A wind turbine silhouetted a red rising sun
Red sky in morning . . . : with temperature rises of about twice the global average, Europe is the fastest warming continent © AP

A hotter planet, scientists say, means harsher weather: storms, floods, droughts, fires. For Europe’s businesses and politicians, it also means tougher conditions, as new regulations designed to combat climate change start to bite.

Under the EU’s Green Deal — which aims to make Europe “the first climate-neutral continent” — companies must contend with more carbon pricing, tougher sustainability targets, and broader reporting requirements. This has prompted warnings about reduced competitiveness from industry groups, as well as outright protests — such this year’s demonstrations by farmers, which forced the European Commission to water down several green measures.

Yet the fourth edition of Europe’s Climate Leaders — compiled by the Financial Times in partnership with data provider Statista — shows that growing numbers of European companies are already making headway in cutting greenhouse gas (GHG) emissions. 

The list focuses primarily on businesses that have achieved the greatest reduction in their Scope 1 and 2 GHG emissions intensity over a five-year period (2017-22 for this edition). Scope 1 and 2 emissions — “core emissions” in the table — come respectively from a company’s own operations and from the energy it uses, while intensity is defined as tonnes of emissions of CO₂-equivalent per €1mn of revenue.

Other factors are considered, too, such as companies’ transparency on Scope 3 emissions, which arise elsewhere in their value chains, and their collaboration with sustainability assessors, such as CDP and the Science Based Targets initiative (SBTi). These factors are assigned a score, which is combined with the reduction in emissions intensity figure, to produce an overall total for each company. Further details of the methodology can be found in the panel at the end of this article and on Statista’s website.

