Sunset industry: this coal-fired power station in Boxberg, Germany, is due to be powered off in 2038 as the country strives to cut greenhouse gas emissions
Sunset industry: this coal-fired power station in Boxberg, Germany, is due to be powered off in 2038 as the country strives to cut greenhouse gas emissions © Photothek via Getty Images

The FT’s inaugural listing of Europe’s Climate Leaders arrives as the effects of climate change are becoming ever clearer, and efforts to tackle it are starting to intensify.

Later this year, world leaders will gather in Glasgow for COP26, a UN summit convened to advance efforts to reverse global warming. Adding urgency to their discussions is the fact that 2020 tied with 2016 for being the hottest year on record globally, and was the out-and-out hottest in Europe.

While the new FT listing, compiled by research company Statista, details impressive corporate progress in fighting climate change, it also underlines the scale of the challenges still confronting business leaders and politicians.

The 300 companies listed below are those that achieved the greatest reduction in their greenhouse gas (GHG) emissions intensity between 2014 and 2019. Emissions intensity is defined as tonnes of emissions of CO2-equivalent per €1m of revenue.

Though some of the percentages are comfortably into double figures, they only take account of so-called Scope 1 and Scope 2 emissions — that is, respectively, those directly produced by a company itself, and those produced in generating the energy used by the company. (The interactive table below uses “core emissions” as a shorthand.)

Scope 3 emissions, which occur at all other points in the value chain, are not factored in, as there is no single standard for reporting them. Yet these account for the bulk of most companies’ emissions — a factor of particular relevance to, among others, the fashion industry, which is represented by three companies in the top 20, including table leader Superdry.

Glasgow will host the UN summit COP26 later this year, which is aimed at reducing global warming
Glasgow will host the UN summit COP26 later this year, which is aimed at reducing global warming © Alamy Stock Photo

A handful of companies on the list have also increased their revenues at a rate that has outstripped their energy usage, which means that their Scope 1 and 2 emissions have increased in absolute terms even as their emissions intensity has fallen.

Given these complexities, we are listing the companies initially in descending order of reduction in emissions intensity, although no overall ranking is implied. The list is sortable in multiple ways using the toggles at the top of the column headings.

Some interesting patterns emerge: the UK is home to by far the largest number of companies on the list, 94 in total, followed by Switzerland and Germany, with 35 each.

Financial services is the top-performing sector — a factor that may partly explain the UK’s performance, given London’s dominance in this area — but that does not mean that the 40 firms in question can rest on their laurels. Sustainability-minded investors are becoming increasingly concerned about so-called “financed emissions”, which arise from activities enabled by banks’ backing yet fall outside their core emissions.

UK fashion retailer Superdry topped the table, reducing Scope 1 and 2 emissions by more than 50 per cent
UK fashion retailer Superdry topped the table, reducing Scope 1 and 2 emissions by more than 50 per cent © Bloomberg

The companies listed in Europe’s Climate Leaders can certainly take pride in their inclusion. Yet only one metric really matters: the ever increasing amount of greenhouse gases in the atmosphere. For the delegates at COP26 this year, complacency will not be an option.

A print and online report on Europe’s Climate Leaders will be published on May 27, containing articles analysing the issues that the research raises.

Scroll down to the bottom of the interactive table for the full research methodology.

