Dutch protesters call for action on climate change
Turning up the heat: Dutch protesters call for action on climate change © Remko de Waal/AFP/Getty

The second edition of the Financial Times-Statista list of Europe’s Climate Leaders appears at a time when companies are being pushed to raise their game even further on climate change.

How rapidly climate has moved up the corporate agenda was evident at November’s COP26 UN climate summit. “I’ve seen more CEOs here in the last eight days than I have at the previous eight years of COPs,” noted one conference regular. Meanwhile, financial groups made headlines by pledging to commit $130tn to efforts to hit net zero emissions targets.

But announcements like these are coming under ever closer scrutiny from climate experts, campaigners and regulators alike — who question the rigour not only of corporate climate targets but also of standard-setters such as the Science Based Targets initiative. That $130tn pledge, for example, drew criticism both for the way it was calculated and because many of the banks behind it continue to finance the fossil fuel industry.

This year’s FT-Statista Climate Leaders list attempts to reflect the tougher environment by tightening the rules for the biggest greenhouse gas emitters.

As in the inaugural edition, the companies listed below are those that achieved the greatest reduction in their Scope 1 and 2 greenhouse gas (GHG) emissions intensity over a five-year period — 2015-20 this time.

Scope 1 and 2 emissions — “core emissions” in the table — come respectively from a company’s own operations and from generating the energy it uses, while intensity is defined as tonnes of emissions of CO2-equivalent per €1mn of revenue.

However, for those businesses whose annual core emissions exceeded 2mn tonnes, a rating of at least A- from environmental performance monitor CDP was mandatory. The editors also reserved the right to exclude companies whose broader environmental record — on non-GHG pollution, for example, or deforestation — was sufficiently disputed to undermine any claim to be a “climate leader”.

With these strictures in place, only three metals and mining groups made the list on the basis of improvements to their core emissions — the lowest tally of companies for any sector. Financial services accounted for the largest number of companies, with 43, followed by energy and retail. The biggest cut in emissions intensity was achieved in the technology sector, by Switzerland’s Logitech.

Like last year, the UK was home to the largest number of companies on the list — 120 this time, comfortably ahead of Germany, with 52, and France, with 44.

While the methodology, detailed below the table, is straightforward, it also has limitations. Scope 3 emissions, which occur along the large stretches of the value chain not covered by Scopes 1 and 2, typically account for the bulk of a business’s emissions — yet they are not always disclosed, and, even when they are, metrics vary, with the upshot that they cannot be consistently factored in to an intensity calculation.

Because our intensity calculation is based on emissions relative to revenue, some rapidly growing companies on the list actually increased their absolute emissions over the five-year period.

Climate Capital

Where climate change meets business, markets and politics. Explore the FT’s coverage here.

Are you curious about the FT’s environmental sustainability commitments? Find out more about our science-based targets here

And this serves as a reminder that carbon accounting is one thing, but climate science another: more emissions simply means more global warming.

The companies in our Europe’s Climate Leaders listing may be moving in the right direction but there is still a lot of ground to cover.

A print and online report on Europe’s Climate Leaders will be published on May 5, containing articles analysing the issues that this research raises.

