's Best 50 Corporate Citizens will be recognized in Toronto at a virtual gala hosted by Corporate Knights. Federal Finance Minister Bill Morneau will welcome attendees with opening remarks, to be followed by a discussion on how we can build back better post-COVID, featuring some of Canada's leading CEOs.
About Corporate Knights: Corporate Knights Inc. includes the sustainable business magazine Corporate Knights and a research division that produces rankings and financial product ratings based on corporate sustainability performance. Corporate Knights was named Magazine of the Year at the National Magazine Awards in 2013 and won the SABEW Canada Silver Award for Investigative Reporting in 2019.
SOURCE Corporate Knights Inc.
For further information: Toby Heaps, CEO, Corporate Knights Phone: +1 (416) 274-1432, Email: [email protected]