Europe’s Climate Leaders 2021
CompanyCountrySectorReduction of core emissions YoY 2014-19, aligned with revenue growth [1]Emission intensity
(greenhouse gases in tonnes per €m revenue) [2]
Core emissions
(scope 1 + 2)
in tonnes (CO2 equivalents)
Total reduction of core GHG emissions
2014-19 [3]
Scope 3 emissions reported [4]Carbon Disclosure Project (CDP) rating [5]Participation in Science Based Targets initiative (SBTi) [6]
SuperdryUKFashion51.9%0.436396.3%noB
Fastweb [a]ItalyTelecoms48.1%1.53,22395.0%yesNot requestedTargets Set: 1.5°C
London Stock Exchange Group (LSEG)UKFinancial Services47.2%0.71,81692.6%yesA-Targets Set: 1.5°C
SEGROUKProperty44.5%5.72,88592.1%noA-
EDP RenováveisSpainEnergy44.0%1.32,37092.1%yesA
Lloyds Banking GroupUKFinancial Services42.0%1.047,91184.9%yesA-
NATSUKAerospace & Defence40.5%2.32,37092.8%noNot requested
Mediaset EspañaSpainMedia39.8%0.652591.9%yesB
ElisaFinlandTelecoms39.5%2.64,80690.3%yesA-Targets Set: 1.5°C
Drax GroupUKEnergy39.1%426.82,371,00085.9%noA-Committed
St. James’s PlaceUKFinancial Services39.0%0.086569.3%yesB
Logitech InternationalSwitzerlandTechnology38.5%1.62,84985.0%yesBCommitted
CajamarSpainFinancial Services38.1%0.781391.2%yesA-
VaisalaFinlandIndustrial Goods37.3%2.393586.9%yesB
Melrose [b]UKFinancial Services36.7%3.544,78118.7%noNot scored (F)
CrevalItalyFinancial Services35.3%0.531091.7%yesNot requested
Burberry GroupUKFashion35.2%1.75,20788.1%noATargets Set: 1.5°C
H&M GroupSwedenFashion34.9%2.861,46282.0%noATargets Set: Well-below 2°C
WorkspaceUKProperty34.6%18.83,58076.9%yesATargets Set: 1.5°C
PearsonUKEducation33.2%3.013,66989.5%yesBTargets Set: 1.5°C
MMItalyConstruction33.0%25.56,98385.5%noNot requested
Chocolats Camille BlochSwitzerlandFood & Beverage32.8%2.514487.2%noNot requested
Manchester Airports GroupUKTransport32.7%14.415,08181.8%yesNot requested
De La RueUKSupport Services32.1%20.111,08685.7%yesB-
Telia CompanySwedenTelecoms31.2%6.755,00086.9%noB Targets Set: 1.5°C
RELXUKMedia30.8%2.825,55278.4%yesB
LandsecUKProperty30.5%12.711,38182.9%yesATargets Set: 1.5°C
ICA GruppenSwedenRetail30.3%4.652,68977.5%yesNot scored (F)Targets Set: Well-below 2°C
SavillsUKProperty30.1%1.02,20070.2%noNot scored (F)
SingerSwitzerlandFashion29.9%1.15083.2%noNot requested
JupiterUKFinancial Services29.2%0.29680.7%yesA-
SchibstedNorwayMedia27.9%0.81,44775.3%yesB
Tokmanni GroupFinlandRetail27.9%6.56,17674.9%yesBTargets Set: 1.5°C
Thule Group SwedenPersonal & Household Goods27.7%5.13,39069.5%yesBTargets Set: 1.5°C
CastellumSwedenProperty27.1%11.26,22264.0%yesATargets Set: 1.5°C
NatWest GroupUKFinancial Services26.9%4.066,58583.7%yesA-Committed
Man GroupUKFinancial Services26.5%1.61,60079.3%yesB-
Oriflame CosmeticsSwedenPersonal & Household Goods26.1%5.56,88078.1%yesA-Committed
BarclaysUKFinancial Services25.7%5.3134,34781.0%yesB
PumaGermanyFashion25.6%3.317,85957.8%yesBTargets Set: Well-below 2°C
N Brown GroupUKRetail25.1%3.22,27082.8%yesA-
S GroupFinlandRetail25.1%10.377,10075.6%noA
Banque Cantonale VaudoiseSwitzerlandFinancial Services24.9%2.22,00176.3%yesA-
Liberty GlobalUKMedia24.6%8.587,33384.5%yesA-Targets Set: 1.5°C
BAWAG GroupAustriaFinancial Services24.3%2.53,05766.7%yesNot scored (F)
SIGSwitzerlandIndustrial Goods24.3%17.631,35772.7%yesBTargets Set: 1.5°C