Europe’s Climate Leaders 2024
CompanyCountrySectorScoreReduction of core emissions intensity (Scope 1 and 2) YoY 2017-22 [1]Core emissions intensity (GHGs in tonnes per €mn revenue) [2]Core emissions in tonnes (CO₂ equivalent) [2]Total reduction of core emissions [3]Scope 3 emissions reported? [4]CDP score [5]Participation in Science Based Targets initiative (SBTi) [6]
NatsUKAerospace & defence88.8 [e]65.9%0.111699.5%YesATargets set, 1.5°C
Tele2SwedenTelecommunications87.9 [a]59.8%0.82,07498.6%YesATargets set, 1.5°C
InditexSpainTextiles, apparel & luxury goods86.6 [a]55.3%0.311,23297.7%YesATargets set, 1.5°C
ERGItalyEnergy & utilities86.661.9%8.76,20099.5%YesATargets set, 1.5°C
Logitech InternationalSwitzerlandTechnology & electronics84.3 [a]47.7%0.31,26793.1%YesA-Targets set, 1.5°C
Telia CompanySwedenTelecommunications84.2 [c]50.6%1.19,00096.7%YesA-Targets set, 1.5°C
Deutsche TelekomGermanyTelecommunications83.9 [a]46.2%2233,06393.1%YesATargets set, 1.5°C
PumaGermanyTextiles, apparel & luxury goods81.4 [c]41.2%0.86,84985.6%YesATargets set, 1.5°C
CapgeminiFranceBusiness & professional services81.2 [c]40.6%0.918,88487.0%YesATargets set, 1.5°C
London Stock Exchange GroupUKFinancial services81.2 [e]37.2%0.75,61758.7%YesA-Targets set, 1.5°C
Lego GroupDenmarkPersonal & household goods81.2 [c]37.2%2.723,15481.9%YesA-Targets set, 1.5°C
AccentureIrelandBusiness & professional services81.1 [c]43.5%0.526,16090.2%YesATargets set, 1.5°C
Acciona EnergíaSpainEnergy & utilities81.039.9%2.310,07280.4%YesA-Targets set, 1.5°C
Rema 1000NorwayRetail & ecommerce80.9 [a]36.3%2.410,63390.2%YesATargets set, 1.5°C
UBSSwitzerlandFinancial services80.7 [c]38.9%0.412,44390.1%YesA-Targets set, 1.5°C
ComputacenterUKInternet, cloud & software80.6 [a]35.2%0.64,41680.5%YesA-Targets set, 1.5°C
Burberry GroupUKTextiles, apparel & luxury goods80.2 [a]40.8%0.51,66791.7%YesA-Targets set, 1.5°C
TietoevryFinlandInternet, cloud & software80 [a]33.5%13,01775.3%YesA-Targets set, 1.5°C
Cellnex TelecomSpainTelecommunications79.9 [a]33.1%14.751,54140.4%YesATargets set, 1.5°C
L’OréalFrancePersonal & household goods78.9 [c]29.6%0.725,10074.6%YesATargets set, 1.5°C
ASMNetherlandsTechnology & electronics78.9 [a]29.6%4.210,21543.5%YesA-Targets set, 1.5°C
AlstriaGermanyProperty78.7 [b]45.5%0.12695.5%YesA-Targets set, 1.5°C / well below 2°C
ABBSwitzerlandTechnology & electronics78.6 [a]28.5%8.2224,00078.2%YesATargets set, 1.5°C
Alfa LavalSwedenMachines & industrial equipment78.5 [a]28.3%4.9623,12972.1%YesA-Targets set, 1.5°C
ArmUKTechnology & electronics78.364.5%010999.2%YesB-
RS Group (formerly Electrocomponents)UKTechnology & electronics78.327.7%1.55,15765.4%YesA-Targets set, 1.5°C
KeringFranceTextiles, apparel & luxury goods78 [a]30.1%1.429,25878.0%YesATargets set, 1.5°C
Intermediate Capital GroupUKFinancial services78.029.9%0.212182.0%YesA-Targets set, 1.5°C
Derwent LondonUKProperty77.9 [c]29.7%7.22,03578.9%YesA-Targets set, 1.5°C
SageUKInternet, cloud & software77.926.3%1.53,22975.4%YesA-Targets set, 1.5°C
ElectroluxSwedenPersonal & household goods77.7 [c]25.8%6.983,00074.9%YesATargets set, 1.5°C
Indra SistemasSpainTechnology & electronics77.6 [a]28.5%0.82,89276.1%YesA-Targets set, 1.5°C
Schneider ElectricFranceTechnology & electronics77.525.00%6.7229,17767.20%YesATargets set, 1.5°C
NatWest GroupUKFinancial services77.3 [a]27.8%1.318,62580.4%YesATargets set, 1.5°C
Deloitte UKUKBusiness & professional services77.2 [c]27.3%0.32,10361.3%YesA-Targets set, 1.5°C
EDFFranceEnergy & utilities77 [c]26.7%168.924,226,14053.1%YesA-Targets set, well below 2°C
AG BarrUKFood, beverages & tobacco77 [b]23.3%12.74,54068.1%YesATargets set, 1.5°C
ØrstedDenmarkEnergy & utilities76.9 [a]23.0%141.42,511,00039.8%YesATargets set, 1.5°C
SThreeUKBusiness & professional services76.829.5%0.467574.3%YesBTargets set, 1.5°C
AstraZenecaUKPharmaceuticals76.6 [a]22.1%6.37263,60843.5%YesA-Targets set, 1.5°C
Sopra SteriaFranceBusiness & professional services76.622.1%0.73,70561.9%YesATargets set, 1.5°C
VattenfallSwedenEnergy & utilities76.6025.3%447.89,600,00058.8%YesATargets set, 1.5°C
NOSPortugalTelecommunications76.625.2%10.515,89977.2%YesA-Targets set, 1.5°C
Spendrups BryggeriSwedenFood, beverages & tobacco76.548.4%1.873795.1%YesNot availableTargets set, 1.5°C
StorebrandNorwayFinancial services76.525.0%03456.4%YesATargets set, 1.5°C
RWEGermanyEnergy & utilities76.424.6%2408.492,400,00032.4%YesA-Targets set, well below 2°C
SchrodersUKFinancial services76.424.5%0.51,50671.8%YesATargets set, 1.5°C
IberdrolaSpainEnergy & utilities76.224.0%243.713,148,42256.4%YesATargets set, 1.5°C
EDPPortugalEnergy & utilities76.220.7%476.99,848,00058.9%YesATargets set, 1.5°C
EntainUKTravel, leisure & entertainment76.247.3%2.914,26677.9%NoBCommitted
Radici GroupItalyChemicals & materials76.254.0%9.314,85097.2%YesNot availableCommitted
RightmoveUKProperty76.137.1%0.310186.5%YesNot availableTargets set, 1.5°C
NovozymesDenmarkFood, beverages & tobacco76.020.0%68.3161,00060.5%YesATargets set, 1.5°C
JCDecauxFranceMedia & advertising76.030.0%7.924,40083.1%YesACommitted
CurrysUKRetail & ecommerce76.026.6%1.920,85180.7%YesBTargets set, 1.5°C
Serco GroupUKBusiness & professional services76.036.5%7.638,76284.2%YesBCommitted
Dassault SystèmesFranceInternet, cloud & software75.829.3%1.47,80069.1%YesBTargets set, 1.5°C
PradaItalyTextiles, apparel & luxury goods75.718.9%8.836,92051.9%YesA-Targets set, 1.5°C
HermèsFranceTextiles, apparel & luxury goods75.618.8%2.731,30026.0%YesATargets set, 1.5°C
BATUKFood, beverages & tobacco75.618.6%13.5421,00051.3%YesA-Targets set, 1.5°C
Morgan Sindall GroupUKConstruction & building materials75.518.5%2.811,59753.4%YesATargets set, 1.5°C
IcadeFranceProperty75.518.4%3.86,88059.4%YesATargets set, 1.5°C
S GroupFinlandRetail & ecommerce75.531.6%5.546,20082.1%YesA-Targets set, 1.5°C
EnelItalyEnergy & utilities75.521.6%420.859,130,00044.2%YesA-Targets set, 1.5°C
SacyrSpainConstruction & building materials75.518.2%63.8373,54230.6%YesATargets set, 1.5°C
RichemontSwitzerlandTextiles, apparel & luxury goods75.331.0%119,40071.8%YesA-Targets set, 1.5°C
Mitie GroupUKBusiness & professional services75.321.0%522,43940.2%YesATargets set, 1.5°C
AvivaUKInsurance75.321.0%0.59,08981.5%YesA-Targets set, 1.5°C
WPPUKMedia & advertising75.224.2%1.525,20177.1%YesBTargets set, 1.5°C
NykreditDenmarkFinancial services75.243.8%0.249093.3%YesNot availableCommitted
ReckittUKPersonal & household goods75.117.1%8130,72350.6%YesA-Targets set, 1.5°C
AenaSpainAerospace & defence75.130.4%10.744,57882.8%YesA-Committed
Abn Amro BankNetherlandsFinancial services75.127.0%0.75,63082.5%YesBTargets set, 1.5°C
ZalandoGermanyRetail & ecommerce75.036.8%0.66,10076.7%YesBTargets set, 1.5°C
STMicroelectronicsSwitzerlandTechnology & electronics75.020.0%57.3862,00036.7%YesA-Targets set, 1.5°C
GEA GroupGermanyMachines & industrial equipment74.916.3%6.433,01854.0%YesATargets set, 1.5°C
BeiersdorfGermanyPersonal & household goods74.916.3%4.640,81148.7%YesATargets set, 1.5°C
HusqvarnaSwedenPersonal & household goods74.922.9%8.742,26462.6%YesBTargets set, 1.5°C
AccionaSpainConstruction & building materials74.9 [a]16.2%14.9167,17236.3%YesA-Targets set, 1.5°C
Big Yellow GroupUKBusiness & professional services74.916.2%11.12,35733.1%YesA-Targets set, 1.5°C
TelefónicaSpainTelecommunications74.819.5%8.8353,34673.9%YesATargets set, 1.5°C
Mediaset InfinityItalyMedia & advertising74.842.7%1.33,71995.1%NoNot availableTargets set, 1.5°C
Tetra PakSwedenTransport, logistics & packaging74.816.1%9.42117,73154.7%YesA-Targets set, 1.5°C
SiemensGermanyTechnology & electronics74.8016.0%8.1582,00063.7%YesATargets set, 1.5°C
NovartisSwitzerlandPharmaceuticals74.719.1%8.7369,80051.3%YesATargets set, well below 2°C
KlépierreFranceProperty74.628.7%11.814,18483.3%YesATargets set, 1.5°C
Sparebanken VestNorwayFinancial services74.528.5%01270.5%YesA-Committed
Trane TechnologiesIrelandMachines & industrial equipment74.414.8%19.7293,34749.3%YesATargets set, 1.5°C
PuigSpainTextiles, apparel & luxury goods74.414.7%0.71,79639.0%YesATargets set, 1.5°C
SAPGermanyInternet, cloud & software74.320.9%3.5109,06059.2%YesBTargets set, 1.5°C
VodafoneUKTelecommunications74.217.5%21.2970,00062.4%YesATargets set, 1.5°C
NexansFranceTechnology & electronics74.214.0%26.8224,27438.2%YesATargets set, 1.5°C
BarcoBelgiumTechnology & electronics74.220.5%3.13,23769.0%YesBTargets set, 1.5°C
KingfisherUKRetail & ecommerce74.113.8%9.1134,41046.6%YesA-Targets set, 1.5°C
CityconFinlandProperty74.133.7%16.95,10788.6%YesBTargets set, 1.5°C
Tokmanni GroupFinlandRetail & ecommerce74.123.7%3.54,11162.1%YesBTargets set, 1.5°C
ArcadisNetherlandsBusiness & professional services74.123.5%2.710,87067.2%YesBTargets set, 1.5°C
ColonialSpainProperty74.026.8%12.94,66373.1%YesATargets set, 1.5°C
CorbionNetherlandsFood, beverages & tobacco74.013.4%97.4142,00020.2%YesA-Targets set, 1.5°C
ColoplastDenmarkHealthcare & medical technology74.019.9%6.720,30052.0%YesBTargets set, 1.5°C
GSKUKPharmaceuticals73.913.1%21.6714,00051.8%YesA-Targets set, 1.5°C
NokiaFinlandTelecommunications73.916.4%10.4259,30056.1%YesA-Targets set, 1.5°C
Novo NordiskDenmarkHealthcare & medical technology73.919.6%3.992,00046.7%YesBTargets set, 1.5°C
SanofiFrancePharmaceuticals73.812.8%12.5536,80438.3%YesA-Targets set, 1.5°C
BloomsburyUKMedia & advertising73.832.8%0.39677.5%YesBTargets set, 1.5°C
Speedy HireUKBusiness & professional services73.812.7%26.112,99440.2%YesA-Targets set, 1.5°C
Alma MediaFinlandMedia & advertising73.819.3%1.444571.2%YesBTargets set, 1.5°C
Crest NicholsonUKConstruction & building materials73.712.3%3.23,30454.6%YesA-Targets set, 1.5°C
SaabSwedenAerospace & defence73.712.3%5.821,86631.1%YesATargets set, 1.5°C
SpectrisUKTechnology & electronics73.712.2%15.222,70054.7%YesA-Targets set, 1.5°C
Johnson ControlsIrelandTechnology & electronics73.712.2%26.4623,43942.2%YesATargets set, 1.5°C
PirelliItalyAutomobiles & components73.712.2%82.9548,13235.4%YesATargets set, 1.5°C
ElisaFinlandTelecommunications73.612.1%1.43,00537.5%YesATargets set, 1.5°C
John Sisk & SonIrelandConstruction & building materials73.615.3%6.19,76725.3%YesA-Targets set, 1.5°C
Vestas Wind SystemsDenmarkEnergy & utilities73.612.0%6.9100,00023.1%YesA-Targets set, 1.5°C