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

Europe’s Climate Leaders 2022
CompanyCountrySectorReduction of core emissions intensity (Scope 1 and 2) YoY 2015-20 [1]Core emissions intensity (GHGs in tonnes per €mn revenue) [2]Core emissions in tonnes (CO2 equivalent) [2]Total reduction of core emissions 2015-20 [3]Scope 3 emissions reported? [4]CDP rating [5]Participation in Science Based Targets initiative (SBTi) [6]
Logitech InternationalSwitzerlandTechnology & Electronics46.8%0.41,88988.9%yes-Committed
CAPItalyEnergy & Utilities45.2%14.23,36595.1%yes--
ICA GruppenSwedenRetail & Ecommerce42.4%1.519,39492.1%yesNot scored (F)Targets set, well below 2°C
RosenbergerGermanyTechnology & Electronics42.3%0.455489.6%no--
VaisalaFinlandTechnology & Electronics41.3%1.143191.7%yesB-
SEGROUKProperty39.5%7.23,48986.0%yesBTargets set, 1.5°C
Sopra SteriaFranceConsulting & Professional Services39.4%1.14,84272.9%yesATargets set, 1.5°C
GarriguesSpainConsulting & Professional Services37.2%0.932988.8%yes--
Akzo NobelNetherlandsChemicals & Materials36.5%26.4225,36094.1%yesNot scored (F)Targets set, 1.5°C
Intermediate Capital GroupUKFinancial Services36.4%0.219580.8%yesBTargets set, 1.5°C
ReachUKMedia35.7%5.93,97788.8%yesB--
Just GroupUKFinancial Services34.8%0.122277.0%yesNot scored (F)-
ZalandoGermanyRetail & Ecommerce33.4%1.29,31664.5%yesA-Targets set, 1.5°C
Porsche [a]GermanyAutomobiles & Components32.3%0.926,97181.0%yes--
EsprinetItalyTechnology & Electronics32.2%0.290276.1%yes--
BloomsburyUKMedia31.8%0.714677.9%yesNot scoredTargets set, 1.5°C
Indra SistemasSpainTechnology & Electronics31.8%1.54,68784.2%yesA-Targets set, 1.5°C
Vattenfall GroupSwedenEnergy & Utilities31.5%777.912,300,00085.5%yesA-Targets set, 1.5°C
EuskaltelSpainTelecommunications30.9%6.64,49767.9%yesB-
NCCSwedenConstruction & Building Materials30.6%34.5185,00026.3%noB-
Fastweb [b]ItalyTelecommunications30.6%1.33,02678.6%yes-Targets set, 1.5°C
KlépierreFranceProperty30.5%16.020,88383.6%yesATargets set, 1.5°C
KeringFranceApparel & Luxury Goods30.1%2.025,52781.2%yesATargets set, 1.5°C
Drax GroupUKEnergy & Utilities30.1%647.53,080,00076.9%yesA-Committed
DecathlonFranceApparel & Luxury Goods30.0%14.6166,39710.7%yesA-Targets set, 1.5°C
FortumFinlandEnergy & Utilities29.8%938.249,608,600-157.2%yesA--
Tokmanni GroupFinlandRetail & Ecommerce29.7%5.35,71175.7%yesBTargets set, 1.5°C
NatWest GroupUKFinancial Services29.6%9.3112,05469.0%yesBCommitted
Altarea CogedimFranceProperty29.6%0.61,74256.5%yes--
Greene KingUKTravel & Leisure29.3%29.663,74674.2%no--
Legal and General Investment ManagementUKFinancial Services29.2%0.635,48229.6%yesBCommitted
EricssonSwedenTelecommunications29.1%4.9114,00083.1%yesBTargets set, 1.5°C
EndesaSpainEnergy & Utilities29.1%3,772.410,811,72069.0%yesA--
Swiss ReSwitzerlandInsurance28.9%0.13,67173.8%yesBCommitted
RichemontSwitzerlandApparel & Luxury Goods28.8%1.216,70076.5%yesATargets set, 1.5°C
SchibstedNorwayMedia28.7%0.671384.2%yesB-
VallourecFranceMachines & Industrial Equipment28.5%39.2127,13784.0%yesATargets set, well below 2°C
CurrysUKRetail & Ecommerce28.3%3.135,32079.2%yesATargets set, 1.5°C
Valamar RivieraCroatiaTravel & Leisure28.1%22.22,05789.9%no--
LandsecUKProperty27.4%24.311,27377.0%yesATargets set, 1.5°C
De La RueUKFinancial Services27.4%29.613,16483.0%yesBCommitted
CastellumSwedenProperty27.0%7.24,27562.4%yesA-Targets set, 1.5°C
Oriflame CosmeticsSwedenPersonal & Household Goods26.9%4.55,14380.1%yesBTargets set, 1.5°C
N Brown GroupUKRetail & Ecommerce26.6%2.42,27079.0%yesB-
Wüstenrot & WürttembergischeGermanyFinancial Services26.5%0.62,56376.1%yesNot scored (F)-
Credit SuisseSwitzerlandFinancial Services26.4%1.125,82079.7%yesBCommitted
AccionaSpainConstruction & Building Materials26.0%20.6133,00078.0%yesATargets set, 1.5°C
Thule GroupSwedenPersonal & Household Goods25.7%3.42,65766.8%yesBTargets set, 1.5°C
Wihlborgs FastigheterSwedenProperty25.4%10.13,07963.6%yesBTargets set, 1.5°C
Groupe M6FranceMedia25.2%0.339776.1%noNot scored (F)-
ABN AMRO BankNetherlandsFinancial Services25.0%1.69,38077.1%yesBCommitted
Johnson Controls [c]IrelandTechnology & Electronics24.9%42.6779,16768.9%yesBTargets set, 1.5°C
INGNetherlandsFinancial Services24.9%0.916,00075.0%yesNot scored (F)Committed
WorldlineFranceFinancial Services24.6%1.74,72145.5%yesATargets set, 1.5°C
BankinterSpainFinancial Services24.4%2.53,10464.5%yesB-
Unibail-Rodamco-WestfieldFranceProperty24.2%24.045,60371.9%yesATargets set, 1.5°C
SwedbankSwedenFinancial Services24.1%1.35,96370.5%yesBCommitted
C&C GroupIrelandFood, Beverage & Tobacco23.9%19.032,72936.0%yesBCommitted
PricewaterhouseCoopers (PWC)UKConsulting & Professional Services23.9%1.36,50463.7%yes-Targets set, 1.5°C
ItalgasItalyEnergy & Utilities23.9%129.9173,30068.1%yesA--
BolloréFranceTransport & Logistics23.8%13.4322,59642.9%yes--
SIGSwitzerlandMachines & Industrial Equipment23.8%13.227,68972.9%yesBTargets set, 1.5°C
AxerealFranceAgriculture23.8%18.6675,459-236.2%yes--
