16 Companies With The Highest Sustainable Revenue in the US

Published on February 20, 2024 at 1:47 pm by Meerub Anjum in Business, Industries, Lists, News

In this article, we will look into the 16 companies with the highest sustainable revenue in the US. If you want to skip our detailed analysis, you can go directly to the 5 Companies With The Highest Sustainable Revenue in the US.

Global Green Economy

After a downturn in the global green economy in 2022, growth returned to its pace in 2023. The green revenues were affected by factors such as high inflation, rising interest rates, and geopolitical crises in 2022. The market capitalization of green companies returned to its 2021 average of more than 9% in 2023. The sustainable revenue of the listed companies is set to exceed $5 trillion by 2025, as reported by the FTSE Russel. With the continuous innovation and advancement toward a green economy, the growth is diversifying with sustainable companies gaining traction and higher investments. The average market cap of companies with 100% sustainable revenues reached more than $7 billion in June 2023, an increase of over 6-fold since 2016.

Sustainability Efforts by the US

The United States is actively making efforts toward clean technologies to cut down emissions from industries. On January 25, Reuters reported that the Biden administration has allocated $254 million to amplify the development and implementation of clean technologies in industrial sectors including steel, iron, and cement, as a part of its broader sustainability plan. This initiative by the administration highlights its commitment to promoting social and environmental responsibility in the country’s industrial sector, recognizing its high contribution to GHG emissions. The funding will be divided into two major areas and will be distributed through the Department of Energy. An amount of $171 million will be awarded to about 50 projects across 21 US states. The projects will focus on advancing decarbonization technologies. Academic institutes, companies, and nonprofit organizations will lead these projects. This will help tackle challenges including industrial decarbonization, hydrogen-fueled heating and power development, and decarbonizing critical chemicals.

The Department of Energy has initiated applications for an additional $83 million to target industrial sectors that are hard to decarbonize. This signifies the commitment of the US to recognize challenges faced by specific industries. The Secretary of Energy, Jennifer Granholm, highlighted that funding is crucial in lowering costs and enhancing energy efficiency in the US industrial sector. The initiative aims to attain environmental and economic benefits, promoting a greener and more sustainable future for the market and the country as a whole, by funding innovative technologies and supporting their adoption across industries.

Companies Driving the Sustainability Shift

Some of the key players driving the sustainability shift in the country include Tesla, Inc. (NASDAQ:TSLA), Clean Harbors, Inc. (NYSE:CLH), and Rivian Automotive, Inc. (NASDAQ:RIVN).

Tesla, Inc. (NASDAQ:TSLA) is leading the US market with its commitment to sustainability, evident through its focus on energy-efficient electric vehicles and manufacturing practices. In 2023, the company delivered more than 1.3 million electric vehicles, promoting sustainable and efficient transport. Its leading electric vehicle SUV, Model Y has the title of the most efficient electric SUV, boasting an efficiency of 4 miles per kWh. The company is continuously integrating ESG goals into its core strategies. These efforts are materializing in eco-friendly and energy-efficient factories. By the end of 2022, Tesla, Inc. (NASDAQ:TSLA) had installed 32,400 kW of solar power at its factories.

Clean Harbors, Inc. (NYSE:CLH) is a leading waste management and recycling company in the US, promoting circularity through its products and services. On February 6, the company announced that it had acquired HEPACO, a leading environmental and emergency response services provider in the US, for a transaction of $400 million. This strategic move by Clean Harbors, Inc. (NYSE:CLH) will expand its field services and emergency response capabilities. HEPACO is anticipated to generate $36 million in EBITDA on a revenue of $270 million in 2023. The deal is anticipated to be closed in the first half of 2024.

Rivian Automotive, Inc. (NASDAQ:RIVN) is a leading automotive technology and EV manufacturing company. On December 14, 2023, the company announced that it had partnered with AT&T Inc. (NYSE:T). The company has purchased Rivian Automotive, Inc.’s (NASDAQ:RIVN) Commercial Van and R1 to electrify its fleet. This strategic partnership aims to reduce emissions, enhance safety, and reduce costs for AT&T Inc. (NYSE:T). This alliance signifies Rivian Automotive, Inc.’s (NASDAQ:RIVN) commitment to sustainability and energy efficiency.

Now, let’s look at the 16 companies with the highest sustainable revenue in the US.

16 Companies With The Highest Sustainable Revenue in the US

Methodology

Sustainable revenue refers to the percentage of revenue earned from sustainable products and services. To compile our list of the companies with the highest sustainable revenue in the US, we consulted the Global 100 Report 2024 by Corporate Knights. Corporate Knights analyzed over 6,000 companies with a revenue of at least $1 billion for any fiscal year that ended between July 1st, 2022, and June 30th, 2023. The Global 100 report provides data for the sustainable revenue, sustainable investment, carbon productivity, and racial and gender diversity of the top 100 companies.

We utilized the sustainable revenue ratio, which is the ratio of sustainable revenue to the total revenue, and the USD Purchasing Power Parity (PPP) revenue of companies, sourced from Corporate Knights, to calculate the absolute sustainable revenue of the companies. Our list ranks companies with the highest sustainable revenue in ascending order of their absolute sustainable revenue, according to Corporate Knights.

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.

16 Companies With The Highest Sustainable Revenue in the US

16. Prologis, Inc. (NYSE:PLD)

Sustainable Revenue Ratio: 2.2%

USD PPP Revenue: $9.59 billion

Absolute Sustainable Revenue: $207.81 million

Prologis, Inc. (NYSE:PLD) is ranked among the companies with the highest sustainable revenue in the US. It specializes in logistics real estate, energy and sustainability, mobility, and warehouse solutions. Prologis, Inc. (NYSE:PLD) has a sustainable revenue of $207.81 million.