Croda InternationalUKChemicals & materials73.615.3%51.4121,09333.7%YesA-Targets set, 1.5°C
LanxessGermanyChemicals & materials73.525.0%167.51,354,50073.3%YesA-Targets set, 1.5°C
MetsoFinlandMachines & industrial equipment73.528.3%9.248,94462.8%YesA-Targets set, 1.5°C
Metsä BoardFinlandChemicals & materials73.411.4%154.5383,09826.9%YesATargets set, 1.5°C
Ernst & YoungUKBusiness & professional services73.421.4%0.93,93453.4%YesBTargets set, 1.5°C
AteaNorwayInternet, cloud & software73.414.7%1.95,84254.9%YesATargets set, well below 2°C
BTUKTelecommunications73.411.3%7.7180,28552.2%YesATargets set, 1.5°C
InwidoSwedenConstruction & building materials73.424.5%5.54,70163.3%YesBTargets set, 1.5°C
Magyar TelekomHungaryTelecommunications73.311.1%9.113,45930.0%YesA-Targets set, 1.5°C
Telekom AustriaAustriaTelecommunications73.311.0%27.8139,28936.2%YesATargets set, 1.5°C
Coca-Cola HBCSwitzerlandFood, beverages & tobacco73.311.0%48.2443,41621.2%YesATargets set, 1.5°C
BankinterSpainFinancial services73.334.3%0.71,53886.9%YesB-
Plastic OmniumFranceAutomobiles & components73.311.0%41.8357,00029.4%YesATargets set, 1.5°C
PricewaterhouseCoopers (PwC)UKBusiness & professional services73.314.2%1.261,16039.3%YesA-Targets set, 1.5°C
Pets at HomeUKRetail & ecommerce73.317.5%7.411,70940.3%YesBTargets set, 1.5°C
CarlsbergDenmarkFood, beverages & tobacco73.210.8%34.2323,00053.7%YesA-Targets set, 1.5°C
WhitbreadUKTravel, leisure & entertainment73.217.3%24.171,41249.6%YesBTargets set, 1.5°C
EonGermanyEnergy & utilities73.220.7%75.38,710,0002.6%YesATargets set, 1.5°C
PhilipsNetherlandsTechnology & electronics73.223.9%1.425,00074.5%YesACommitted
TesaGermanyChemicals & materials73.210.6%30.550,86024.1%YesATargets set, 1.5°C
Gruppo HeraItalyEnergy & utilities73.230.6%46.6936,59042.2%YesA-Targets set, well below 2°C
BMWGermanyAutomobiles & components73.113.8%5.5785,35730.9%YesA-Targets set, 1.5°C / well below 2°C
PlaytechUKTravel, leisure & entertainment73.126.9%1.82,86858.7%YesBCommitted
Berkeley GroupUKProperty73.110.2%1.85,22347.5%YesATargets set, 1.5°C
AtresmediaSpainMedia & advertising73.010.1%3.23,00146.8%YesA-Targets set, 1.5°C
ZF GroupGermanyAutomobiles & components73.010.0%26.61,167,00029.1%YesA-Targets set, 1.5°C
GreinerAustriaTransport, logistics & packaging73.023.3%39.391,58560.8%YesA-Targets set, 1.5°C
IrceItalyTechnology & electronics73.063.3%76.735,25099.1%NoNot available-
Clas OhlsonSwedenRetail & ecommerce73.023.3%1.297370.8%YesBCommitted
Auto Trader GroupUKInternet, cloud & software73.019.8%0.636649.9%YesBTargets set, 1.5°C
Nationwide Building SocietyUKFinancial services72.936.5%0.42,36184.6%YesB-
HenkelGermanyPersonal & household goods72.913.1%17.8398,00044.6%YesA-Targets set, 1.5°C
UPM-KymmeneFinlandChemicals & materials72.99.7%381.44,470,00029.8%YesATargets set, 1.5°C
Rathbone BrothersUKFinancial services72.916.3%1.578233.7%YesBTargets set, 1.5°C
StockmannFinlandRetail & ecommerce72.922.9%12.712,42974.7%YesB-Committed
Red EléctricaSpainEnergy & utilities72.99.6%371.1747,75637.3%YesATargets set, 1.5°C
SKFSwedenMachines & industrial equipment72.816.1%36312,16648.3%YesATargets set, 1.5°C
Man GroupUKFinancial services72.832.8%11,64377.7%YesB-
BBVASpainFinancial services72.829.4%1.952,96681.4%YesBCommitted
NestléSwitzerlandFood, beverages & tobacco72.89.3%424,000,00035.5%YesA-Targets set, 1.5°C
Wihlborgs FastigheterSwedenProperty72.712.4%10.13,00526.7%YesA-Targets set, 1.5°C
Royal BAM GroupNetherlandsConstruction & building materials72.79.0%1386,07736.9%YesATargets set, 1.5°C
Stora EnsoFinlandMachines & industrial equipment72.712.3%167.81,960,00039.5%YesA-Targets set, 1.5°C
Caixa Geral de DepósitosPortugalFinancial services72.722.2%7.712,35759.0%YesA-Committed
SkanskaSwedenConstruction & building materials72.712.2%12.59182,00047.5%YesATargets set, 1.5°C
Estée LauderFrancePersonal & household goods72.622.0%2.130,80066.5%YesATargets set, 1.5°C
AfrySwedenBusiness & professional services72.6022.0%1.94,05046.4%YesBTargets set, 1.5°C
Nürnberger VersicherungGermanyInsurance72.551.8%011897.4%YesNot available-
RenishawUKMachines & industrial equipment72.521.7%10.37,80063.3%YesBCommitted
FiskarsFinlandPersonal & household goods72.411.3%40.250,24442.2%YesA-Targets set, 1.5°C
ICASwedenRetail & ecommerce72.431.2%1.316,27580.9%YesNot availableTargets set, well below 2°C
ProximusBelgiumTelecommunications72.47.9%5.431,50032.3%YesATargets set, 1.5°C
Publicis GroupeFranceMedia & advertising72.317.8%3.138,36651.3%YesBTargets set, 1.5°C
RetalCyprusTransport, logistics & packaging72.37.8%97.564,46528.2%YesA-Targets set, 1.5°C
InformaUKMedia & advertising72.314.3%2.56,41040.6%YesBTargets set, 1.5°C
Willmott DixonUKConstruction & building materials72.324.2%1.11,44777.4%YesNot availableTargets set, 1.5°C
Unibail-Rodamco-WestfieldFranceProperty72.210.7%20.746,24430.5%YesATargets set, 1.5°C
AbancaSpainFinancial services72.240.7%1.288888.5%YesNot available-
Ibercaja bancoSpainFinancial services72.240.7%1.21,28193.4%YesNot available-
EnecoNetherlandsEnergy & utilities72.223.9%105.11,381,318-1.4%YesA-Targets set, 1.5°C
DürrGermanyMachines & industrial equipment72.213.9%6.427,76244.9%YesBTargets set, 1.5°C
DanoneFranceFood, beverages & tobacco72.110.5%34.1942,00035.5%YesATargets set, 1.5°C
KronesGermanyMachines & industrial equipment72.110.4%6.513,43459.6%YesA-Targets set, 1.5°C
EpirocSwedenMachines & industrial equipment72.113.7%5.825,73524.3%YesA-Targets set, 1.5°C
Taylor WimpeyUKConstruction & building materials72.17.1%3.718,30622.7%YesA-Targets set, 1.5°C
Liberty GlobalUKMedia & advertising72.130.3%3.825,62889.5%YesBTargets set, 1.5°C
AurubisGermanyChemicals & materials72.113.6%71.21,318,72819.3%YesA-Targets set, 1.5°C
Barratt DevelopmentsUKConstruction & building materials72.16.9%4.124,90923.7%YesA-Targets set, 1.5°C
PorscheGermanyAutomobiles & components72.133.6%0.313,15979.3%YesNot availableCommitted
MichelinFranceAutomobiles & components72.110.2%80.82,310,00024.0%YesA-Targets set, well below 2°C
LogistaSpainTransport, logistics & packaging72.030.0%4.147,01079.8%YesA-Targets set, 2°C
WorkspaceUKProperty72.010.0%499,62520.2%YesA-Targets set, 1.5°C
SuperdryUKTextiles, apparel & luxury goods72.06.6%6.84,75249.4%YesA-Targets set, 1.5°C
EcoleanSwedenTransport, logistics & packaging72.036.6%3.129488.3%YesNot availableTargets set, 1.5°C
SignifyNetherlandsTechnology & electronics71.99.8%20.6155,00035.7%YesATargets set, 1.5°C
Groupe RenaultFranceAutomobiles & components71.99.8%13.1606,27252.8%YesA-Targets set, well below 2°C / 2°C
FirstGroupUKTransport, logistics & packaging71.916.4%153.1821,28969.7%YesBTargets set, 1.5°C
DSMNetherlandsChemicals & materials71.96.4%125.11,050,00030.0%YesA-Targets set, 1.5°C
Nokian TyresFinlandAutomobiles & components71.99.6%45.280,27031.7%YesA-Targets set, well below 2°C
SodexoFranceBusiness & professional services71.96.2%5101,38429.0%YesATargets set, 1.5°C
DMG MoriGermanyMachines & industrial equipment71.96.2%11.928,11726.8%YesA-Targets set, 1.5°C
ExperianIrelandBusiness & professional services71.926.2%1.610,10068.3%YesA-Targets set, 1.5°C
BAE SystemsUKAerospace & defence71.922.8%15.7377,46366.2%YesBCommitted
Georg FischerSwitzerlandMachines & industrial equipment71.819.2%58.5236,00066.9%YesATargets set, 1.5°C
KeskoFinlandRetail & ecommerce71.712.5%6.475,50542.2%YesBTargets set, 1.5°C
PearsonUKMedia & advertising71.712.4%7.833,65656.1%YesBTargets set, 1.5°C
LenzingAustriaChemicals & materials71.79.0%4951,270,00029.1%YesATargets set, 2°C
Knorr BremseGermanyTransport, logistics & packaging71.722.3%750,00067.1%YesA-Targets set, 1.5°C
ItalgasItalyEnergy & utilities71.732.2%66.6154,03070.6%YesA-
OutokumpuFinlandChemicals & materials71.615.4%148.71,411,60635.3%YesBTargets set, 1.5°C
HeinekenNetherlandsFood, beverages & tobacco71.612.1%42.31,467,04915.7%YesATargets set, 1.5°C
ASRNetherlandsInsurance71.632.0%0.178367.2%YesB-
Merlin PropertiesSpainProperty71.68.6%39.217,21039.5%YesA-Targets set, 1.5°C
AIB GroupIrelandFinancial services71.68.6%1.13,23038.0%YesA-Targets set, 1.5°C
FerrovialSpainTransport, logistics & packaging71.621.9%54.9414,38657.4%YesATargets set, 2°C
EuroprisNorwayRetail & ecommerce71.615.2%13.711,60626.6%YesA-Committed
JD Sports FashionUKTextiles, apparel & luxury goods71.518.4%4.652,948-15.6%YesA-Targets set, 1.5°C
EssentraUKChemicals & materials71.511.6%42.516,19082.3%YesA-Committed
AP Møller-MærskDenmarkTransport, logistics & packaging71.518.3%453.734,506,0004.1%YesACommitted
Murphy GroupUKConstruction & building materials71.421.3%1118,50536.7%YesBCommitted
CarrefourFranceRetail & ecommerce71.411.3%18.21,483,00144.8%YesA-Targets set, well below 2°C
SoftcatUKInternet, cloud & software71.411.2%0.449328.4%YesBTargets set, 1.5°C
Redes Energéticas Nacionais (REN)PortugalEnergy & utilities71.311.1%201.1165,49438.9%YesA-Committed
Tate & LyleUKFood, beverages & tobacco71.321.1%264.8523,28380.2%YesA-Targets set, well below 2°C
LegrandFranceTechnology & electronics71.311.0%18149,99415.8%YesA-Targets set, 1.5°C
Hugo BossGermanyTextiles, apparel & luxury goods71.210.8%8.229,87824.6%YesBTargets set, 1.5°C
BouyguesFranceConstruction & building materials71.210.7%42.91,900,00023.7%YesBTargets set, 1.5°C
Imperial BrandsUKFood, beverages & tobacco68.210.7%4.8175,76639.0%YesATargets set, 1.5°C
LandsecUKProperty71.27.3%10.89,63534.7%YesA-Targets set, 1.5°C
Bank of IrelandIrelandFinancial services71.127.2%13,69483.9%YesBTargets set, 1.5°C
Maisons du MondeFranceRetail & ecommerce71.123.7%3.54,50968.1%YesATargets set, 1.5°C
Bakkavor GroupUKFood, beverages & tobacco71.120.2%26.965,04861.8%YesBCommitted
ValeoFranceAutomobiles & components71.06.8%35.3708,00023.9%YesA-Targets set, 1.5°C
KonecranesFinlandMachines & industrial equipment71.016.7%12.843,00057.1%YesA-Targets set, 1.5°C
Deutsche BahnGermanyTransport, logistics & packaging71.013.4%103.45,820,00035.6%YesA-Targets set, 2°C
WorldlineFranceFinancial services71.016.6%2.19,109-10.5%YesA-Targets set, 1.5°C
Piraeus Financial HoldingsGreeceFinancial services70.926.5%0.82,08374.3%YesBTargets set, 1.5°C
AlmirallSpainPharmaceuticals70.99.8%13.911,99119.2%YesA-Targets set, 1.5°C
Saint-GobainFranceConstruction & building materials70.99.7%191.49,800,00024.6%YesA-Targets set, 1.5°C