CeconomyGermanyRetail & Ecommerce23.5%3.879,60075.0%yesNot scored (F)-
VaudeGermanyRetail & Ecommerce23.4%1.718165.4%yes--
FerrexpoSwitzerlandMetals & Mining23.2%907.01,262,61452.8%noNot scored (F)-
CityconFinlandProperty22.7%67.419,90572.4%yesBTargets set, 1.5°C
Siemens Gamesa Renewable EnergySpainEnergy & Utilities22.5%2.927,91024.3%yesATargets set, 1.5°C
MedionGermanyTechnology & Electronics22.4%0.331680.2%noNot scored (F)-
Inmobiliaria ColonialSpainProperty22.0%14.54,92657.4%yesACommitted
Hrvatski TelekomCroatiaTelecommunications21.8%15.215,02768.5%no--
Hibernia REITIrelandProperty21.8%38.32,599-6.2%yesA--
Go-AheadUKTransport & Logistics21.7%84.7369,82264.2%yesA-Targets set, 1.5°C
Lloyds Banking GroupUKFinancial Services21.5%3.9126,89050.7%yesA--
Financière de l’OdetFranceTransport & Logistics21.5%15.6376,01933.4%yes--
PhilipsNetherlandsTechnology & Electronics21.4%1.835,00075.9%yesATargets set, 1.5°C
SchrodersUKFinancial Services21.4%0.92,59563.1%yesA-Targets set, 1.5°C
BBVASpainFinancial Services21.3%6.7113,05668.3%yesBCommitted
TescoUKRetail & Ecommerce21.2%16.41,066,76267.7%noBTargets set, 1.5°C
SThreeUKConsulting & Professional Services21.1%0.91,26556.8%yesB--
St. James’s PlaceUKFinancial Services21.0%0.22,18520.5%yesBCommitted
LandsvirkjunIcelandEnergy & Utilities20.5%47.816,45368.3%no--
Ernst & Young UK (EY)UKConsulting & Professional Services20.2%1.85,12458.6%yesBTargets set, 1.5°C
United UtilitiesUKEnergy & Utilities20.1%69.6141,08265.9%yesBTargets set, 1.5°C
WPPUKMedia20.0%3.951,96267.9%yesA-Targets set, 1.5°C
PrudentialUKInsurance19.8%1.148,84055.0%yesB-
AstraZenecaUKPharmaceuticals19.7%11.4248,00664.0%yesATargets set, 1.5°C
Husqvarna GroupSwedenPersonal & Household Goods19.7%15.464,22461.3%yesBTargets set, 1.5°C
Big Yellow GroupUKConsulting & Professional Services19.3%17.82,57147.6%yesBCommitted
Capital & Counties PropertiesUKProperty19.3%5.746978.3%noB-
WorkspaceUKProperty19.2%47.77,60651.7%yesA-Targets set, 1.5°C
Kindred GroupMaltaTravel & Leisure19.2%1.61,983-9.7%yesBCommitted
Mettler-ToledoSwitzerlandTechnology & Electronics19.2%10.526,44555.6%yesBCommitted
BAE SystemsUKAerospace & Defence18.8%22.6487,39759.5%yesB-Committed
Vestas Wind SystemsDenmarkEnergy & Utilities18.6%4.973,00037.1%yesA-Targets set, 1.5°C
HKScanFinlandFood, Beverage & Tobacco18.5%29.252,00066.7%no-Committed
SacyrSpainConstruction & Building Materials18.5%90.2410,09144.5%yesA-Targets set, 1.5°C
JMSwedenProperty18.3%2.74,43739.2%yesB-
SeverfieldUKConstruction & Building Materials18.1%19.37,86233.8%yesA-Committed
ContinentalGermanyAutomobiles & Components18.1%26.2990,00064.5%yesBTargets set, 1.5°C
Specialfastigheter SverigeSwedenProperty17.9%18.93,26253.9%yes-Targets set, 1.5°C
UCBBelgiumPharmaceuticals17.9%6.333,81448.5%yesBTargets set, well below 2°C
EngieFranceEnergy & Utilities17.9%734.040,919,64170.2%yesA-Targets set, 2°C
UBSSwitzerlandFinancial Services17.8%2.156,24660.2%yesA-
AO WorldUKRetail & Ecommerce17.8%19.135,587-31.1%no--
Caixa Geral de DepósitosPortugalFinancial Services17.7%9.211,06773.5%yesA-Committed
OMV PetromRomaniaEnergy & Utilities17.6%1,008.44,084,00066.8%yesA--
QinetiQ GroupUKAerospace & Defence17.5%29.635,58746.2%noNot scored (F)Committed
Gas Networks Ireland [d]IrelandEnergy & Utilities17.4%380.2170,03413.7%yesB-
Knorr BremseGermanyTransport & Logistics17.4%8.653,00059.4%noB-
CEWEGermanyRetail & Ecommerce17.4%9.36,77849.4%yesBTargets set, 1.5°C
adidasGermanyApparel & Luxury Goods17.4%1.426,75654.8%yesBTargets set, 1.5°C
DNBNorwayFinancial Services17.3%0.93,44057.7%yesA--
KeskoFinlandRetail & Ecommerce17.3%7.789,01252.6%yesACommitted
Beiersdorf [e]GermanyPersonal & Household Goods17.2%7.140,15759.9%yesA-Targets set, 1.5°C
Close BrothersUKFinancial Services17.1%3.53,41350.7%yesB--
Royal & Sun Alliance InsuranceUKInsurance17.0%1.18,68451.9%yesA--
BATUKFood, Beverage & Tobacco16.9%18.7541,00022.1%noA-Targets set, 2°C
Network RailUKTransport & Logistics16.9%17.5188,52837.4%no-Targets set, 1.5°C
Slovenské elektrárne [f]SlovakiaEnergy & Utilities16.7%450.91,296,71948.9%no--
Elia System OperatorBelgiumEnergy & Utilities16.7%134.3115,25559.5%no-Committed
ElisaFinlandTelecommunications16.6%1.22,32851.3%yesBTargets set, 1.5°C
Mitie GroupUKConsulting & Professional Services16.6%6.719,20553.7%noA-Committed
FirmenichSwitzerlandFood, Beverage & Tobacco16.5%22.580,44844.9%yesATargets set, 1.5°C
Coca-Cola Europacific PartnersUKFood, Beverage & Tobacco16.5%19.0201,73432.0%yesATargets set, 1.5°C
Beazley Ireland Holdings PlcIrelandInsurance16.4%0.487933.6%yes--
BAWAG GroupAustriaFinancial Services16.4%3.22,88361.5%yesNot scored (F)-
The Co-operative GroupUKRetail & Ecommerce16.3%27.2349,00049.3%no-Targets set, 1.5°C
Paragon Banking GroupUKFinancial Services16.3%5.11,58442.1%no--
Pets at Home GroupUKRetail & Ecommerce16.2%19.524,95339.4%yesBCommitted
BayerGermanyPharmaceuticals16.2%86.53,580,00063.1%yesATargets set, 1.5°C
McColl’s Retail GroupUKRetail & Ecommerce16.2%23.433,00544.3%no--