JCDecauxFranceMedia23.8%16.463,95664.4%yesA-
AccionaSpainEnergy23.7%23.0165,64971.4%yesA-Targets Set: 1.5°C
INGNetherlandsFinancial Services23.6%1.019,00069.4%yesACommitted
SwedbankSwedenFinancial Services23.4%1.77,08771.0%yesBCommitted
Dixons CarphoneUKTechnology23.3%3.238,97067.1%yesB
ØrstedDenmarkEnergy23.1%203.71,850,00070.2%yesATargets Set: 1.5°C
United UtilitiesUKEnergy22.5%58.6128,70569.7%yesA-Committed
BankinterSpainFinancial Services22.3%1.22,55659.8%yesA-
AggrekoUKEnergy22.2%2410.74,593,02070.8%yesB
KlépierreFranceProperty21.9%26.134,62557.4%yesATargets Set: 1.5°C
RenfeSpainTransport21.9%80.4185,57069.8%noNot requested
Credit SuisseSwitzerlandFinancial Services21.4%1.735,10073.7%yesA-Committed
UCBBelgiumPharmaceuticals21.1%6.129,77655.0%yesB-Committed
Sopra Steria GroupFranceManagement Consulting20.9%1.56,43659.2%yesATargets Set: 1.5°C
Indra SistemasSpainTechnology20.8%3.19,99766.1%yesBCommitted
DNBNorwayFinancial Services20.8%0.73,79465.3%yesA
InditexSpainFashion20.1%12.4350,10049.1%yesA-Targets Set: 1.5°C
NN GroupNetherlandsFinancial Services20.0%0.47,31750.6%noA-
EricssonSwedenTelecoms19.9%4.597,70067.2%yesBTargets Set: 1.5°C
CityconFinlandRetail19.8%153.033,26157.5%yesB
WPPUKMedia19.4%4.164,42461.0%noBCommitted
Malta International AirportMaltaTransport19.1%54.35,43245.8%noNot requested
WoodUKEnergy18.9%3.732,77047.3%noB
SThreeUKSupport Services18.8%1.52,41236.5%yesB
WorldlineFranceFinancial Services18.8%2.96,85726.9%yesA-Targets Set: Well-below 2°C
WhitbreadUKTravel & Leisure18.8%31.677,26571.9%noA-
Husqvarna GroupSwedenPersonal & Household Goods18.6%19.176,78553.9%noBTargets Set: 1.5°C
Beiersdorf [c]GermanyPersonal & Household Goods18.2%7.043,67055.8%yesATargets Set: 1.5°C
BauerGermanyConstruction18.1%3.24,77365.2%noNot requested
AenaSpainTransport18.1%30.3136,63147.5%yesA
AltareaFranceProperty18.1%0.82,20020.6%yesNot scored (F)
WHSmithUKRetail17.8%11.418,80554.8%yesA-
GarriguesSpainSupport Services17.8%3.41,30457.2%yesNot requested
C&C GroupIrelandFood & Beverage17.7%15.130,24117.4%noB
Edmond de Rothschild GroupSwitzerlandFinancial Services17.6%6.24,490-121.4%yesNot requested
Basler Kantonalbank (BKB)SwitzerlandFinancial Services17.5%0.26158.5%yesNot scored (F)
Qinetiq GroupUKAerospace & Defence17.5%28.135,58746.2%noNot scored (F)Committed
SAPGermanyTechnology17.5%10.9300,00040.0%noATargets Set: 1.5°C
UniCreditItalyFinancial Services17.4%6.0112,10267.8%yesA-
Egea GroupItalyEnergy17.3%150.3144,18647.1%noNot requested
Deutsche TelekomGermanyTelecoms17.1%22.41,802,01749.6%yesATargets Set: 1.5°C
SkyUKMedia17.0%4.267,90228.5%yesNot requestedTargets Set: 1.5°C
JMSwedenProperty16.9%3.14,65127.2%yesB
FirmenichSwitzerlandChemicals16.5%22.580,42044.9%yesATargets Set: 1.5°C
IberdrolaSpainEnergy16.4%431.915,737,62050.4%yesA-Targets Set: 1.5°C
BayerGermanyPharmaceuticals16.2%85.23,710,00057.5%yesATargets Set: 1.5°C
BAE SystemsUKAerospace & Defence15.8%44.7965,43649.8%yesB-
Amadeus SpainTechnology15.7%3.620,06230.3%yesA-
SacyrSpainProperty15.5%116.7486,62038.0%yesA-Committed
DunelmUKInteriors15.4%14.418,65434.6%noNot scored (F)
Wüstenrot & WürttembergischeGermanyFinancial Services15.4%3.48,07654.4%yesNot scored (F)
Correos GroupSpainSupport Services15.3%18.742,33343.0%noNot requested