NextUKRetail & ecommerce70.922.9%8.648,80364.6%YesBTargets set, 1.5°C
CapitaUKBusiness & professional services70.99.5%9.833,18656.8%YesATargets set, 1.5°C
SkyUKMedia & advertising70.916.2%232,33755.7%YesNot availableTargets set, 1.5°C
AmadeusSpainInternet, cloud & software70.819.4%2.913,15267.2%YesBCommitted
Holcim GroupSwitzerlandConstruction & building materials70.89.3%2818.283,000,00033.6%YesA-Targets set, 1.5°C
TarkettFranceConstruction & building materials70.815.9%43.7146,92148.4%YesA-Targets set, 1.5°C
Atrium LjungbergSwedenProperty70.718.9%11.23,12957.1%YesBCommitted
KPMG InternationalUKBusiness & professional services70.615.5%3.4117,00043.4%YesBTargets set, 1.5°C
CovivioFranceProperty70.615.4%5.25,06357.9%YesATargets set, 1.5°C
VerbundAustriaEnergy & utilities70.632.0%83.4863,00048.3%YesA--
SGSSwitzerlandBusiness & professional services70.65.3%17.4116,50420.2%YesA-Targets set, 1.5°C
MondiUKMachines & industrial equipment70.58.5%442.63,940,00019.4%YesA-Targets set, 1.5°C
Anheuser-Busch InBevBelgiumFood, beverages & tobacco70.55.1%90.44,873,09421.2%YesATargets set, 1.5°C
Galliford TryUKConstruction & building materials70.58.4%7.511,82169.4%YesBTargets set, 1.5°C
Zurich Insurance GroupSwitzerlandInsurance70.511.7%0.521,22764.9%YesA-Committed
Grosvenor Property UKUKProperty70.515.0%29.54,81037.2%YesNot availableTargets set, 1.5°C
Titan Cement GroupBelgiumConstruction & building materials70.511.6%4795.210,943,58918.1%YesATargets set, 1.5°C
OTE GroupGreeceTelecommunications70.434.7%6.723,21089.2%YesB-
Rémy CointreauFranceFood, beverages & tobacco70.48.0%5.38,2609.6%YesA-Targets set, 1.5°C
Kingspan GroupIrelandConstruction & building materials70.414.6%46.2385,156-3.1%YesATargets set, 1.5°C
Constantia FlexiblesAustriaTransport, logistics & packaging70.411.2%103.3201,87027.3%YesATargets set, 2°C
Mercedes-BenzGermanyAutomobiles & components70.324.5%4.4663,00077.6%YesBTargets set, 1.5°C / well below 2°C
Johnson MattheyUKChemicals & materials70.310.9%21.6363,68618.3%YesA-Targets set, well below 2°C
RexelFranceRetail & ecommerce70.37.5%5.399,1654.9%YesA-Targets set, 1.5°C
Coats GroupUKTextiles, apparel & luxury goods70.27.5%166.3245,74520.9%YesBTargets set, 1.5°C
FLSmidthDenmarkMachines & industrial equipment70.214.1%12.436,50843.2%YesBTargets set, 1.5°C
MapfreSpainInsurance70.217.3%0.411,77059.1%YesA--
VeoliaFranceEnergy & utilities70.210.6%783.533,600,0001.2%YesA-Targets set, well below 2°C
VallourecFranceMachines & industrial equipment70.127.2%190.7931,29773.3%YesBTargets set, well below 2°C
ITP AeroSpainAerospace & defence70.113.8%9.19,52436.7%YesNot availableTargets set, 1.5°C
Crédit AgricoleFranceFinancial services70.113.6%2.253,43638.4%YesA-Committed
PersimmonUKConstruction & building materials70.06.8%5.8125,01725.4%YesA-Targets set, 1.5°C
Close Brothers GroupUKFinancial services70.020.0%2.52,67959.7%YesB-
SymriseGermanyFood, beverages & tobacco69.99.8%63.7294,3918.1%YesATargets set, 1.5°C
Heidelberg MaterialsGermanyConstruction & building materials69.906.5%3356.870,811,13212.6%YesATargets set, 1.5°C
Mundys (formerly Atlantia)ItalyTransport, logistics & packaging69.96.3%24.6182,50815.8%YesA-Targets set, 1.5°C
3i GroupUKFinancial services69.929.5%018238.2%YesBCommitted
Wacker ChemieGermanyChemicals & materials69.912.8%320.12,628,00016.1%YesATargets set, 1.5°C
VinciFranceConstruction & building materials69.89.5%34.82,147,3926.7%YesA-Targets set, well below 2°C
CementirItalyConstruction & building materials69.89.4%4338.17,711,1907.4%YesA-Targets set, well below 2°C
ITVUKMedia & advertising69.819.4%1.35,61259.5%YesBTargets set, 1.5°C
SeverfieldUKConstruction & building materials69.812.6%17.19,4978.6%YesACommitted
WHSmithUKRetail & ecommerce69.75.8%12.820,23415.9%YesATargets set, 1.5°C
ASMLNetherlandsTechnology & electronics69.719.1%1.838,10018.2%YesA-Targets set, 1.5°C
C&C GroupIrelandFood, beverages & tobacco69.722.4%1122,57728.6%YesBTargets set, well below 2°C
Schaeffler GruppeGermanyMachines & industrial equipment69.715.6%30.9488,00051.6%YesATargets set, 1.5°C
Ontex GroupBelgiumPersonal & household goods69.712.2%15.425,77662.6%YesA-Targets set, 1.5°C
Travis PerkinsUKRetail & ecommerce69.618.7%9.151,56172.4%YesBTargets set, 1.5°C
Posti GroupFinlandTransport, logistics & packaging69.615.2%25.742,49956.1%YesNot availableTargets set, 1.5°C
Brunello CucinelliItalyTextiles, apparel & luxury goods69.611.9%54,5943.2%YesA-Targets set, 1.5°C
Pernod RicardFranceFood, beverages & tobacco69.48.1%21.7263,22311.7%YesA-Targets set, well below 2°C
TI Fluid SystemsUKAutomobiles & components69.417.9%79.4259,56765.1%YesBTargets set, 1.5°C
FrankeSwitzerlandConstruction & building materials69.317.8%11.328,98554.0%YesNot availableCommitted
Erste Group BankAustriaFinancial services69.317.7%6.639,39348.5%YesB-
WebuildItalyConstruction & building materials69.314.3%49.5378,94933.2%YesA-Targets set, 1.5°C
Kerry GroupIrelandFood, beverages & tobacco69.317.7%55.4486,14648.2%YesBTargets set, 1.5°C
MaireItalyMachines & industrial equipment69.337.6%4.917,08490.7%YesB-
Evonik IndustriesGermanyChemicals & materials69.314.2%319.35,904,00040.3%YesA-Targets set, well below 2°C
Oriflame CosmeticsSwedenPersonal & household goods69.320.8%4.94,53278.9%YesBTargets set, 1.5°C
SegroUKProperty69.217.5%5.33,99123.4%YesA-Targets set, 1.5°C
WatesUKConstruction & building materials69.217.4%2.85,62355.1%YesNot availableTargets set, 1.5°C
SeniorUKMachines & industrial equipment69.24.0%46.944,87832.3%YesATargets set, 1.5°C
SwisscomSwitzerlandTelecommunications69.24.0%5.258,74422.2%YesACommitted
DNVNorwayBusiness & professional services69.120.5%4.410,40059.1%YesNot availableCommitted
ValmetFinlandTechnology & electronics69.113.7%1786,20020.4%YesATargets set, 1.5°C
Unite StudentsUKProperty69.127.0%44.312,95754.8%YesNot availableTargets set, 1.5°C
CofinimmoBelgiumProperty69.120.3%15.14,86351.9%YesBTargets set, 1.5°C
EssitySwedenPersonal & household goods69.010.2%207.12,894,00016.4%YesA-Targets set, well below 2°C
ApplusSpainBusiness & professional services69.06.8%27.155,5899.0%YesATargets set, 1.5°C
Volkswagen GroupGermanyAutomobiles & components69.010.1%23.56,570,00028.6%YesA-Targets set, 1.5°C
Arion BankIcelandFinancial services69.020.1%0.28153.0%YesNot availableCommitted
La Française des JeuxFranceTravel, leisure & entertainment69.026.7%0.61,57370.4%YesBTargets set, well below 2°C
IMIUKMachines & industrial equipment69.010.0%17.540,48030.8%YesBCommitted
KBC GroupBelgiumFinancial services69.019.9%325,07863.8%YesACommitted
RelxUKMedia & advertising69.016.6%1.514,16352.9%YesB-
EricssonSwedenTelecommunications69.09.9%7.4180,03821.4%YesA-Targets set, 1.5°C
PrysmianItalyTechnology & electronics69.09.8%41.4665,104-21.1%YesA-Targets set, 1.5°C
SIGUKTransport, logistics & packaging68.99.8%14.544,98343.1%YesBTargets set, 1.5°C
CostainUKConstruction & building materials68.913.1%4.77,56059.3%YesBCommitted
El corte inglesSpainRetail & ecommerce68.919.8%9127,21570.0%YesB-
TelenorNorwayTelecommunications68.93.0%90.8855,00024.3%YesBTargets set, 1.5°C
Córas Iompair ÉireannIrelandTransport, logistics & packaging68.99.7%191.8286,21627.5%YesBCommitted
IconIrelandPharmaceuticals68.926.3%2.215,78429.9%YesBCommitted
Millennium bcpPortugalFinancial services68.929.6%4.312,38877.4%YesBCommitted
Capital & Counties PropertiesUKProperty68.812.8%7.159357.4%YesA-Targets set, 1.5°C
KutxabankSpainFinancial services68.842.8%0.558194.2%YesNot available-
ScaniaSwedenAutomobiles & components68.812.6%6.497,40029.5%YesNot availableTargets set, 1.5°C
Aktia BankFinlandFinancial services68.618.7%1.742557.1%YesB--
LVMHFranceTextiles, apparel & luxury goods68.68.6%4.2329,417-18.4%YesATargets set, 1.5°C
Posten NorgeNorwayTransport, logistics & packaging68.611.9%23.853,06349.6%YesNot availableTargets set, 1.5°C
Fenix OutdoorSwedenTextiles, apparel & luxury goods68.618.5%3.22,43149.5%YesB-
Aigües de BarcelonaSpainEnergy & utilities68.518.4%23.39,30665.7%YesNot availableCommitted
MercialysFranceProperty68.518.4%172,07867.9%YesATargets set, well below 2°C
International Airlines GroupUKAerospace & defence68.58.4%917.721,167,00026.7%YesA-Committed
ReachUKMedia & advertising68.531.7%5.23,54985.7%YesB-
MonetaCzech RepublicFinancial services68.528.4%5.32,64277.9%YesB-
GeoxItalyTextiles, apparel & luxury goods68.535.0%0.861786.4%YesNot available-
JungheinrichGermanyMachines & industrial equipment68.58.3%12.459,00010.0%YesBTargets set, 1.5°C
EndesaSpainEnergy & utilities68.424.8%42513,981,29860.6%YesA--
Assa AbloySwedenConstruction & building materials68.414.7%22.2240,40628.2%NoBTargets set, 1.5°C
CMA CGMFranceTransport, logistics & packaging68.421.2%375.726,108,978-7.4%YesA--
Enexis GroepNetherlandsEnergy & utilities68.337.7%37.664,09688.6%YesNot available-
De La RueUKFinancial services68.37.6%29.411,59152.3%YesA-Targets set, 1.5°C
Surteco GroupGermanyPersonal & household goods68.327.6%3324,66178.4%NoNot availableCommitted
Go-AheadUKTransport, logistics & packaging68.27.4%163.8607,68435.8%YesBTargets set, 1.5°C
BCCSpainFinancial services68.210.6%0.663337.3%YesA-
Ferrovie dello Stato ItalianoItalyTransport, logistics & packaging68.210.6%147.22,010,66615.9%YesA-Committed
MarshallsUKConstruction & building materials68.213.9%52.842,89620.8%NoBTargets set, 1.5°C
AllianzGermanyInsurance68.227.2%0.761,44375.2%YesNot available-
CeconomyGermanyRetail & ecommerce68.123.8%3.269,80074.2%YesBCommitted
Millicom International CellularLuxembourgTelecommunications68.17.2%32.6171,1841.4%YesBTargets set, 1.5°C
AxaFranceInsurance68.113.8%0.662,65050.5%YesBCommitted
HochtiefGermanyConstruction & building materials68.133.6%14.9389,58685.1%YesB-
JupiterUKFinancial services68.013.4%0.17253.0%YesA--
Société GénéraleFranceFinancial services68.016.7%3.6100,52053.0%YesB-
SpieFranceBusiness & professional services68.06.7%17.6142,6146.2%YesBTargets set, 1.5°C
Mettler-ToledoSwitzerlandTechnology & electronics68.06.6%17.664,322-2.1%YesA-Targets set, 1.5°C
ElementisUKChemicals & materials68.019.9%97.667,06769.0%YesBCommitted
Origin EnterprisesIrelandFood, beverages & tobacco68.09.9%8.820,6508.8%YesBTargets set, 1.5°C
H&M GroupSwedenTextiles, apparel & luxury goods67.93.1%360,7024.7%YesA-Targets set, 1.5°C
ESBIrelandEnergy & utilities67.919.7%1009.47,667,52321.6%YesA--
