In this article, we take a look at the 5 most capitalist companies in the world. If you want to check out our detailed analysis of the impact of capitalism on the planet, go to 15 Most Capitalist Companies in the World.
5. Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD)
ESG Risk Score: 41.1
ESG-Risk: Severe
Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) is the holding company for Aerojet Rocketdyne, which manufactures propulsive systems for space, defense, commercial, as well as civil applications. In July, 2022, the company settled with the Justice Department and paid $9 million over allegations that it violated False Claims Act, by misrepresenting its compliance with cybersecurity mandates in a number of federal government contracts.
4. Chesapeake Energy Corporation (NASDAQ:CHK)
ESG Risk Score: 43.3
ESG-Risk: High
Chesapeake Energy Corporation is another energy company on our list of most capitalist companies in the world. It is based in Oklahoma city. Apart from having a sizable carbon footprint, the company has been involved in several controversies and lawsuits.
It has faced thousands of court cases due to “underpayment” of royalties to individuals that rented the company their land in Pennsylvania. It has settled with the plaintiffs for over $35 million as of 2017.
A subsidiary of the business was hit with a $3.2 million fine and ordered to pay $6.5 million in order to “repair 27 sites damaged by improper discharges of fill material into streams and wetlands” by the Environmental Protection Agency in 2013.
3. Citic Group Corporation
ESG Risk Score: 43.3
ESG-Risk: Severe
Citic Group Corporation is China’s biggest state-owned conglomerate. The corporation runs several companies in several sectors including real-estate, construction, food, press, and banking & finance. One of its most notable companies is the Citic Bank. Citic Group has one of the world’s worst ESG-risk scores, at 43.3. The conglomerate has been known for several controversies. Some have highlighted its poor state of corporate governance.
Most recently, Sun Deshun, the president of Citic Bank from 2016 to 2020, confessed in court to taking bribes worth $155 million during the 16 years of his career, which involved his time at Citic Bank as well.
2. Saudi Arabian Oil Company (SAUDI:2222.SR)
ESG Risk Score: 45.3
ESG-Risk: Severe
Saudi Arabian Oil Company, more commonly known as Saudi Aramco, is the biggest carbon emitting corporation in the world. Aramco doesn’t disclose its scope-3 emissions but according to Bloomberg estimates, it’s likely about 1.6 billion tonnes of CO2 equivalents for 2019. That would roughly be 4% of overall global greenhouse gas emissions. Its ESG risk score is 45.3, and falls in the ‘severe’ category.
1. Arch Resources, Inc. (NYSE:ARCH)
ESG-Risk Score: 55.9
ESG Risk: Severe
Arch Resources, Inc. (NYSE:ARCH) has the worst ESG-risk score of all the companies on the list of most capitalist countries in the world. Previously known as Arch Coal, Arch Resources is a US-based coal mining and processing corporation. The company practices mountaintop-removal mining, which is considered rather controversial because of the reduction in mountaintop heights.
The company was subject to a lawsuit in 2020 that alleged that it was violating the federal Clear Air Act in its Western Elk coal mine in Western Colorado, by failing to limit the emissions of volatile organic compounds and methane which was contributing to smog.
You can also take a peek at 5 Best Small Bank Stocks to Invest In and 5 Best Cloud Computing Stocks Heading into 2023.