Meliá Hotels InternationalSpainTravel & Leisure15.3%66.1118,99247.4%yesA-Targets Set: Well-below 2°C
TelefónicaSpainTelecoms15.3%19.8962,94651.3%yesATargets Set: 1.5°C
OrionFinlandPharmaceuticals15.2%19.220,12354.7%noB
Morgan Sindall GroupUKConstruction15.2%5.820,90339.3%yesATargets Set: 2°C
CentricaUKEnergy14.8%72.12,283,51459.1%yesA
AkwelFranceAutomobiles14.8%3.13,35628.3%yesNot scored (F)
HalmaUKTechnology14.7%10.817,13416.8%yesB-
VerbundAustriaEnergy14.6%355.61,385,00038.6%yesA-Targets Set: 1.5°C
CaixaBankSpainFinancial Services14.5%0.75,92464.8%yesA-
SymriseGermanyChemicals14.4%94.4321,64126.0%yesATargets Set: 2°C
Berkeley GroupUKProperty14.2%2.69,11815.3%yesATargets Set: 1.5°C
LundbeckDenmarkPharmaceuticals14.0%6.715,31640.3%noATargets Set: 1.5°C
VolvoSwedenAutomobiles13.9%7.9324,00027.8%noNot scored (F)Committed
AllianderNetherlandsEnergy13.8%247.9478,44745.9%yesNot requested
TF1 GroupFranceMedia13.8%0.71,60646.9%yesNot requested
TescoUKRetail13.8%28.42,168,65451.4%yesA-Targets Set: 1.5°C
Mettler-ToledoSwitzerlandIndustrial Goods13.6%13.135,23541.9%yesB
SeverfieldUKConstruction13.5%24.19,33121.4%noB
Paragon Banking GroupUKFinancial Services13.4%6.12,21724.3%noNot scored (F)
Great Portland EstatesUKProperty13.3%48.75,88643.6%yesBTargets Set: 1.5°C
BoschGermanyIndustrial Goods13.3%25.01,943,00022.3%noATargets Set: 1.5°C
TalkTalk Telecom GroupUKTelecoms13.3%4.37,88257.2%noBCommitted
Rothschild & CoFranceFinancial Services13.3%2.02,30548.6%yesA-
ElectroluxSwedenPersonal & Household Goods13.2%17.2195,00047.7%noATargets Set: 1.5°C
KeskoFinlandRetail13.2%11.2120,16541.6%noA
KlövernSwedenProperty13.1%33.211,49815.7%noBCommitted
BMWGermanyAutomobiles13.0%9.1944,83335.3%yesA
Abertis [d]SpainConstruction12.9%20.0107,34344.9%yesB
Balfour BeattyUKConstruction12.8%24.4210,63249.3%noBCommitted
RocheSwitzerlandPharmaceuticals12.7%8.6483,92334.5%yesNot scored (F)
Ted BakerUKFashion12.7%5.33,92217.6%noB-Committed
nmcnUKConstruction12.7%18.89,002-6.1%yesNot scored (F)
GCP StudentUKProperty12.7%59.33,111-147.7%yesNot requested
L’OréalFrancePersonal & Household Goods12.6%2.780,30032.5%yesATargets Set: 1.5°C
Unilever [e]UKPersonal & Household Goods12.6%18.7969,49845.3%yesATargets Set: 1.5°C
WetherspoonUKTravel & Leisure12.5%65.8141,37433.7%noNot scored (F)
AF GruppenNorwayConstruction12.2%19.745,159-18.7%yesNot scored (F)
Swedish MatchSwedenFood & Beverage12.1%22.531,59341.9%yesBTargets Set: Well-below 2°C
GraingerUKProperty12.1%4.51,17263.3%yesB
OrklaNorwayFood & Beverage12.0%28.9127,78622.4%yesATargets Set: 1.5°C
KingfisherUKRetail11.9%18.5251,36644.2%noA-Targets Set: 2°C
EngieFranceEnergy11.7%940.356,470,80956.9%yesATargets Set: 2°C
Taylor WimpeyUKConstruction11.7%4.824,58113.2%noBTargets Set: 1.5°C
AfrySwedenManagement Consulting11.7%6.211,677-20.9%yesBCommitted
GivaudanSwitzerlandChemicals11.6%26.9153,55724.2%yesATargets Set: 1.5°C
Dassault AviationFranceAerospace & Defence11.6%12.894,540-7.9%yesNot scored (F)
McColl’s Retail GroupUKRetail11.6%27.840,02728.7%noNot scored (F)
SodexoFranceSupport Services11.5%5.5121,35733.9%yesATargets Set: 1.5°C
ShaftesburyUKProperty11.5%7.21,07729.8%yesBTargets Set: 1.5°C
Close BrothersUKFinancial Services11.4%4.64,41432.3%noB-