BayWaGermanyEnergy & utilities67.916.4%4.3116,43531.1%YesA-Committed
ThalesFranceAerospace & defence67.99.7%8.4148,00033.2%YesATargets set, 1.5°C
Zumtobel GroupAustriaTechnology & electronics67.912.9%8.710,53649.4%YesNot availableCommitted
An PostIrelandTransport, logistics & packaging67.96.2%27.924,82023.1%YesBTargets set, 1.5°C
SchibstedNorwayMedia & advertising67.819.5%0.462869.5%YesA--
AperamLuxembourgConstruction & building materials67.812.7%125.651,024,8177.7%YesA-Committed
HKScanFinlandFood, beverages & tobacco67.822.7%19.335,34871.9%YesNot availableTargets set, 1.5°C
GetlinkFranceTransport, logistics & packaging67.8016.0%40.264,58634.9%YesBTargets set, 1.5°C
InvestorSwedenFinancial services67.815.9%06936.7%YesB-
DNBNorwayFinancial services67.822.5%0.130563.2%YesA--
FastwebItalyTelecommunications67.719.2%0.82,09057.2%YesNot availableTargets set, 1.5°C
ReweGermanyRetail & ecommerce67.719.1%12929,35745.8%YesNot availableCommitted
PostNLNetherlandsTransport, logistics & packaging67.75.6%8.326,00013.3%YesA-Targets set, 1.5°C
UniCreditItalyFinancial services67.615.5%466,10052.3%YesB-
WiloGermanyMachines & industrial equipment67.612.0%5.82910,99130.2%YesNot availableCommitted
ArcelorMittalLuxembourgConstruction & building materials67.612.0%1599.1119,100,00038.6%YesA-Committed
Bank MillenniumPolandFinancial services67.60028.5%12.19,93570.3%YesB-
Banca GeneraliItalyFinancial services67.521.8%055161.4%YesA--
BorregaardNorwayChemicals & materials67.55.1%327.1214,279-14.8%YesATargets set, 1.5°C
AccorFranceTravel, leisure & entertainment67.55.0%691.52,921,000-17.5%YesATargets set, 1.5°C
Grupo ACSSpainConstruction & building materials67.528.3%15.2510,79781.8%YesB-
AmplifonItalyHealthcare & medical technology67.518.3%6.112,92039.2%YesBCommitted
BertelsmannGermanyMedia & advertising67.515.0%12.9261,80047.6%YesBTargets set, 1.5°C
AbrdnUKFinancial services67.431.5%1.62,84884.4%YesB-
UCBBelgiumPharmaceuticals67.44.8%5.530,4474.8%YesA-Targets set, well below 2°C
AgranaAustriaFood, beverages & tobacco67.411.5%194.9708,97822.8%YesBTargets set, 1.5°C
Jaguar Land RoverUKAutomobiles & components67.44.7%5.9151,64330.6%YesBTargets set, 1.5°C / well below 2°C
EdenredFranceInternet, cloud & software67.411.2%4.28,49816.4%YesBCommitted
ThyssenkruppGermanyMachines & industrial equipment67.34.5%546.922,500,0003.8%YesATargets set, well below 2°C
BremboItalyAutomobiles & components67.317.7%79.6288,84844.4%YesA--
RandstadNetherlandsBusiness & professional services67.37.7%2.261,50020.5%YesBCommitted
Naturgy Energy GroupSpainEnergy & utilities67.314.3%43414,741,48332.5%YesA-Committed
Marks and SpencerUKRetail & ecommerce67.34.3%27363,00010.4%YesBTargets set, 1.5°C
TeleperformanceFranceBusiness & professional services67.314.3%17.4141,8669.6%YesBTargets set, well below 2°C
Poste ItalianeItalyTransport, logistics & packaging67.27.4%13.1155,56323.6%YesA--
CIE AutomotiveSpainAutomobiles & components67.210.7%105425,31622.6%YesBCommitted
Kion GroupGermanyMachines & industrial equipment67.210.6%16.5183,28616.5%YesA-Committed
OrklaNorwayFood, beverages & tobacco67.23.9%32.3177,954-20.9%YesA-Targets set, 1.5°C
BBCUKMedia & advertising67.110.4%7.749,58234.5%NoBTargets set, 1.5°C
TrygDenmarkInsurance67.130.4%0.41,65369.0%YesB-
Heathrow AirportUKTransport, logistics & packaging67.17.0%9.129,80629.7%YesNot availableTargets set, 1.5°C
ApoteketSwedenRetail & ecommerce67.16.9%1.42,66025.2%YesNot availableTargets set, 1.5°C
BunzlUKRetail & ecommerce67.16.9%8.9120,7421.9%YesBTargets set, well below 2°C
OrangeFranceTelecommunications67.03.5%27.31,188,32710.8%YesA-Targets set, 1.5°C
BritvicUKFood, beverages & tobacco67.010.1%19.936,40833.6%YesBTargets set, 1.5°C
RotorkUKMachines & industrial equipment67.010.0%107,25441.1%YesBTargets set, 1.5°C
GecinaFranceProperty67.010.0%17.510,94034.0%YesATargets set, 1.5°C
La Poste GroupeFranceTransport, logistics & packaging67.03.2%13.6482,268-24.7%YesA-Targets set, 1.5°C
Akzo NobelNetherlandsChemicals & materials66.99.8%19.1207,60032.5%YesNot availableTargets set, 1.5°C
Smiths GroupUKMachines & industrial equipment66.93.0%17.951,78433.0%YesBCommitted
L&TFinlandBusiness & professional services66.99.7%37.531,65828.4%YesA-Targets set, well below 2°C
Sekab BioFuels & ChemicalsSwedenChemicals & materials66.99.6%434,21410.0%YesNot availableTargets set, 1.5°C
LPKF Laser & ElectronicsGermanyTechnology & electronics66.936.3%1.720787.3%YesNot available-
DFS FurnitureUKRetail & ecommerce66.916.2%12.515,40148.4%YesBCommitted
CeweGermanyMedia & advertising66.916.2%75,19848.9%YesBTargets set, 1.5°C
Pennon GroupUKEnergy & utilities66.86.1%890.3800,94358.3%YesBCommitted
GrängesSwedenMachines & industrial equipment66.89.3%182398,700-31.8%YesA-Targets set, 1.5°C
LindeIrelandChemicals & materials66.85.9%1246.538,794,00023.0%YesA-Targets set, well below 2°C
National GridUKEnergy & utilities66.85.9%296.47,245,612-5.0%YesATargets set, 1.5°C
SonaePortugalBusiness & professional services66.715.8%23.2171,59840.9%YesA-
ElecnorSpainConstruction & building materials66.75.6%21.577,731-16.7%YesA-Targets set, well below 2°C
Frasers GroupUKRetail & ecommerce66.615.4%13.382,02929.6%YesNot availableCommitted
Tele ColumbusGermanyTelecommunications66.628.7%4.51,98883.4%YesNot available-
VeralliaFranceTransport, logistics & packaging66.68.6%822.62,757,00010.8%YesA-Targets set, 1.5°C
BarmeniaGermanyInsurance66.635.2%0.925182.4%YesNot available-
Vantiva (formerly Technicolor)FranceMedia & advertising66.515.0%21.559,55271.1%YesNot available-
FerreroLuxembourgFood, beverages & tobacco66.58.3%37.8529,49913.6%YesNot availableTargets set, 1.5°C
CTTPortugalTransport, logistics & packaging66.54.9%17.716,0881.5%YesA-Targets set, well below 2°C
RocheSwitzerlandPharmaceuticals66.511.6%5.4364,48035.5%YesNot availableCommitted
GivaudanSwitzerlandFood, beverages & tobacco66.54.9%26.7191,457-9.7%YesATargets set, 1.5°C
CNH IndustrialNetherlandsMachines & industrial equipment66.58.2%10.5231,54345.1%YesA-Committed
GetingeSwedenHealthcare & medical technology66.414.5%10.225,85942.6%NoNot availableTargets set, 1.5°C
Barry CallebautSwitzerlandFood, beverages & tobacco66.37.8%31.4256,15720.6%YesATargets set, 1.5°C
Landis+GyrSwitzerlandEnergy & utilities66.214.1%6.510,19654.8%NoNot availableTargets set, 1.5°C
DOF GroupNorwayTransport, logistics & packaging66.217.4%325.2286,55246.6%YesA--
Telenet GroupBelgiumTelecommunications66.27.4%3.79,97328.0%YesBCommitted
SofidelItalyPersonal & household goods66.24.0%315.3904,964-25.1%YesA-Targets set, well below 2°C
GestampSpainAutomobiles & components66.210.7%46.2495,69625.7%YesBTargets set, well below 2°C
Morgan Advanced MaterialsUKMachines & industrial equipment66.210.5%168.2211,10436.4%YesBTargets set, well below 2°C
RockwoolDenmarkConstruction & building materials66.210.5%422.31,650,0005.7%YesA-Targets set, well below 2°C
Hill & SmithUKConstruction & building materials66.27.2%70.658,30513.7%YesBTargets set, 1.5°C
NesteFinlandChemicals & materials66.117.1%95.92,466,00023.9%YesA--
EnBWGermanyEnergy & utilities66.117.0%321.217,990,200-0.5%YesA-Targets set, 1.5°C
NobiaSwedenPersonal & household goods66.117.0%6.78,92753.7%YesNot availableTargets set, 1.5°C
SavillsUKProperty66.110.2%2.87,15316.1%YesBCommitted
PrudentialUKInsurance66.010.2%0.918,58377.0%YesB-
Specialfastigheter SverigeSwedenProperty66.016.8%12.72,49952.4%YesNot availableTargets set, 1.5°C
RTL GroupLuxembourgMedia & advertising66.023.4%1.611,80070.2%YesB-
Spirax-Sarco EngineeringUKMachines & industrial equipment66.06.7%20.136,607-14.2%YesA-Targets set, 1.5°C
NilfiskDenmarkMachines & industrial equipment66.06.5%1920,31629.5%YesA-Targets set, well below 2°C
SolarDenmarkTechnology & electronics65.913.1%3.25,92037.7%YesBTargets set, 1.5°C
AptivUKAutomobiles & components65.96.3%22.2362,4971.8%YesA-Targets set, 1.5°C
GarriguesSpainBusiness & professional services65.832.7%0.731882.8%YesNot available-
Migros GruppeSwitzerlandRetail & ecommerce65.712.5%5.1155,60044.8%NoNot availableTargets set, 1.5°C
Munich ReGermanyInsurance65.712.4%0.961,97429.3%YesB-
KoneFinlandMachines & industrial equipment65.79.0%11.6126,8009.9%YesATargets set, 1.5°C
VasakronanSwedenProperty65.612.1%75,13433.9%YesNot availableTargets set, 1.5°C
Groupe TF1FranceMedia & advertising65.68.8%0.82,06825.6%YesBTargets set, 1.5°C
Intertek GroupUKBusiness & professional services65.65.2%44.7160,88711.8%YesBTargets set, 1.5°C
Uniqa Insurance GroupAustriaInsurance65.55.1%1.37,8390.7%YesBTargets set, 1.5°C
BicFrancePersonal & household goods65.511.7%1840,24541.3%YesA--
WetherspoonUKTravel, leisure & entertainment65.511.6%54.6107,29543.4%NoNot availableTargets set, 1.5°C
Gruppo TIMItalyTelecommunications65.54.9%32512,17738.8%YesATargets set, 1.5°C
VesuviusUKMachines & industrial equipment65.511.5%147.8341,39634.1%YesA--
OP Financial GroupFinlandFinancial services65.421.5%2.17,15665.9%YesB-
AbertisSpainTransport, logistics & packaging65.48.1%15.980,89837.2%YesBTargets set, 1.5°C
Kongsberg AutomotiveNorwayAutomobiles & components65.48.1%27.424,81743.7%YesB-Targets set, 1.5°C
Chr HansenDenmarkFood, beverages & tobacco65.44.7%34.642,1289.8%YesBTargets set, 1.5°C
EurobankGreeceFinancial services65.324.4%4.915,50558.7%YesB-
HolmenSwedenChemicals & materials65.34.3%40.687,000-19.0%YesA-Targets set, well below 2°C
Co-op GroupUKRetail & ecommerce65.210.6%14181,00026.8%NoNot availableTargets set, 1.5°C
Volvo GroupSwedenAutomobiles & components65.210.5%7.6324,00018.8%YesNot availableTargets set, 1.5°C
AmbuDenmarkHealthcare & medical technology65.13.7%41.224,570-56.1%YesBTargets set, 1.5°C
IpsosFranceBusiness & professional services65.17.0%5.613,4855.8%YesBCommitted
VictrexUKChemicals & materials65.03.4%93.335,9051.3%YesBCommitted
SiltronicGermanyTechnology & electronics65.010.0%141254,5239.4%YesB-
Jerónimo MartinsPortugalRetail & ecommerce65.09.9%44.11,119,1357.6%YesACommitted
FedrigoniItalyChemicals & materials65.019.9%151.4323,03939.8%NoB-Targets set, well below 2°C
FerrexpoSwitzerlandChemicals & Materials65.026.5%484.2563,93877.7%YesNot available-
N Brown GroupUKRetail & ecommerce65.09.8%5.23,98256.2%YesBCommitted
FerrariItalyAutomobiles & components64.99.7%16.483,73910.3%YesA-Committed
