Exame by Sofia Schuck - 11/27/2024
By Writing Team
Posted in November 27, 2024
The ranking highlights that businesses cannot thrive economically in an unhealthy environment (Galeanu Mihai/Getty Images).
Odontoprev, AES Brasil, and Arezzo&Co are featured in the new ranking that considers not only environmental, social, and governance (ESG) metrics but also financial performance.
Can a company be both sustainable and profitable? The answer is yes, and this new TIME Magazine Ranking aims to break the often mistaken notion held by executives. Beyond environmental, social, and governance (ESG) metrics, the list of 500 companies worldwide released this Wednesday (27) also considered financial performance — emphasizing that “no economy thrives in an unhealthy environment.”
In first and second place are two renewable energy giants: the Spanish Solaria Energía y Medio Ambiente and Grenergy Renovables, both leaders in solar photovoltaic generation. A total of 44 Brazilian companies were recognized, with three making the TOP 10: Odontoprev (6th), in health plans, AES Brasil (7th), in energy, and retailer Arezzo&Co (9th).
According to TIME, half of the awarded companies are not present in its other recent lists, such as the best companies or the world’s most sustainable companies. This includes tech giants like Apple, Amazon, and Microsoft, which either did not grow enough or lacked a significant environmental impact in the analysis period.
This time, only 117 of the 500 listed and 7 of the top 20 are based in the US. Moreover, mid-sized companies with annual revenues between $1 billion and $10 billion represent about 70% of the list. However, this does not exclude larger companies: Mastercard (10th), Visa (12th), BMW Group (253rd), and Coca-Cola (325th) also feature.
John Sterman, a professor at MIT’s Sloan School of Management, stated in the release that there is a widespread belief that it is not always possible to add value through green practices. “People are deeply entrenched in a trade-off mindset: growth versus green, jobs versus the environment. These are false dichotomies,” he emphasized.
Tensie Whelan, a professor at NYU Stern School for Business, added that more leaders are incorporating sustainability to help drive growth. “Time and again, we see enormous financial benefits.”
The methodology, developed in partnership with Statista, analyzed both revenue growth and profitability compared to industry peers, as well as the carbon footprint and Scope 1, 2, and 3 emissions of operations. Additionally, factors like low water consumption, waste production rates, and the use of renewable energy were evaluated.
Check out the recognized Brazilian companies:
6th — Odontoprev — Insurance, Health, and Social Services
7th — AES Brasil — Utilities
9th — Arezzo&Co — Apparel, Footwear, and Sporting Goods
17th — Grupo Fleury — Insurance, Health, and Social Services
22nd — PagBank — Banking and Financial Services
36th — Hypera — Chemicals, Pharmaceuticals, and Biotechnology
38th — BTG Pactual — Banking and Financial Services
48th — Lojas Renner S.A. — Apparel, Footwear, and Sporting Goods
60th — Localiza — Hospitality, Travel, and Leisure
70th — RaiaDrogasil — Retail, Wholesale, and Consumer Goods
77th — TIM Brasil — Telecommunications Services
83rd — Ambipar — Business Services and Supplies
93rd — Vivo (Telefônica Brasil) — Telecommunications Services
96th — Sendas Distribuidora — Retail, Wholesale, and Consumer Goods
116th — COPASA — Utilities
120th — Grupo EcoRodovias — Resource Generation and Infrastructure Sector
147th — Itaú Unibanco — Banking and Financial Services
154th — Banco PAN — Banking and Financial Services
158th — Grupo Vamos — Transportation, Logistics, and Aviation
170th — São Martinho — Food and Beverages
178th — Santos Brasil — Transportation, Logistics, and Aviation
195th — Banco do Brasil — Banking and Financial Services
199th — Raízen — Utilities
218th — Movida Aluguel de Carros — Hospitality, Travel, and Leisure
235th — Log-In Logística Integrada — Transportation, Logistics, and Aviation
236th — AgroGalaxy — Food and Beverages
242nd — M. Dias Branco — Food and Beverages
247th — Grupo SOMA — Apparel, Footwear, and Sporting Goods
276th — MRS Logística S.A. — Transportation, Logistics, and Aviation
302nd — Marfrig Global Foods — Food and Beverages
326th — MRS Logística S.A. — Transportation, Logistics, and Aviation
331st — Natura Cosméticos — Retail, Wholesale, and Consumer Goods
334th — ISA CTEEP — Utilities
347th — Grupo CCR — Transportation, Logistics, and Aviation
349th — JSL S.A. — Transportation, Logistics, and Aviation
373rd — Mitre Realty — Professional Services
409th — Arcos Dorados — Hospitality, Travel, and Leisure
420th — Rumo — Transportation, Logistics, and Aviation
423rd — Banco Bradesco — Banking and Financial Services
427th — CEMIG — Utilities
434th — Grupo Energisa — Utilities
449th — Santander Brasil — Banking and Financial Services
469th — Ambev — Food and Beverages
482nd — EZTEC — Resource Generation and Infrastructure Sector