AltanaGermanyChemicals & Materials16.2%42.592,55356.2%no--
DNVNorwayConsulting & Professional Services16.2%5.210,40063.0%yes-Committed
Audi [g]GermanyAutomobiles & Components16.1%4.6231,33364.5%no--
BarcoBelgiumTechnology & Electronics16.1%4.43,36068.9%yesBTargets set, 1.5°C
IberdrolaSpainEnergy & Utilities16.1%433.215,138,05053.7%yesATargets set, 1.5°C
Millennium bcpPortugalFinancial Services16.1%20.130,76146.4%yesB-
OrionFinlandPharmaceuticals15.7%17.318,61154.9%noB-
GSKUKPharmaceuticals15.7%26.21,001,00039.3%noA-Targets set, 1.5°C
Daily Mail & General TrustUKMedia15.7%6.96,70079.9%yes--
VerbundAustriaEnergy & Utilities15.5%295.6956,00053.1%yesA-Committed
Franke GroupSwitzerlandConstruction & Building Materials15.5%17.741,70549.9%no--
AccentureIrelandConsulting & Professional Services15.2%4.3176,92832.9%yesA-Targets set, 1.5°C
AXAFranceInsurance15.2%0.767,18656.6%yesA-Committed
KingfisherUKRetail & Ecommerce15.1%14.9205,76747.7%yesA-Targets set, 1.5°C
UponorFinlandConstruction & Building Materials15.0%18.621,10052.2%no-Committed
ASR NederlandNetherlandsInsurance15.0%0.21,15853.9%yesB-
ZurichSwitzerlandInsurance15.0%0.627,71556.6%yesA-Committed
B&M European Value RetailLuxembourgRetail & Ecommerce14.9%21.8117,465-5.2%noNot scoredCommitted
Munich ReGermanyInsurance14.9%1.266,39551.4%yesB-
ABANCASpainFinancial Services14.8%4.62,94365.8%yesNot scored (F)-
SyngentaSwitzerlandChemicals & Materials14.7%68.1797,00052.0%yesA-Targets set, well below 2°C
Ocado GroupUKRetail & Ecommerce14.6%33.687,7674.3%noB-
Provident FinancialUKFinancial Services14.6%1.71,52167.0%yesB-Committed
JD Sports FashionUKApparel & Luxury Goods14.6%12.182,576-82.5%yesA-Committed
Deutsche TelekomGermanyTelecommunications14.6%24.92,511,86833.6%yesATargets set, 1.5°C
SiemensGermanyTechnology & Electronics14.5%12.3701,00065.4%yesA-Targets set, 1.5°C
Alfa LavalSwedenMachines & Industrial Equipment14.4%9.840,53552.0%yesB-
EnelItalyEnergy & Utilities14.4%732.347,585,00060.4%yesATargets set, 1.5°C
Unilever [h]UKPersonal & Household Goods14.3%15.4778,67756.0%yes-Targets set, 1.5°C
AlkermeIrelandPharmaceuticals14.3%42.336,00023.6%noNot scored (F)-
H&M GroupSwedenApparel & Luxury Goods14.3%3.972,58052.2%yesBTargets set, well below 2°C
BMWGermanyAutomobiles & Components14.2%7.4727,14250.2%yesA-Targets set, 1.5°C
AtosFranceConsulting & Professional Services14.2%5.763,24561.5%yesATargets set, 1.5°C
RELXUKMedia14.1%7.257,64744.2%yesA--
Crédit CoopératifFranceFinancial Services14.1%1.656759.0%yes--
Morgan Sindall GroupUKConstruction & Building Materials14.1%5.518,82040.4%yesATargets set, 2°C
L’OréalFrancePersonal & Household Goods13.7%2.055,77846.9%yesATargets set, 1.5°C
TÜV Rheinland [i]GermanyConsulting & Professional Services13.6%27.253,10049.9%no--
HalmaUKTechnology & Electronics13.5%10.215,04221.0%yesB-
ITVUKMedia13.5%4.012,44660.1%yesA-Targets set, 1.5°C
Swiss LifeSwitzerlandInsurance13.3%0.36,69448.3%yesB--
Metso Outotec [j]FinlandMachines & Industrial Equipment13.3%15.451,09763.3%yes-Targets set, 1.5°C
Publicis GroupeFranceMedia13.2%4.947,67750.2%yesBTargets set, 1.5°C
IcadeFranceProperty13.2%4.97,03150.7%yesA--
Galliford TryUKConstruction & Building Materials13.2%6.37,88576.3%yesNot scored (F)Committed
Balfour BeattyUKConstruction & Building Materials13.1%21.3205,51733.5%noBCommitted
Groupe BPCEFranceFinancial Services13.1%1.737,51153.1%yesA--
Vodafone GroupUKTelecommunications13.0%31.31,370,00046.7%yesA-Targets set, 1.5°C
EDFFranceEnergy & Utilities12.9%405.828,011,77054.0%yesATargets set, well below 2°C
CentricaUKEnergy & Utilities12.9%70.31,925,74856.1%yesA-Committed
MapfreSpainInsurance12.9%0.819,59852.1%yesB-
ChubbSwitzerlandInsurance12.7%1.851,7014.0%noB-
RocheSwitzerlandPharmaceuticals12.7%6.8445,81836.5%yesNot scored (F)-
ExperianIrelandConsulting & Professional Services12.6%5.925,10045.1%yesBTargets set, 1.5°C
NATSUKTransport & Logistics12.6%16.216,20650.6%yesA-Committed
PumaGermanyApparel & Luxury Goods12.5%6.534,01820.7%yesA-Targets set, well below 2°C
Groupe TF1FranceMedia12.5%0.81,59846.6%yesA--
ABBSwitzerlandTechnology & Electronics12.4%26.3562,00062.0%yesBTargets set, 1.5°C
British LandUKProperty12.4%36.419,09859.1%yesA-Targets set, 1.5°C
Piraeus BankGreeceFinancial Services12.4%15.529,29947.9%yes--
PostNLNetherlandsTransport & Logistics12.3%12.340,00051.2%yesATargets set, 1.5°C
Signify [k]NetherlandsTechnology & Electronics12.3%24.9162,00054.8%yesATargets set, 1.5°C
Red Eléctrica CorpSpainEnergy & Utilities12.3%315.4626,38146.7%yesA-Targets set, 2°C
InformaUKMedia12.0%3.25,97427.7%noA-Targets set, 1.5°C
Anglian Water GroupUKEnergy & Utilities11.9%172.5268,83437.9%yes--
GivaudanSwitzerlandFood, Beverage & Tobacco11.9%27.4187,78223.7%yesATargets set, 1.5°C
BritvicUKFood, Beverage & Tobacco11.8%25.940,95242.0%yesBTargets set, 1.5°C
STMicroelectronicsSwitzerlandTechnology & Electronics11.7%125.51,050,00020.6%yesA-Targets set, 1.5°C
G4SUKConsulting & Professional Services11.6%27.5214,81441.2%yesB--