Colas GroupFranceConstruction & building materials64.99.6%1031,600,00020.0%YesNot availableTargets set, well below 2°C
PostNordSwedenTransport, logistics & packaging64.812.8%16.259,43644.4%YesNot availableTargets set, 1.5°C
Smurfit Kappa GroupIrelandTransport, logistics & packaging64.89.3%237.93,049,0008.1%YesA-Targets set, well below 2°C
Investitionsbank Schleswig-HolsteinGermanyFinancial services64.825.9%119167.5%YesNot available-
VoestalpineAustriaConstruction & building materials64.89.2%723.713,190,00012.9%YesA-Targets set, well below 2°C
CovestroGermanyChemicals & materials64.79.0%273.84,920,00020.9%YesA--
BoschGermanyAutomobiles & components64.75.7%30.82,716,12215.8%YesA-Targets set, 1.5°C
PandoxSwedenProperty64.75.6%17.28,7080.8%YesA-Targets set, 1.5°C
BLKBSwitzerlandFinancial services64.712.3%0.831643.0%YesNot available-
Amag Austria MetallAustriaChemicals & materials64.615.4%57.298,80027.9%YesBCommitted
Babcock International GroupUKAerospace & defence64.68.7%34.6173,28139.4%YesNot availableCommitted
NN GroupNetherlandsInsurance64.58.4%0.47,00037.3%YesB-
Arla FoodsDenmarkFood, beverages & tobacco64.511.7%48.2665,00028.5%YesNot availableTargets set, 1.5°C
Rothschild & CoFranceFinancial services64.518.3%0.51,60243.2%YesB-
ISSDenmarkBusiness & professional services64.58.2%7.576,66532.3%YesB-Targets set, 1.5°C
FortumFinlandEnergy & utilities64.414.7%1934.517,031,30012.2%YesA--
At&S Austria Technologie & SystemtechnikAustriaTechnology & electronics64.411.4%322.1577,0001.3%YesBTargets set, 1.5°C
Lyondellbasell IndustriesNetherlandsChemicals & materials64.48.0%469.622,100,0003.5%YesA-Committed
Seagate TechnologyIrelandTechnology & electronics64.44.6%89.3615,33147.9%YesBTargets set, well below 2°C
Feralpi GroupItalyConstruction & building materials64.414.6%399.3957,6499.2%YesNot availableCommitted
GrifolsSpainPharmaceuticals64.47.9%33200,3107.1%YesA-Committed
SynthomerUKChemicals & materials64.47.8%121.2353,545-16.1%YesA-Targets set, 1.5°C
BelFranceFood, beverages & tobacco64.37.8%35.6128,00028.5%NoNot availableTargets set, 1.5°C
Mowi GroupNorwayFood, beverages & tobacco64.37.7%40.2197,1499.2%YesA-Targets set, well below 2°C
EspritGermanyTextiles, apparel & luxury goods64.311.0%4.94,12974.4%YesNot available-
Banco BPMItalyFinancial services64.37.5%3.515,36625.1%YesB-
LeonardoItalyAerospace & defence64.37.5%18.8277,03115.1%YesA-Committed
ASTMItalyTransport, logistics & packaging64.210.8%20.195,960-54.9%YesA-Targets set, 1.5°C
Banca Popolare di SondrioItalyFinancial services64.210.7%3.53,77937.0%YesA--
Norwegian PropertyNorwayProperty64.110.4%21.32,06125.1%YesA--
WereldhaveNetherlandsProperty64.16.9%152,44350.1%YesBTargets set, well below 2°C
Aareal BankGermanyFinancial services64.116.9%33,03650.3%YesB-
SalMarNorwayFood, beverages & tobacco64.16.9%10.319,833-30.7%YesA-Targets set, 1.5°C
VonoviaGermanyProperty63.916.5%145.3909,43811.9%YesA--
DiabSwedenConstruction & building materials63.913.1%129.719,18643.0%YesNot availableTargets set, 1.5°C
Banca Monte dei Paschi di SienaItalyFinancial services63.913.0%1.85,52561.8%YesNot available-
GreggsUKFood, beverages & tobacco63.913.0%51.387,52821.5%NoBTargets set, 1.5°C
TymanUKConstruction & building materials63.96.2%47.738,4920.7%YesBTargets set, 1.5°C
Syzygy GroupGermanyMedia & advertising63.922.9%2.316268.3%YesNot available-
HuhtamäkiFinlandMachines & industrial equipment63.89.5%152.3682,0008.9%YesBTargets set, well below 2°C
MieleGermanyPersonal & household goods63.812.8%7.942,83933.1%YesNot availableTargets set, 1.5°C
FCC Medio AmbienteSpainEnergy & utilities63.839.4%360.5558,686-46.4%YesNot available-
AlperiaItalyEnergy & utilities63.719.2%18.968,810-14.1%YesNot availableCommitted
Unipol GruppoItalyInsurance63.75.8%2.639,14022.2%YesB-
Spirent CommunicationsUKTelecommunications63.712.4%7.54,27131.1%YesB-
AFV Beltrame GroupItalyConstruction & building materials63.618.6%218.1482,70326.2%YesNot available-
Vanquis Banking Group (formerly Provident Financial)UKFinancial services63.58.5%1.91,03774.2%YesNot available-
Tomra SystemsNorwayTechnology & electronics63.44.8%25.629,700-28.6%YesB-Committed
ProSiebenSat.1GermanyMedia & advertising63.414.7%0.72,99153.9%YesB-
IGD SiiQItalyProperty63.411.3%175.919,19738.0%YesB--
QuadientFranceBusiness & professional services63.314.4%8.69,29955.4%YesB-
SydbankDenmarkFinancial services63.324.4%1.395969.3%YesNot available-
Artsana GroupItalyPersonal & household goods63.317.7%1410,23158.6%YesNot available-
LatourSwedenFinancial services63.324.2%10.821,87843.1%NoB-
The Navigator CompanyPortugalChemicals & materials63.24.0%367.5905,812-23.0%YesA-Targets set, 1.5°C
Luis SimõesPortugalTransport, logistics & packaging63.210.6%100.627,08035.7%YesNot availableCommitted
IrenItalyEnergy & utilities63.213.9%451.83,552,770-0.7%YesA-Targets set, well below 2°C
GothaerGermanyInsurance63.110.5%2.56,15234.9%YesNot available-
APG SGASwitzerlandMedia & Advertising63.06.8%3.31,02627.3%YesA--
Modern Times Group (MTG)SwedenTravel, leisure & entertainment63.020.0%0.840489.7%YesNot available-
WellspectSwedenHealthcare & medical technology63.03.2%12.23,06715.2%YesNot availableCommitted
KemiraFinlandChemicals & materials62.99.8%228.6816,00014.3%YesBCommitted
IDSUKTransport, logistics & packaging62.93.1%37.3507,200-1.3%YesNot availableTargets set, 1.5°C
VolexUKMachines & industrial equipment62.99.7%29.720,000-34.7%YesBCommitted
HaysUKBusiness & professional services62.96.3%1.210,3344.6%YesBTargets set, 1.5°C
FergusonUKConstruction & building materials62.812.8%9.5252,80925.4%YesB-
Bawag GroupAustriaFinancial services62.822.6%22,58667.2%YesNot available-
FincantieriItalyMachines & industrial equipment62.89.2%31.4230,6657.8%YesA--
PSI SoftwareGermanyTechnology & electronics62.715.8%2.253943.6%YesB--
Gruppo MediobancaItalyFinancial services62.79.1%0.92,92814.4%YesB-
Atlas CopcoSwedenMachines & industrial equipment62.79.0%8.5108,000-2.9%YesBTargets set, 1.5°C
Spire Healthcare GroupUKHealthcare & medical technology62.712.2%19.125,77333.0%YesB-
HalmaUKTechnology & electronics62.615.3%6.714,09125.1%YesB-
NolatoSwedenTechnology & electronics62.68.7%51.449,537-1.9%YesBCommitted
Swedish MatchSwedenFood, beverages & tobacco62.511.8%15.631,234-1.7%YesBTargets set, well below 2°C
Safilo GroupItalyPersonal & household goods62.414.7%15.216,33753.6%YesNot availableCommitted
ValiantSwitzerlandFinancial services62.30011.1%0.0031,35435.8%YesB-
Groupe SEBFrancePersonal & household goods62.34.3%25.7204,3631.3%YesA-Targets set, well below 2°C
AltareitFranceProperty62.320.9%0.51,47051.0%YesNot available-
Gruppo La DoriaItalyFood, beverages & tobacco62.37.5%65.266,391-3.0%YesNot availableCommitted
Paulig GroupFinlandFood, beverages & tobacco62.27.5%21.523,80519.4%YesNot availableTargets set, 1.5°C
MTU Aero EnginesGermanyAerospace & defence62.214.1%8.947,60036.0%YesB-
TP IcapUKFinancial services62.210.7%49,61631.8%YesB--
RenfeSpainTransport, logistics & packaging62.227.4%66.5141,59082.4%NoNot available-
Grafton GroupIrelandConstruction & building materials62.17.0%19.249,97441.0%YesB-
BLG LogisticsGermanyTransport, logistics & packaging62.16.8%52.859,03927.8%YesNot availableTargets set, well below 2°C
ProsafeNorwayMachines & industrial equipment62.020.1%131.424,38877.1%YesNot available-
AimagItalyEnergy & utilities62.020.0%71.940,24420.6%YesNot available-
Deka-GruppeGermanyFinancial services62.020.0%1.53,34251.3%YesNot available-
Dormakaba HoldingSwitzerlandTechnology & electronics62.03.3%22.564,62115.3%YesBTargets set, 1.5°C
DKBGermanyFinancial services61.919.8%0.341554.0%YesNot available-
AddtechSwedenTechnology & electronics61.96.4%3.86,333-67.7%YesBCommitted
SnamItalyEnergy & utilities61.96.4%434.21,518,0000.7%YesA-
Nomad FoodsUKFood, beverages & tobacco61.86.1%45.8134,690-10.0%YesNot availableTargets set, 1.5°C
UmicoreBelgiumChemicals & materials61.812.7%26.9684,993-8.1%NoA-Targets set, 1.5°C
Zignago VetroItalyTransport, logistics & packaging61.812.6%709.4332,595-29.7%YesA--
Slovenské elektrárneSlovakiaEnergy & Utilities61.825.9%246.31,308,06845.7%NoNot available-
Wüstenrot & WürttembergischeGermanyFinancial services61.725.8%0.73,33273.8%NoNot available-
AntofagastaUKChemicals & materials61.719.0%237.91,300,60257.0%NoB-
Smith & NephewUKHealthcare & medical technology61.712.2%1048,84742.9%YesB-
WärtsiläFinlandTechnology & Electronics61.612.2%12.170,93837.8%YesB--
Slovak TelekomSlovakiaTelecommunications61.618.8%8.26,67161.7%YesNot available-
JMSwedenProperty61.68.6%2.63,80838.6%YesB-
AlstomFranceTransport, logistics & packaging61.65.3%10.8179,000-58.4%YesBTargets set, 1.5°C
Cassa Depositi e PrestitiItalyFinancial services61.618.5%0.81,32562.5%YesNot available-
SBBSwitzerlandTransport, logistics & packaging61.55.0%7.378,90012.3%YesNot availableTargets set, 1.5°C
AlroRomaniaChemicals & materials61.524.9%594.8426,78168.8%NoNot available-
AudiGermanyAutomobiles & components61.224.1%3.1189,07874.0%NoNot available-
BodycoteUKChemicals & materials61.17.0%304.4255,40024.9%NoBTargets set, well below 2°C
Campari GroupItalyFood, beverages & tobacco61.110.2%27.589,803-8.4%YesA--
AF GruppenNorwayConstruction & building materials61.116.9%11.433,7769.8%YesB-
Aker SolutionsNorwayConstruction & building materials61.03.5%4.919,199-54.5%YesBCommitted
TÜV RheinlandGermanyBusiness & Professional Services61.016.7%20.245,85053.7%YesNot available-
IMCDNetherlandsChemicals & materials61.016.6%2.611,8622.9%YesB-
Bayerische LandesbankGermanyFinancial services61.016.6%0.61,70350.1%YesNot available-
BeckersGermanyChemicals & materials60.913.2%23.815,79535.1%YesNot available-
OdfjellNorwayChemicals & materials60.99.7%1054.91,288,6186.7%YesB--
AmcorSwitzerlandTransport, logistics & packaging60.96.3%131.61,804,329-13.7%YesNot availableCommitted
LandsvirkjunIcelandEnergy & Utilities60.96.2%74.242,1308.7%YesA-
MedionGermanyTechnology & Electronics60.916.2%0.436056.9%YesNot available-
ConstelliumFranceChemicals & materials60.89.5%137.71,118,0005.7%YesB-
IMAItalyMachines & industrial equipment60.89.4%10.520,81115.9%YesB-
Grupo CorreosSpainTransport, logistics & packaging60.89.4%18.636,42335.5%YesB-
Infineon TechnologiesGermanyTechnology & electronics60.812.7%62.4886,671-2.0%YesBCommitted
DeutzGermanyAutomobiles & Components60.722.30%1019,194.062.5%NoNot available-