LVMHFranceFashion11.3%4.7250,4184.0%yesBCommitted
BritvicUKFood & Beverage11.3%21.038,25137.0%yesBTargets Set: 1.5°C
Merlin Entertainments GroupUKTravel & Leisure11.3%52.6108,13023.5%noNot scored (F)
Implenia SchweizSwitzerlandConstruction11.1%8.635,05915.5%noNot scored (F)
HKScanFinlandFood & Beverage11.0%67.1117,00051.0%noNot requestedCommitted
Luzerner KantonsspitalSwitzerlandHealth11.0%2.21,56237.5%yesNot requested
SantanderSpainFinancial Services11.0%4.1200,19535.3%yesB
HeinekenNetherlandsFood & Beverage10.9%53.61,529,27516.8%noA-Targets Set: Well-below 2°C
FraportGermanyTransport10.9%61.4227,60013.1%noNot scored (F)
GSKUKPharmaceuticals10.9%33.21,323,00017.5%noBTargets Set: 1.5°C
SalMarNorwayAgricultural Commodities10.8%12.115,1413.0%yesBCommitted
ABB SwitzerlandEnergy10.8%30.7998,00038.8%yesA-Committed
Jerónimo MartinsPortugalRetail10.8%48.5903,26117.0%yesA-
EnagasSpainEnergy10.7%269.0310,16245.7%noACommitted
BertelsmannGermanyMedia10.6%24.0431,90038.3%yesBCommitted
CEWEGermanyMedia10.5%14.710,49121.8%yesBTargets Set: 1.5°C
Direct Line Insurance GroupUKInsurance10.5%28.113,93249.0%yesBCommitted
BayWaGermanyAgricultural Commodities10.5%9.548,38245.6%yesB
DekaGermanyFinancial Services10.5%4.06,17337.7%yesNot requested
Bank of IrelandIrelandFinancial Services10.5%3.318,52936.8%noBCommitted
Nokian TyresFinlandAutomobiles10.5%56.289,67333.8%yesA-Targets Set: Well-below 2°C
MITIE GroupUKSupport Services10.5%10.326,45941.6%noA-Committed
FortumFinlandEnergy10.4%19.0103,50033.9%yesA-
DaimlerGermanyAutomobiles10.4%14.62,515,00023.1%noA-
DignityUKSupport Services10.4%39.715,90327.1%noB-
Johnson Controls [f]IrelandTechnology10.4%42.4906,48764.2%yesA-Committed
Sainsbury’sUKRetail10.4%27.7950,11529.8%noATargets Set: 1.5°C
HandelsbankenSwedenFinancial Services10.2%1.35,44932.2%yesB
Weir GroupUKIndustrial Goods10.1%72.0226,292-44.8%noA-
EnelItalyEnergy10.1%899.872,280,00037.8%yesATargets Set: 1.5°C
CarrefourFranceRetail10.0%25.31,833,00044.0%yesA-Targets Set: Well-below 2°C
RedrowUKConstruction10.0%5.814,463-44.5%noB
BATUKFood & Beverage10.0%25.6782,000-9.7%noATargets Set: 2°C
Eternit SchweizSwitzerlandConstruction9.9%13.41,47848.5%noNot requested
Precious Woods HoldingSwitzerlandAgricultural Commodities9.9%399.417,72332.1%yesNot Requested
DeutzGermanyAutomobiles9.9%28.552,41828.5%noNot scored (F)
Groupe SEBFrancePersonal & Household Goods9.8%32.9241,953-3.1%yesA-
Atlas CopcoSwedenIndustrial Goods9.8%8.382,00033.9%yesA-
MeggittUKAerospace & Defence9.8%43.0115,55712.4%noNot scored (F)
Publicis GroupeFranceMedia9.7%6.563,99519.1%yesB-Targets Set: 1.5°C
Georg FischerSwitzerlandTechnology9.7%101.7340,00041.1%yesA-
Travis PerkinsUKRetail9.6%18.9155,42524.8%noB
EndesaSpainEnergy9.6%902.618,194,49943.4%yesA
AxfoodSwedenRetail9.6%4.220,28820.2%yesNot scored (F)
BLG LOGISTICSGermanyTransport9.5%63.974,09020.2%yesNot requestedTargets Set: Well-below 2°C
Marston’sUKTravel & Leisure9.4%84.9117,64012.2%noNot scored (F)
BBVASpainFinancial Services9.4%8.7212,48927.7%noA-Committed
ShoppiTivoli SwitzerlandRetail9.3%1.243540.3%noNot requested
Ocado GroupUKTechnology9.3%42.187,316-13.9%noB
Coca-Cola HBCSwitzerlandFood & Beverage9.1%68.5481,49033.0%yesATargets Set: Well-below 2°C
WebuildItalyConstruction9.0%76.8393,96424.4%yesB