A2AItalyEnergy & Utilities11.4%854.35,862,35024.0%yesA-Targets set, 2°C
Direct Line Insurance GroupUKInsurance11.4%3.412,13746.3%yesB-Committed
SantanderSpainFinancial Services11.3%3.5153,45146.2%yesA--
Greggs PlcUKFood, Beverage & Tobacco11.1%74.367,51346.1%noB--
AmadeusSpainTechnology & Electronics11.1%6.915,06855.9%yesB-
Burberry GroupUKApparel & Luxury Goods11.1%8.722,73746.9%noA-Committed
istaGermanyEnergy & Utilities11.1%8.27,65035.9%yes--
Deka GroupGermanyFinancial Services11.0%29.34,58954.4%yes--
Georg FischerSwitzerlandMachines & Industrial Equipment10.9%82.4284,00050.8%yesA-Committed
Telefónica [l]SpainTelecommunications10.8%18.6675,45962.7%yesATargets set, 1.5°C
Reckitt Benckiser GroupUKPersonal & Household Goods10.8%16.7261,81411.0%noA-Targets set, 1.5°C
Tesa [m]GermanyChemicals & Materials10.7%36.554,14034.0%no--
Banco BPMItalyFinancial Services10.7%5.714,795-17.2%noB-
HandelsbankenSwedenFinancial Services10.6%1.14,71437.4%yesBCommitted
PSP Swiss PropertySwitzerlandProperty10.5%20.09,22623.4%yesA--
Western Power DistributionUKEnergy & Utilities10.5%33.963,49535.2%yes-Targets set, 1.5°C
Travis PerkinsUKRetail & Ecommerce10.5%17.7121,85440.4%noBTargets set, 1.5°C
LookersUKRetail & Ecommerce10.4%10.744,24441.5%noNot scored (F)-
OrklaNorwayFood, Beverage & Tobacco10.4%26.8120,61018.2%noA-Targets set, 1.5°C
Sainsbury’sUKRetail & Ecommerce10.4%22.6818,16127.7%noATargets set, 1.5°C
Posten NorgeNorwayTransport & Logistics10.3%34.679,18244.5%yes-Targets set, 1.5°C
Dassault AviationFranceAerospace & Defence10.3%13.778,45320.2%noNot scored (F)-
ERGO Group [n]GermanyInsurance10.2%2.950,59237.8%yes--
Landis+GyrSwitzerlandEnergy & Utilities10.2%11.813,10749.6%yesNot scored (F)-
Jerónimo MartinsPortugalRetail & Ecommerce10.1%46.3892,24417.5%yesACommitted
Spirent CommunicationsUKTelecommunications10.0%10.64,52035.5%noA--
SchaefflerGermanyAutomobiles & Components10.0%59.9754,65643.6%yesA--
ReweGermanyRetail & Ecommerce10.0%20.41,389,79121.8%yes--
Freshfields Bruckhaus DeringerUKConsulting & Professional Services10.0%5.610,01529.1%yes-Committed
Chr HansenDenmarkFood, Beverage & Tobacco9.8%31.834,20325.3%yesB-Targets set, 1.5°C
InterserohGermanyEnergy & Utilities9.8%34.524,31210.5%yes--
ProximusBelgiumTelecommunications9.8%5.027,40045.5%yesA-Targets set, well below 2°C
BunzlUKRetail & Ecommerce9.8%10.4117,9896.7%noB-Committed
DCCIrelandRetail & Ecommerce9.7%6.191,00024.2%noB-
DignityUKConsulting & Professional Services9.7%39.315,76329.8%noB--
IHG Hotels & ResortsUKTravel & Leisure9.6%955.01,871,90419.8%yesA-Targets set, 1.5°C
Ashtead GroupUKMachines & Industrial Equipment9.6%58.7332,527-49.7%noB--
Acciona EnergíaSpainEnergy & Utilities9.6%11.025,63335.3%yes-Targets set, 1.5°C
Volvo GroupSwedenAutomobiles & Components9.6%8.0270,00034.5%noNot scored (F)Targets set, 1.5°C
SavillsUKProperty9.5%3.77,16917.7%noNot scored (F)-
WebuildItalyConstruction & Building Materials9.5%72.0361,50635.5%yesBCommitted
SalMar [o]NorwayAgriculture9.4%13.216,307-7.4%yesBCommitted
WetherspoonUKTravel & Leisure9.4%80.1113,30949.1%noNot scored (F)-
Unipol GruppoItalyInsurance9.4%3.137,82928.4%noB-
Atlas CopcoSwedenMachines & Industrial Equipment9.4%7.677,00038.9%yesBTargets set, 1.5°C
EpirocSwedenMachines & Industrial Equipment9.4%7.527,00022.9%yesA-Targets set, 1.5°C
RotorkUKMachines & Industrial Equipment9.2%12.68,50331.8%yesB--
SAPGermanyTechnology & Electronics9.2%4.8131,55318.9%yesATargets set, 1.5°C
LVMHFranceApparel & Luxury Goods9.2%5.2231,32922.5%yesA-Targets set, 1.5°C
AllianzGermanyInsurance9.1%1.6129,43633.0%yesBCommitted
SGSSwitzerlandConsulting & Professional Services9.1%18.2110,13837.1%yesA-Targets set, 2°C
ID LogisticsFranceTransport & Logistics9.1%70.5115,848-97.5%yes--
Groupe SEBFrancePersonal & Household Goods9.0%31.3217,3159.4%yes-Targets set, well below 2°C
Feralpi HoldingItalyConstruction & Building Materials9.0%760.5941,743-23.4%yes--
Cnim GroupeFranceMachines & Industrial Equipment9.0%755.8478,327-2.8%yes--
Rothschild & CoFranceFinancial Services9.0%1.83,18629.2%yesB-
Barratt DevelopmentsUKConstruction & Building Materials8.9%5.320,46342.9%yesA-Targets set, 1.5°C
NovozymesDenmarkFood, Beverage & Tobacco8.8%124.3234,00036.9%yesA-Targets set, 1.5°C
MAN [p]GermanyAutomobiles & Components8.8%20.5221,99150.0%noA-Committed
Mercedes Cars & VansGermanyAutomobiles & Components8.7%11.41,122,00034.4%yesA-Targets set, 1.5°C
SiltronicGermanyTechnology & Electronics8.7%201.3242,93517.7%noBCommitted
MarshallsUKConstruction & Building Materials8.7%81.042,63722.7%noBTargets set, well below 2°C
Aldi NordGermanyRetail & Ecommerce8.6%18.7451,84029.1%noNot scored (F)Committed
GecinaFranceProperty8.5%21.814,31615.3%yesA-Targets set, well below 2°C
NexansFranceTechnology & Electronics8.3%38.9232,39137.9%yesA-Committed
TDC [q]DenmarkTelecommunications8.3%38.883,93645.3%yesBTargets set, 1.5°C
Serco GroupUKConsulting & Professional Services8.3%54.6237,75920.5%yesB-