15. Rivian, Automotive Inc. (NASDAQ:RIVN)

Sustainable Revenue Ratio: 100%

USD PPP Revenue: $1.65 billion

Absolute Sustainable Revenue: $1.65 billion

The leading EV manufacturer, Rivian Automotive, Inc. (NASDAQ:RIVN) is ranked among the companies with the highest sustainable revenue in the US. The company has a 100% sustainable revenue of $1.65 billion.

14. SunPower Corporation (NASDAQ:SPWR)

Sustainable Revenue Ratio: 100%

USD PPP Revenue: $1.74 billion

Absolute Sustainable Revenue: $1.74 billion

SunPower Corporation (NASDAQ:SPWR) is ranked 14th on our list of the companies with the highest sustainable revenue in the US. The leading renewable energy company specializes in residential solar systems, photovoltaic solar systems, alternative energy, renewable energy, monitoring, and solar energy storage. SunPower Corporation (NASDAQ:SPWR) boasts a sustainable revenue of $1.74 billion.

13. Enphase Energy, Inc. (NASDAQ:ENPH)

Sustainable Revenue Ratio: 100%

USD PPP Revenue: $2.33 billion

Absolute Sustainable Revenue: $2.33 billion

Enphase Energy, Inc. (NASDAQ:ENPH) ranks 13th on our list of the highest sustainable revenue in the US, with a 100% sustainable revenue. It is an energy technology company, specializing in the development and manufacturing of battery energy storage, EV charging stations for residential customers, and micro-inverters. The company reports a sustainable revenue of $2.33 billion.

12. First Solar, Inc. (NASDAQ:FSLR)

Sustainable Revenue Ratio: 100%

USD PPP Revenue: $2.62 billion

Absolute Sustainable Revenue: $2.62 billion

First Solar Inc. (NASDAQ:FSLR) is ranked 12th on our list with a 100% sustainable revenue. It is a leading solar technology company in the US, specializing in the production of eco-efficient solar modules. First Solar Inc. (NASDAQ:FSLR) has an absolute sustainable revenue of $2.62 billion.

11. McCormick & Company, Incorporated (NYSE:MKC)

Sustainable Revenue Ratio: 46.3%

USD PPP Revenue: $6.35 billion

Absolute Sustainable Revenue: $2.93 billion

McCormick & Company, Incorporated (NYSE:MKC) is a leading spice and extract manufacturing company. The company has been in business for over 130 years. It is a leading manufacturer and distributor of spices, seasoning mixes, condiments, and other flavorful products. McCormick & Company, Incorporated’s (NYSE:MKC) sustainable revenue is 46.3% of its total revenue, according to Corporate Knights.

10. Radius Recycling, Inc. (NASDAQ:RDUS)

Sustainable Revenue Ratio: 95%

USD PPP Revenue: $3.48 billion

Absolute Sustainable Revenue: $3.31 billion

Radius Recycling, Inc. (NASDAQ:RDUS) is ranked among the companies with the highest sustainable revenue in the US. Founded in 1906, the company manufactures and recycles metal scraps. Radius Recycling, Inc. (NASDAQ:RDUS) boasts a sustainable revenue of $3.31 billion. The sustainable revenue generated by the company is 95% of its total revenue, according to Corporate Knights.

9. Equinix, Inc. (NASDAQ:EQIX)

Sustainable Revenue Ratio: 48.0%

USD PPP Revenue: $7.26 billion

Absolute Sustainable Revenue: $3.48 billion

Equinix, Inc. (NASDAQ:EQIX) is a major digital infrastructure company, specializing in business ecosystems, cloud services, data exchange and security, financial services, and international business exchange. Equinix, Inc. (NASDAQ:EQIX) reports a sustainable revenue of $3.48 billion.

8. Autodesk, Inc. (NASDAQ:ADSK)

Sustainable Revenue Ratio: 92.8%

USD PPP Revenue: $5.00 billion

Absolute Sustainable Revenue: $4.64 billion

Autodesk, Inc. (NASDAQ:ADSK) is a leading multinational software company, specializing in 3D design software, digital prototyping, media and entertainment, PLM, cloud, consumer software, and sustainable design software. Autodesk, Inc. (NASDAQ:ADSK) boasts a sustainable revenue of $4.64 billion.

7. Clean Harbors, Inc. (NYSE:CLH)

Sustainable Revenue Ratio: 100%

USD PPP Revenue: $5.16 billion

Absolute Sustainable Revenue: $5.16 billion

Clean Harbors, Inc. (NYSE:CLH) ranks 7th on our list, reporting a 100% sustainable revenue. The company is a leading waste management and recycling company in the US. Clean Harbors, Inc. (NYSE:CLH) has a sustainable revenue of $5.16 billion.

6. Xerox Holdings Corporation (NASDAQ:XRX)

Sustainable Revenue Ratio: 74.8%

USD PPP Revenue: $7.10 billion

Absolute Sustainable Revenue: $5.31 billion

Xerox Holdings Corporation (NASDAQ:XRX) is one of the top business consulting companies. It provides products and services including software, business services, workflow solutions, personalization, and digital printing solutions. The sustainable revenue of Xerox Holdings Corporation (NASDAQ:XRX) is $5.31 billion, according to Corporate Knights’ research. It is ranked 6th on our list of the companies with the highest sustainable revenue in the US.

Click to continue reading 5 Companies With The Highest Sustainable Revenue in the US.