SGSSwitzerlandSupport Services8.9%21.4130,20129.7%yesA-Targets Set: 2°C
Greene KingUKTravel & Leisure8.9%67.7153,4688.3%noNot requested
EnBWGermanyEnergy8.8%623.511,700,00043.8%yesA
AccentureIrelandManagement Consulting8.8%6.1233,6039.4%yesATargets Set: 1.5°C
Naval GroupFranceAerospace & Defence8.8%6.022,28823.8%yesNot requested
FergusonUKRetail8.8%14.2278,59723.9%yesA-
DiageoUKFood & Beverage8.8%25.7586,00012.8%yesATargets Set: Well-below 2°C
HalfordsUKAutomobiles8.7%18.525,22128.5%noNot scored (F)
Trane TechnologiesIrelandIndustrial Goods8.7%36.3537,56218.3%yesA-Targets Set: 1.5°C
BraemarUKTransport8.7%4.970447.4%noNot scored (F)Targets Set: 2°C
Spirent CommunicationsUKTelecoms8.7%10.74,78629.9%noB
Vontobel HoldingSwitzerlandFinancial Services8.6%1.11,2328.9%yesB
Caixa Geral de DepósitosPortugalFinancial Services8.5%13.124,58530.3%noBCommitted
DecathlonFranceFashion8.4%13.5167,9202.4%yesBTargets Set: 1.5°C
SuvaSwitzerlandInsurance8.4%0.83,21633.3%yesNot requested
ArkemaFranceChemicals8.3%441.43,840,00014.6%yesA-Committed
Barry CallebautSwitzerlandFood & Beverage8.3%43.5293,15919.2%yesA-Targets Set: 1.5°C
Saint-GobainFranceConstruction8.2%251.310,700,00032.3%yesA-Targets Set: Well-below 2°C
MarshallsUKConstruction8.1%82.252,5770.7%noBTargets Set: Well-below 2°C
MapfreSpainInsurance8.0%0.925,97628.9%yesB
AptivUKAutomobiles8.0%28.3363,94844.2%yesNot requestedCommitted
Chr HansenDenmarkFood & Beverage7.9%42.649,439-1.5%yesBCommitted
Rolls-Royce [g]UKAerospace & Defence7.9%29.9586,13820.1%noNot scored (F)Committed
UBS GroupSwitzerlandFinancial Services7.9%3.384,03447.4%yesA
AG BarrUKFood & Beverage7.8%37.011,18634.7%noB
Royal BAM GroupNetherlandsConstruction7.8%21.6155,69834.3%yesATargets Set: 2°C
Ista InternationalGermanyEnergy7.7%10.19,16222.2%yesNot requested
VolkswagenGermanyAutomobiles7.6%30.07,570,00016.1%yesA-Targets Set: Well-below 2°C
Ardagh GroupIrelandIndustrial Goods7.6%643.53,821,9854.4%yesA-Committed
Swiss LifeSwitzerlandFinancial Services7.6%0.511,40420.1%yesB
RichemontSwitzerlandFashion7.6%5.170,7009.5%yesA-
OTEGreeceTelecoms7.5%31.2121,90032.6%yesB
BolidenSwedenPrecious metals7.5%192.9917,0008.4%noNot scored (F)
Piraeus BankGreeceFinancial Services7.5%17.237,29041.7%yesACommitted
SolarDenmarkSupport Services7.5%5.78,95622.9%noB-
Crédit CoopératifFranceFinancial Services7.5%1.374639.5%yesNot requested
Go-AheadUKTransport7.5%184.7801,70022.5%yesA-
SKFSwedenIndustrial Goods7.5%50.9417,10817.7%yesA-
JungheinrichGermanyIndustrial Goods7.4%15.764,025-10.8%noNot scored (F)
BunzlUKRetail7.4%11.7128,757-3.1%noB
ThyssenkruppGermanyIndustrial Goods7.4%556.223,100,00031.5%yesATargets Set: Well-below 2°C
Derwent LondonUKProperty7.4%27.87,57412.9%yesBTargets Set: Well-below 2°C
EptaItalyIndustrial Goods7.2%17.316,4670.2%yesNot requested
Spirax-Sarco EngineeringUKIndustrial Goods7.2%29.643,375-26.0%noB
ChubbSwitzerlandInsurance7.2%1.968,852-18.3%yesNot requested
Fiat Chrysler Automobiles (FCA)NetherlandsAutomobiles7.1%31.63,417,47020.2%yesA-
PeabSwedenConstruction7.1%20.4104,78014.2%yesB
STMicroelectronicsSwitzerlandTechnology7.0%147.71,258,77710.3%yesATargets Set: 1.5°C
Royal Mail GroupUKSupport Services6.9%43.1552,30018.8%yesB
LegrandFranceTechnology6.9%25.4168,000-3.1%noBTargets Set: 2°C