BolidenSwedenMetals & Mining8.2%163.6917,0008.9%noNot scored (F)-
JT InternationalSwitzerlandFood, Beverage & Tobacco8.2%25.8307,65127.6%yes--
CarlsbergDenmarkFood, Beverage & Tobacco8.1%71.6563,00041.4%yesATargets set, 1.5°C
HiscoxUKInsurance8.1%0.82,03224.8%yesB--
CranswickUKFood, Beverage & Tobacco8.0%50.3106,922-17.0%noBTargets set, 1.5°C
Royal BAM GroupNetherlandsConstruction & Building Materials8.0%18.8128,03439.5%yesATargets set, 1.5°C
RPS GroupUKConsulting & Professional Services8.0%13.17,97336.9%yesB-Targets set, 1.5°C
BertelsmannGermanyMedia7.9%22.3385,30033.3%yesBTargets set, 1.5°C
MondiUKMachines & Industrial Equipment7.9%585.63,901,80930.9%yesATargets set, 2°C
SkanskaSwedenConstruction & Building Materials7.8%16.6264,59530.4%yesA-Targets set, 1.5°C
CNH IndustrialNetherlandsMachines & Industrial Equipment7.8%13.3283,96833.2%yesA-
Spire Healthcare GroupUKHealth Care & Medical Technology7.8%30.431,38530.7%noB-
Berkeley GroupUKProperty7.8%3.88,18939.5%yesA-Targets set, 1.5°C
DeutzGermanyAutomobiles & Components7.7%34.544,72430.5%noNot scored (F)-
memoGermanyRetail & Ecommerce7.7%2,565.173,759-0.1%yes--
SkyUKMedia7.6%3.556,45618.8%yes-Targets set, 1.5°C
Rolls-RoyceUKAerospace & Defence7.6%33.7444,03640.7%noNot scored (F)Committed
Marks and SpencerUKRetail & Ecommerce7.6%29.0298,00041.6%noBTargets set, well below 2°C
Coca-Cola HBCSwitzerlandFood, Beverage & Tobacco7.6%70.5432,00034.8%yesATargets set, 1.5°C
Royal Mail GroupUKTransport & Logistics7.5%40.8578,5007.6%yesB-
HaysUKConsulting & Professional Services7.5%1.812,092-4.4%yesB-
Taylor WimpeyUKConstruction & Building Materials7.5%5.918,50339.8%yesA-Targets set, 1.5°C
ThalesFranceAerospace & Defence7.4%11.5196,00017.9%yesA--
National ExpressUKTransport & Logistics7.4%265.5581,98530.6%yesB--
Trane TechnologiesIrelandMachines & Industrial Equipment7.4%40.5412,81437.6%yesBTargets set, 1.5°C
SanofiFrancePharmaceuticals7.3%21.4771,19427.5%yesATargets set, 1.5°C
RandstadNetherlandsConsulting & Professional Services7.2%3.163,95725.8%yesBCommitted
Imperial BrandsUKFood, Beverage & Tobacco7.1%6.8246,61610.9%noATargets set, 2°C
VictrexUKChemicals & Materials7.0%92.127,45329.9%yesB-Committed
LanxessGermanyChemicals & Materials7.0%415.02,533,00046.3%yesA-
Société GénéraleFranceFinancial Services7.0%6.3139,83740.1%yesBCommitted
LegrandFranceTechnology & Electronics6.9%24.3148,00011.4%yesBTargets set, 1.5°C
L&TFinlandConsulting & Professional Services6.9%47.235,50018.6%yesA-Targets set, well below 2°C
Great Portland EstatesUKProperty6.7%51.15,07051.4%yesBTargets set, 1.5°C
ValmetFinlandTechnology & Electronics6.7%21.379,7009.5%yesBTargets set, 1.5°C
PostNordSwedenTransport & Logistics6.7%27.3109,01829.0%yes-Targets set, well below 2°C
Spirax-Sarco EngineeringUKMachines & Industrial Equipment6.6%28.638,238-27.3%noA-Committed
SodexoFranceConsulting & Professional Services6.6%6.3121,47930.6%yesBTargets set, 1.5°C
GeberitSwitzerlandConstruction & Building Materials6.5%63.9206,65317.8%noB-
Deutsche BahnGermanyTransport & Logistics6.5%161.66,448,00029.5%yesATargets set, 2°C
Severn TrentUKEnergy & Utilities6.4%169.4346,88426.5%yesATargets set, 1.5°C
StrabagAustriaConstruction & Building Materials6.4%60.3888,81719.1%noNot scored (F)-
MTU Aero EnginesGermanyAerospace & Defence6.3%17.971,30035.4%yesB--
NestléSwitzerlandFood, Beverage & Tobacco6.3%56.05,113,79931.3%yesA--
Stora EnsoFinlandMachines & Industrial Equipment6.2%294.62,520,00038.2%yesA-Targets set, 1.5°C
IpsosFranceConsulting & Professional Services6.2%6.812,45625.3%yesB--
KärcherGermanyPersonal & Household Goods6.2%12.533,94311.1%yes--
IWB (Industrielle Werke Basel)SwitzerlandEnergy & Utilities6.2%763.5638,00017.3%no--
Kier GroupUKConstruction & Building Materials6.2%20.078,53639.5%noB-Committed
MieleGermanyPersonal & Household Goods6.1%12.154,2585.9%yes-Committed
Berner KantonalbankSwitzerlandFinancial Services6.1%1.147931.8%yesA--
DanoneFranceFood, Beverage & Tobacco6.1%48.61,147,00023.0%yesATargets set, 2°C
Weir GroupUKMachines & Industrial Equipment6.1%80.6177,442-39.0%noA-Committed
Basellandschaftliche Kantonalbank (BLKB)SwitzerlandFinancial Services6.0%1.350229.9%yes--
HelvetiaSwitzerlandInsurance6.0%0.77,07313.6%yesA--
SOL GroupItalyChemicals & Materials6.0%293.5292,367-8.5%yesNot scored (F)-
Amag Austria MetallAustriaMetals & Mining6.0%101.992,10027.3%yesNot scored (F)-
SwisscomSwitzerlandTelecommunications6.0%1.214,42030.1%yesA-Targets set, 1.5°C
Posti GroupFinlandTransport & Logistics5.9%44.571,70027.7%yes-Targets set, 1.5°C
VolkswagenGermanyAutomobiles & Components5.8%32.07,140,00022.5%yesA-Targets set, well below 2°C
JungheinrichGermanyMachines & Industrial Equipment5.8%13.852,647-2.8%noB-Committed
MMItalyConstruction & Building Materials5.7%187.150,17522.9%no--
Novartis [r]SwitzerlandPharmaceuticals5.7%18.0717,06726.6%yesBTargets set, 1.5°C
OP Financial GroupFinlandFinancial Services5.7%6.217,92223.6%yesA--
Rhön-KlinikumGermanyHealth Care & Medical Technology5.5%47.164,0197.7%noNot scored (F)-
