India is among the top 11 countries as seven of its companies are among a list of the 200 largest publicly traded entities that are making significant revenue from clean energy, an international report said on Tuesday.
India ranked fifth after China (68), the US (34), Japan (20) and Germany (nine).
South Korea, Canada, Sweden, Denmark, Ireland and the UK take the spot after India as per their ranking in the list of top 11 countries compiled by As You Sow and Corporate Knights.
While As You Sow is a non-profit organisation promoting environmental and social corporate responsibility, Corporate Knights is empowering people to harness markets for a better world.
They made public the 2017 Q3 Carbon Clean 200TM (Clean200TM), a list of the 200 largest publicly traded companies that are leading the way with solutions for the transition to a clean energy future.
The top 10 global companies making the list are Siemens, Toyota, Schneider Electric, ABB, Panasonic, Vestas, Bombardier, Innogyse, Johnson Controls and SSE.
The seven Indian companies are Suzlon Energy Ltd, Bharat Heavy Electricals, Tata Chemicals Ltd, Exide Industries Ltd, IDFC Ltd, Thermax Ltd and Havells India Ltd.
Suzlon Energy ranked 55th, while Bharat Heavy Electricals 85th, Tata Chemicals 144th, Exide Industries 155th, IDFC Ltd 167th, Thermax Ltd 169th and Havells India ranked the last among the 200 countries.
“After a divisive G20, we’re thrilled to see corporations around the world taking the initiative and making gains from clean energy,” Andrew Behar, CEO of As You Sow and report co-author, said.
“Regardless of politics, market forces driving the economic benefits of clean energy are clear and are far more powerful than a small group a backward looking men.”
The Clean200 ranks the largest publicly listed companies worldwide by their total clean energy revenues as rated by Bloomberg New Energy Finance.
In order to be eligible, a company must have a market capitalisation greater than $1 billion (end of Q3 2017) and earn over 10 per cent of total revenues from clean energy sources.
The list excludes oil and gas companies and utilities that generate less than 50 per cent of their power from renewable sources, as well as the top 100 coal companies measured by reserves.