Landis+GyrSwitzerlandEnergy6.9%14.221,47922.1%yesNot scored (F)
TÜV RheinlandGermanySupport Services6.9%42.488,40015.6%yesNot requested
GerresheimerGermanyPharmaceuticals6.8%390.5543,64619.2%yesB
Metinvest TrametalItalyIndustrial Goods6.8%128.866,7109.6%noNot requested
StrabagAustriaConstruction6.7%64.51,011,20311.3%noNot scored (F)
Slovenské elektrárneSlovakiaEnergy6.6%744.91,825,00925.6%yesNot requested
L&TFinlandSupport Services6.6%57.945,40012.7%yesA-Targets Set: Well-below 2°C
AO FoundationSwitzerlandHealth6.5%1.312711.2%yesNot requested
Infineon TechnologiesGermanyTechnology6.5%115.7928,973-32.9%yesB
Crest NicholsonUKConstruction6.5%6.27,892-22.1%yesA-
Huber+SuhnerSwitzerlandTelecoms6.5%18.614,25820.6%yesA-Targets Set: 1.5°C
DOFNorwayTransport6.4%631.9482,57623.5%noA-
MobimoSwitzerlandProperty6.3%5.311,25115.1%noB
National ExpressUKTransport6.3%269.5873,520-6.3%yesB
AtosFranceTechnology6.2%9.0104,48534.8%yesATargets Set: 1.5°C
NestléSwitzerlandFood & Beverage6.1%65.75,600,00026.4%noA-Targets Set: 1.5°C
VoithGermanyIndustrial Goods6.1%31.3133,73125.2%yesB
Franke GroupSwitzerlandInteriors6.1%25.950,45127.6%noNot requested
BNP ParibasFranceFinancial Services6.1%7.7341,97616.8%yesA-Committed
HochtiefGermanyConstruction6.1%117.43,034,74014.5%yesB
KärcherGermanyPersonal & Household Goods6.1%12.933,11811.1%yesNot requested
Stora EnsoFinlandIndustrial Goods6.0%302.33,040,00027.6%yesA-Targets Set: 2°C
VesuviusUKChemicals6.0%210.4425,00012.9%noNot requested
AteaNorwayTechnology5.9%2.59,250-9.9%yesB-Targets Set: Well-below 2°C
AstraZenecaUKPharmaceuticals5.9%19.3419,76932.2%yesATargets Set: 1.5°C
MondiUKIndustrial Goods5.9%651.44,734,57016.2%yesATargets Set: 2°C
CNH IndustrialNetherlandsIndustrial Goods5.9%13.1327,98136.3%noA
ProximusBelgiumTelecoms5.8%6.536,90031.2%yesATargets Set: Well-below 2°C
BloomsburyUKMedia5.8%2.5480-8.6%noNot scored (F)
Vectura GroupUKPharmaceuticals5.8%18.73,935-128.6%noNot scored (F)
RenaultFranceAutomobiles5.7%21.81,212,351-0.7%yesA-
Pernod RicardFranceFood & Beverage5.6%32.4297,52913.3%yesBTargets Set: Well-below 2°C
Millennium BCPPortugalFinancial Services5.5%21.249,44423.2%yesA-
LanxessGermanyChemicals5.5%449.63,058,00036%yesA
KoneFinlandTransport5.5%14.2141,700-2.7%yesA
DanoneFranceFood & Beverage5.1%51.81,310,0007.9%yesATargets Set: 2°C
Imperial BrandsUKFood & Beverage5.0%6.9258,5897.8%noATargets Set: 2°C
Reckitt Benckiser GroupUKPersonal & Household Goods5.0%22.5342,019-12.6%noA-Targets Set: 1.5°C
KonecranesFinlandIndustrial Goods4.8%24.882,600-29.7%yesA-Committed
OttoGermanyRetail4.8%15.4205,8148.5%noNot requested
Vistry GroupUKConstruction4.7%4.76,245-9.7%noNot Scored
A2a ItalyEnergy4.7%963.57,056,566-15.4%yesA-Targets Set: 2°C
BouyguesFranceTelecoms4.7%64.52,448,00010.0%yesA-
AMGNetherlandsIndustrial Goods4.7%509.6540,16214.4%noNot scored (F)
Metsä BoardFinlandIndustrial Goods9.4%258.3499,01641.2%yesATargets Set: 1.5°C
VinciFranceConstruction4.7%48.72,338,9282.2%noA-
AllianzGermanyInsurance4.6%1.3184,5748.1%yesA-Committed
Knorr BremseGermanyTransport4.6%18.6129,000-5.3%noA-
Anheuser-Busch InBevBelgiumFood & Beverage4.5%114.95,360,00011.8%noA
Evonik IndustriesGermanyChemicals4.5%543.27,120,00019.5%noA-
JTISwitzerlandFood & Beverage4.4%33.1347,13916.3%yesNot requested