Enexis HoldingNetherlandsEnergy & Utilities5.5%44.367,10015.7%yes--
Prysmian GroupItalyTechnology & Electronics5.5%73.5736,024-2.4%noBTargets set, 1.5°C
Mediclinic InternationalUKHealth Care & Medical Technology5.5%65.3225,759-10.4%yesB-
HuhtamäkiFinlandMachines & Industrial Equipment5.5%207.5685,0007.7%noBTargets set, well below 2°C
HenkelGermanyPersonal & Household Goods5.5%27.8536,00019.6%yesA-Targets set, 1.5°C
VontobelSwitzerlandFinancial Services5.4%0.81,1373.2%yesB-
Infineon TechnologiesGermanyTechnology & Electronics5.4%100.9864,748-12.0%yesB-
ElecnorSpainConstruction & Building Materials5.3%22.457,070-3.1%yesA-Committed
London Stock Exchange Group (LSEG)UKFinancial Services5.3%7.116,94929.1%yesA-Targets set, 1.5°C
RexelFranceRetail & Ecommerce5.3%6.987,06929.0%yesBTargets set, well below 2°C
SuvaSwitzerlandInsurance5.2%0.62,88022.0%yes--
Nokian TyresFinlandAutomobiles & Components5.2%69.591,31025.9%yesA-Targets set, well below 2°C
InditexSpainApparel & Luxury Goods5.1%23.8485,49624.8%yes-Targets set, 1.5°C
FlorentaiseFranceAgriculture5.1%140.86,828-11.2%yes--
SKFSwedenMachines & Industrial Equipment5.0%51.2381,79324.0%yesBCommitted
WienerbergerAustriaConstruction & Building Materials5.0%468.61,572,00012.6%noNot scored (F)-
GEA GroupGermanyMachines & Industrial Equipment4.9%14.064,68021.8%yesATargets set, 1.5°C
BonduelleFranceFood, Beverage & Tobacco4.9%73.0208,396-12.1%yesNot scored (F)-
RedrowUKConstruction & Building Materials4.9%6.814,680-9.4%noB-Committed
DürrGermanyMachines & Industrial Equipment4.9%12.942,75231.2%yes-Committed
CapitaUKConsulting & Professional Services4.9%12.747,33846.4%yesA-Targets set, 1.5°C
NextUKRetail & Ecommerce4.8%28.9106,17938.7%yesA-Targets set, 1.5°C
Manchester Airports GroupUKTransport & Logistics4.8%71.414,28681.1%yes--
Arla FoodsDenmarkFood, Beverage & Tobacco4.8%66.8711,00018.9%yes-Targets set, 1.5°C
Chocoladefabriken Lindt & SpruengliSwitzerlandFood, Beverage & Tobacco4.8%23.1101,00013.5%noB--
PlaytechUKTravel & Leisure4.8%8.69,316-34.2%noB-
Crest NicholsonUKConstruction & Building Materials4.7%6.24,73233.9%yesBCommitted
BTUKTelecommunications4.6%9.4240,531-0.7%yesATargets set, 1.5°C
PUIGSpainApparel & Luxury Goods4.6%1.31,61035.4%yesA-Targets set, 1.5°C
WHSmithUKRetail & Ecommerce4.5%23.627,03031.1%yesBCommitted
NRJ GroupFranceMedia4.5%10.53,41532.3%no--
WincantonUKTransport & Logistics4.5%240.1328,78915.2%noB-
Mediaset EspañaSpainMedia4.4%6.55,40511.9%yesB-
Standard CharteredUKFinancial Services4.4%20.9117,85841.6%yesBCommitted
Applus ServicesSpainConsulting & Professional Services4.3%36.356,48526.4%yesBCommitted
SOGINItalyEnergy & Utilities4.3%72.415,80828.0%no--
LogistaSpainTransport & Logistics4.3%3.435,94811.2%yes-Targets set, 2°C
Groupe RenaultFranceAutomobiles & Components4.2%21.9950,10422.8%noBTargets set, well below 2°C
GeodisFranceTransport & Logistics4.2%29.4247,2663.0%yes--
NesteFinlandChemicals & Materials4.2%245.52,885,00014.8%yesA--
KonecranesFinlandMachines & Industrial Equipment4.1%23.273,700-21.2%yesBTargets set, 1.5°C
KungsledenSwedenProperty4.1%62.415,53512.4%yesNot scored (F)Targets set, 1.5°C
SeniorUKMachines & Industrial Equipment4.1%58.448,00930.0%yesA-Targets set, 1.5°C
AgranaAustriaFood, Beverage & Tobacco4.1%288.5734,71716.4%no-Committed
PradaItalyApparel & Luxury Goods4.0%18.544,75444.4%noB-Targets set, 1.5°C
Beckers GroupSwedenConstruction & Building Materials4.0%36.721,3769.5%yes--
KRKASloveniaPharmaceuticals4.0%52.480,416-7.6%no--
SBBSwitzerlandTransport & Logistics4.0%8.078,30015.9%yes-Committed
SartoriusGermanyPharmaceuticals4.0%22.643,107-40.1%noB--
DOFNorwayTransport & Logistics3.9%781.3463,40226.0%noB-
Holcim GroupSwitzerlandConstruction & Building Materials3.9%4,669.6117,000,00035.4%yesATargets set, well below 2°C
KWS SaatGermanyAgriculture3.8%17.522,897-4.1%noNot scored (F)-
PiaggioItalyAutomobiles & Components3.8%39.151,32616.4%no--
SpectrisUKTechnology & Electronics3.8%28.843,1117.3%yesB-Targets set, 1.5°C
Raiffeisen GruppeSwitzerlandFinancial Services3.7%2.86,85412.5%yes--
SydbankDenmarkFinancial Services3.7%4.22,21227.9%yesNot scored (F)-
PSI SoftwareGermanyTechnology & Electronics3.7%3.8857-1.8%yesB--
HammersonUKProperty3.6%37.66,64058.9%yesNot scored (F)-
RockwoolDenmarkConstruction & Building Materials3.6%599.51,560,0001.9%yesA-Targets set, well below 2°C
SulzerSwitzerlandMachines & Industrial Equipment3.5%22.681,3396.7%yesNot scored (F)Committed
MondadoriItalyMedia3.5%7.85,82344.7%yesNot requested-
IGD SiiQItalyProperty3.5%191.927,937-0.6%no--
fenaco GenossenschaftSwitzerlandAgriculture3.5%8.260,2105.9%no--
Smith & NephewUKHealth Care & Medical Technology3.4%19.572,94517.3%noB--
Schindler GroupSwitzerlandMachines & Industrial Equipment3.4%15.0172,4744.7%yesBCommitted
Acea EnergiaItalyEnergy & Utilities3.4%197.0665,7752.3%yesA--
KoneFinlandMachines & Industrial Equipment3.4%13.6135,1003.1%yesACommitted
AMGNetherlandsMetals & Mining3.3%600.2460,48119.1%noB-