This year, the highest-scoring company is National Air Traffic Services, the UK air traffic control provider, with 88.8 points, followed by Swedish telco Tele2 — last year’s top scorer — and Spanish fashion group Inditex. 

As in all previous years, financial services accounted for the greatest number of companies in the list, this time 10 per cent of them. Next came construction and building materials (8 per cent), then transport, logistics, and packaging (7 per cent). Once again, the UK was home to the greatest number of companies — 23 per cent — followed by Germany (12 per cent) and France (11 per cent). 

A steady increase in corporate emissions data means that this year the Climate Leaders list comprises 600 companies, compared with 300 when it began in 2021. And, from the initial longlist of about 2,000 candidate companies, the number meeting the key threshold of reducing their core emissions intensity by more than 3 per cent a year, rose this year by 35 per cent. It is striking that this year’s lowest-scoring company has a score of 61, beating the lowest score of 55 on last year’s 500-strong list.

While such developments are promising, the Climate Leaders methodology has shortcomings. It prioritises Scope 1 and 2 emissions because it is mandatory to report these, so data is both readily available and comparable. Companies’ Scope 3 emissions are typically far greater but, because reporting remains voluntary and there is no standard metric, definitive comparisons are harder to make — hence the focus on transparency instead of absolute numbers.

Scope 3 emissions are particularly high in the “fast fashion” sector, with companies including Inditex facing pressure from sustainability campaigners and EU legislators over business models that also generate a lot of waste.