Footnotes

(1) Compound annual reduction rate (CARR) based on the sum of scope 1 and 2 emissions and adjusted by revenue growth between 2014-2019

(2) Calculated for 2019

(3) Absolute change in GHG emissions between 2014 and 2019. 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 — they can be reported on 15 levels and thus vary enormously, which is why absolute figures are omitted here

(5) CDP is the most prominent rating agency for emission reporting and reductions, set up as a non-profit organisation in 2000. Data is from March 2021

(6) SBTi is a partnership between CDP, UN Global Compact, World Resources Institute (WRI) and World Wide Fund (WWF) and helps companies set climate targets. Data is from March 2021


(a) Part of Swisscom Group, but with independent sustainability reporting

(b) Excluding GKN (2019)

(c) Excluding Tesa

(d) Part of Atlantia, ACS and Hochtief since October 2018, but with independent sustainability reporting

(e) Core emissions only for manufacturing

(f) For absolute reduction of GHG emissions, Johnson Controls generally refers to a baseline of 2017

(g) Data from 2014 excludes Power Systems

Methodology

Europe’s Climate Leaders is a list of 300 European companies that have achieved the greatest reduction in greenhouse gas (GHG) emissions intensity. 

Specifically, it aims to highlight the businesses whose GHG emissions intensity fell the most between 2014 and 2019. Emissions intensity is defined as tonnes of Scope 1 and Scope 2 emissions of CO2-equivalent per €1m in revenue. The 2014 and 2019 figures are used to calculate the compound annual rate of reduction, expressed as a percentage.

All European companies — defined as having headquarters in one of 33 European countries — with a minimum revenue of €40m or £36m in 2019 were eligible for consideration. For non-euro countries, the currency value equivalent as of 31/12/2019 was the threshold. Businesses had to be independent — they could not be a subsidiary of another company eligible for the list.

A call for entries in October 2020 invited prospective participants to fill out a short questionnaire about their GHG emissions between 2014 and 2019, and their revenue over the same period (or, for banks, the yield). Statista also conducted independent research, scrutinising data from about 4,000 companies and inviting possible candidates to register.

For businesses with a rating from the Carbon Disclosure Project (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 10m tonnes of CO2-equivalent, a CDP rating of A or B was mandatory.

All companies for which relevant data were found, both those that registered and those independently identified, were contacted so that they could review the data. Of those, the 300 with the greatest reduction in emissions intensity have made it into the final list of European Climate Leaders 2021.

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.

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