Footnotes

[1] Compound annual reduction rate (CARR) based on the sum of Scope 1 and 2 emissions and adjusted by revenue growth between 2015-2020

[2] Calculated for 2020

[3] Absolute change in GHG emissions between 2015 and 2020. 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


[a] Part of Volkswagen

[b] Part of Swisscom

[c] For absolute reduction of GHG emissions, Johnson Controls generally refers to a baseline of 2017

[d] Part of Ervia

[e] Excludes Tesa

[f] Indirect emissions (Scope 2 and 3) account for only 0.15 per cent of total emissions and thus are not reported separately

[g] Part of Volkswagen

[h] Core emissions only for manufacturing

[i] Scope 1 emissions include the operation of company cars

[j] On July 1 2020, Metso and Outotec merged to form Metso Outotec. Data from previous years thus represents the sum of both companies’ performance

[k] 2015 reporting refers to Philips Lighting

[l] Excludes operations in the UK

[m] Part of Beiersdorf

[n] Part of Munich Re

[o] Revenue refers to SalMar Group consolidated figures

[p] Part of Traton SE, CDP rating is for Volkswagen Group

[q] Consolidated data of TDC Net and Nuuday, of which TDC Holding A/S is the holding company

[r] Data for 2015 excludes Alcon

Methodology

Europe’s Climate Leaders 2022 is a list of just over 400 European companies that have achieved the greatest reduction in their greenhouse gas (GHG) emissions intensity.

Specifically, it aims to highlight the businesses whose GHG emissions intensity fell the most between 2015 and 2020. Emissions intensity is defined as tonnes of Scope 1 and Scope 2 emissions of CO2-equivalent per €1mn in revenue. The 2015 and 2020 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 €40mn or £36mn in 2020 were eligible for consideration. For non-euro countries, the currency value equivalent as of 31/12/2020 was the threshold.

A call for entries in October 2021 invited prospective participants to fill out a short questionnaire about their GHG emissions between 2015 and 2020, and their revenue over the same period (or, for banks and insurance companies, total income). Statista also conducted independent research, scrutinising data from about 4,000 companies and inviting possible candidates to register.

Although the call for entries stipulated that businesses had to be independent, this rule was relaxed to allow subsidiaries that report their emissions independently to be listed.

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 2mn tonnes of CO2-equivalent, a CDP rating of at least A- was mandatory.

The editors also reserved the right to exclude companies whose 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 were found — both those that registered and those independently identified — were contacted so that they could review the data. Of those, the 400 with the greatest reduction in emissions intensity have made it into the final list of European Climate Leaders 2022.

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 2022. All rights reserved.
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