In any industry, it is possible for a fast-growing company to reduce its emissions intensity while increasing its absolute emissions (represented in the table by negative figures in the “total reduction of core emissions” column). So, this year, we have factored performance on cutting absolute emissions into the scores, for the first time.

Sometimes, companies’ own carbon accounting, whether cited in corporate reports or submitted to CDP, may be inconsistent or lack key details. To mitigate this risk, the figures reported for 2017 and 2022 by the biggest emissions cutters, in terms of both intensity and absolute emissions, have also been scrutinised by GreenWatch, a sustainability research team based at University College Dublin. Its findings have been added to the table as footnotes.

The editors reserved the right to exclude companies if their broader environmental record — on non-GHG pollution, for example, or deforestation — was sufficiently disputed to undermine any claim to be a “climate leader”. Energy companies prospecting for new fossil fuel reserves and businesses censured by regulators for greenwashing fell into this category, as did banks increasing their financing of fossil fuels.

Despite these qualifications, it is clear that the companies on the list are trying to reduce their carbon footprints, and with some success. Whether this will enable Brussels and national governments to hit their emissions goals is another matter: the European Environment Agency estimates that the EU is likely to have cut carbon emissions relative to 1990s levels by 48 per cent by 2030, rather than the 55 per cent it is aiming for.

Meanwhile, climate records continue to be broken, with record land and sea temperatures over the past year, helping push the global average beyond 1.5C over the pre-industrial average. That is the preferred maximum under the UN’s 2015 Paris Climate Agreement, though a longer period is required at that temperature for the threshold scientifically to be breached.

If that were not enough, the World Meteorological Organization says that Europe’s temperature rise is twice the global average. The continent’s business leaders and policymakers can look forward to more stormy weather.

A print and online report on Europe’s Climate Leaders will be published on May 16, containing articles analysing the issues that this research raises

[1] Compound annual reduction rate (CARR) based on the sum of Scope 1 and 2 emissions and adjusted by revenue growth between 2017-2022.

[2] Calculated for 2022

[3] Absolute change in GHG emissions between 2017 and 2022. Positive values reflect a reduction in emissions, negative values an increase. All the companies on the list have, however, cut their emissions intensity.

[4] Scope 3 refers to indirect emissions, which can be reported for some or all of 15 categories and thus vary enormously. This is why absolute figures are left out here.

[5] CDP is a non-profit organisation that assesses how well companies and other bodies report on and reduce their environmental impact.

[6] SBTi is a partnership between CDP, the UN Global Compact, the World Resources Institute and WWF and helps companies set targets for reducing greenhouse gas emissions.


GreenWatch assessment

[a] This company’s core emissions intensity performance might have been different if the Scope 1 and 2 emissions detailed in its annual report were fully consistent with the figures it submitted to CDP, and if it had provided more comprehensive disclosures on the use of renewable energy products to offset Scope 2 emissions.

[b] This company’s core emissions intensity performance might have been different if the Scope 1 and 2 emissions detailed in its annual report were fully consistent with the figures it submitted to CDP.

[c] This company’s core emissions intensity performance might have been different if the Scope 2 emissions detailed in its annual report were fully consistent with the figures it submitted to CDP, and if it had provided more comprehensive disclosures on the use of renewable energy products to offset Scope 2 emissions.

[d] This company’s core emissions intensity performance might have been different if the Scope 2 emissions detailed in its annual report were fully consistent with the figures it submitted to CDP.

[e] This company’s core emissions intensity performance might have been different if additional information about the use of renewable energy products to offset Scope 2 emissions had been disclosed.

[f] Having reviewed this entry, GreenWatch does not have a material comment on this company’s core emissions intensity performance.

To make comparison easier, we have used the same GreenWatch footnote system as last year; this year no companies fall into categories [d] and [f]


We are grateful to the Rainforest Action Network for providing analytical support to inform the Europe’s Climate Leaders list

Methodology

Europe’s Climate Leaders 2024 is a list of 600 European companies that have achieved the greatest reduction in their greenhouse gas (GHG) emissions intensity and made further climate-related commitments. These two factors are combined to produce an overall score for each company.

For the first of these, the compilers looked for the businesses whose GHG emissions intensity fell the most between 2017 and 2022. Emissions intensity is defined as tonnes of Scope 1 and Scope 2 emissions of CO₂-equivalent per €1mn in revenue. The 2017 and 2022 figures were used to calculate the compound annual rate of reduction, expressed as a percentage, which contributed 80 per cent of the overall score.

For the second, the compilers assigned a score based on: transparency and extent of Scope 3 emissions reporting; reduction in absolute Scope 1 and 2 emissions; and commitment to net zero and collaboration with CDP and SBTi. This accounted for 20 per cent of the overall score

All European companies — defined as having headquarters in one of 33 European countries — with a minimum revenue of €40mn or £36mn in 2022 were eligible for consideration. For non-euro countries, the currency value equivalent as of 31/12/2022 was the threshold.

A call for entries in October 2023 invited prospective participants to complete a short questionnaire about their GHG emissions between 2017 and 2022, and their revenue over the same period (or, for banks and insurance companies, total income). Statista also conducted independent research, scrutinising data from about 2,000 companies and inviting possible candidates to register.

For businesses with a rating from CDP, only those with a score of at least B- were considered. Companies that do not work with CDP were still eligible, but for any company annually emitting more than 2mn tonnes of CO₂-equivalent, a CDP score of at least A- was mandatory.

The editors also reserved the right to exclude companies if their broader environmental records, beyond reported Scope 1 and 2 emissions, were sufficiently disputed to undermine any claim to be a “climate leader”.

All companies for which relevant data was found — both those that registered and those independently identified — were contacted so that they could review the data. Of those, the 600 with the greatest reduction in emissions intensity have made it into the final list of European Climate Leaders 2024.

Fuller information about the methodology is available from Statista. Although extensive research was carried out, the list does not claim to be complete, as some companies did not publish their figures or did not participate.

Copyright The Financial Times Limited 2024. All rights reserved.
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