Top 50 most innovative companies in sustainability

Boston Consulting Group (BCG) has produced a report on the importance of innovation for climate and sustainability in companies.

The climate and sustainability are two of the priorities for the current strategies of companies, according to a study by the consulting firm Boston Consulting Group (BCG) about innovation.

Nevertheless, only 1 in 5 companies is prepared to act in areas such as climate or sustainability, so it is necessary to incorporate these issues as a priority in their innovation drivers, have the appropriate skills and be prepared to develop innovations in products, processes and business models.

In the report titled Are you ready for green growth?, BCG has asked for the first time about the importance of innovation for climate and sustainability. This study shows that, although there are large companies that almost daily announce their commitments to reduce their CO2 emissions to zero, the gap between your commitment and your actual capabilities to achieve it is becoming a problem, but innovation is the solution to reduce it.

Innovation, necessary to achieve progress against climate change

Through BCG’s innovation assessment tool, this report measures and assesses the actions of each companyand reveals which are the most innovative companies and which are most committed to the environment.

Thus, the 28% get a score of 80 or higher (i2i’s perfect score is 100), which qualifies them as “prepared” and equipped with innovation capabilities well developed and worked. This indicates that almost three quarters of the companies committed to Climate and Sustainability still need to improve and that 80% of all companies face a steep learning curve.

Ramón Baeza, Managing Director and Senior Partner of BCGstates: “Companies are increasingly aware that the innovation is a boost so that its commitments to Climate and Sustainability materialize more effectively. At the same time, investors, regulators, customers and shareholders expect large companies and their CEOs to take the lead in achieving real progress against global warming«.

«The innovative European companies and in particular the Spanish ones stand out for their commitment to sustainability and there are many that are already taking measures to reduce emissions and eliminate them, “he adds.

These are the companies that are most committed to sustainability

Furthermore, the report notes that many of the 50 most innovative companies of 2022 list they are also leaders in innovation in Climate and Sustainability. In fact, a good number of them are among the first to adopt the environmental, social and governance (ESG) principles and establish commitments of decarbonization. Almost 80% (39 of them) are rated as the top innovators in Climate and Sustainability, based on global votes from their peers.

Among them, it stands out Manzana which, for the second consecutive year, occupies the first place in the ranking. microsoft move up two positions up to second place amazon move up one place to third Alphabet drops three places to fourth and Tesla maintains its fifth position. Samsung, Modern, Huawei, Sony and IBM They complete the top 10.

Four new companies enter the Top 50: ByteDance (no. 45), Nvidia (no. 15), panasonic (no. 46) and zalando (no. 25).

Also noted on this year’s list is a rebound in the automotive sectoras GM (no. 42) and Ford (#43) are back in the top 50, Tesla (#5) and Toyota (#21) hold their positions, and Mitsubishi It stands at No. 49.

As in the last five years of the ranking, more than half of the companies on this year’s list have their Headquartered in North America. But Asia-Pacific and China remain areas of growing innovation, with companies from those regions increasing their representation, from four and three companies in 2018 to eight and seven companies in 2022, respectively.

The sectors with the largest carbon emitters

The report reveals that sectors responsible for the largest emissions are those of durable goods (85%), automotive (78%), public services (77%) and Petroleum Y gas (77%).

Companies that already emit a lot of greenhouse gases (GHGs) are 20% more likely than those that emit little of focus on the technology solutions needed for decarbonization.

On the other hand, companies that have made Climate and Sustainability one of their strategic priorities place more emphasis on a number of aspects of their innovation models than other types of innovators. They are more ambitious, identify areas to focus on, better manage their priorities and have clear performance targets. Also engage more actively with their partners and even with its competitors.

Innovative companies have also seen a positive impact on productivity of their activities innovation and R&D. For example, 80% of the companies surveyed work remotely two or more days a week and 49% of Climate and Sustainability innovators say that the productivity of their innovation and R&D activities has improved by between 10% and 50% thanks to these new ways of working.

“According to the sustainability becomes a priority on boards of directors and boards of directors worldwide, the importance of innovation increases proportionally«, affirms Ramón Baeza.

“But innovation, whether in products, processes or business models, is not an isolated function and does not take place in a sealed laboratory. Progress depends on innovation being embedded throughout the organizationwith the same human and technological capabilities that drive success in other areas”, he concludes.

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