As You Sow and Corporate Knights released the inaugural version of the Carbon Clean 200TM (Clean200TM), a list of 200 clean energy companies with a simulated annualized return of 21.82% over the past decade.
The list will be updated quarterly to serve as the inverse of the Carbon Underground 200TM, a list of
fossil fuel companies being targeted for divestment, which generated a 7.84% annualized return over
the same time period.
“The Clean200 nearly tripled the performance of its fossil fuel reserve-heavy counterpart over the past
ten years, showing that clean energy companies are providing concrete and measurable rewards to
investors,” said Toby Heaps, CEO of Corporate Knights and report co-author. “What’s more, the
outstanding performance of this list shows that the notion that investors must sacrifice returns when
investing in clean energy is outdated. Many clean energy investments are profitable now, and we
anticipate that over the long-term their appeal will only go up as technologies improve and more
investors move away from underperforming fossil fuel companies.”
The 21.82% return was due in large part to significant exposure to Chinese clean energy companies
which have experienced explosive growth. The returns of the Clean200 ex-China were lower, but still
superior to the S&P 1200 global benchmark and Carbon Underground 200.
The Clean200 ranks the largest publicly listed companies worldwide by their total clean energy revenues
as rated by Bloomberg New Energy Finance (BNEF). In order to be eligible, a company must have a
market capitalization greater than $1 billion (end of Q2 2016) and earn more than 10% of total revenues
from clean energy sources. Over 70 of the companies on the list receive a majority of their revenue from
clean energy. The list excludes all oil and gas companies and utilities that generate less than 50% of their
power from renewable sources, as well as the top 100 coal companies measured by reserves. The list
also filters out companies profiting from weapons manufacturing, tropical deforestation, the use of child
and/or forced labor, and companies that engage in negative climate lobbying.
Our intention with The Clean200 is to begin a conversation that defines what companies will be
part of the clean energy future.
“Our intention with The Clean200 is to begin a conversation that defines what companies will be
part of the clean energy future,” said Andrew Behar, CEO of As You Sow and the report’s co-author.
“The Clean200 turns the ‘carbon bubble’ inside out. The list is far from perfect, but begins to show
how it’s possible to accelerate and capitalize on the greatest energy transition since the industrial
The performance analysis for each of the three lists is based on a ‘snapshot in time’ analysis of current
constituents as the BNEF clean energy revenue exposure database is new and does not go back in time.
The analysis also introduces a survivorship bias that can be present when stocks which do not currently
exist (because they have failed, for example) are excluded from the historical analysis. This bias can
result in the overestimation of past returns.
The methodology and list used to develop the Clean200 are in the creative commons and can be
downloaded at www.clean200.org
The top 10 Clean200 companies with a majority of their revenue from clean energy include Vestas (wind
power), Philips Lighting (LED lighting), Xinjiang Gold-A (wind plants), Tesla Motors (electric vehicles),
Gamesa (wind turbines), First Solar (solar modules), GCL-Poly Energy (solar grade polysilicon), China
Longyuan-H (wind Farms), Kingspan Group (Insulation and building envelopes), and Acuity Brands (LED
As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility
through shareholder advocacy and coalition building. www.asyousow.org.
Corporate Knights seeks to provide information that empowers people to harness markets for a better
** As You Sow and Corporate Knights are not investment advisors nor do we provide
financial planning, legal or tax advice. Nothing in the Carbon Clean 200 Report shall
constitute or be construed as an offering of financial instruments or as investment
advice or investment recommendations.**
Is Wood Burning Sustainable For Your Home?
Wood is a classic heat source, whether we think about people gathered around a campfire or wood stoves in old cabins, but is it a sustainable source of heat in modern society? The answer is an ambivalent one. In certain settings, wood heat is an ideal solution, but for the majority of homes, it isn’t especially suitable. So what’s the tipping point?
Wood heat is ideal for small homes on large properties, for individuals who can gather their own wood, and who have modern wood burning ovens. A green approach to wood heat is one of biofuel on the smallest of scales.
Is Biofuel Green?
One of the reasons that wood heat is a source of so much divide in the eco-friendly community is that it’s a renewable resource and renewable has become synonymous with green. What wood heat isn’t, though, is clean or healthy. It lets off a significant amount of carbon and particulates, and trees certainly don’t grow as quickly as it’s consumed for heat.
Of course, wood is a much less harmful source of heat than coal, but for scientists interested in developing green energy sources, it makes more sense to focus on solar and wind power. Why, then, would they invest in improved wood burning technology?
Solar and wind technology are good large-scale energy solutions, but when it comes to small-space heating, wood has its own advantages. First, wood heat is in keeping with the DIY spirit of homesteaders and tiny house enthusiasts. These individuals are more likely to be driven to gather their own wood and live in small spaces that can be effectively heated as such.
Wood heat is also very effective on an individual scale because it requires very little infrastructure. Modern wood stoves made of steel rather than cast iron are built to EPA specifications, and the only additional necessary tools include a quality axe, somewhere to store the wood, and an appropriate covering to keep it dry. And all the wood can come from your own land.
Wood heat is also ideal for people living off the grid or in cold areas prone to frequent power outages, as it’s constantly reliable. Even if the power goes out, you know that you’ll be able to turn up the heat. That’s important if you live somewhere like Maine where the winters can get exceedingly cold. People have even successfully heated a 40’x34’ home with a single stove.
Benefits Of Biomass
The ultimate question regarding wood heat is whether any energy source that’s dangerous on the large scale is acceptable on a smaller one. For now, the best answer is that with a growing population and limited progress towards “pure” green energy, wood should remain a viable option, specifically because it’s used on a limited scale. Biomass heat is even included in the UK’s Renewable Heat Initiative and minor modifications can make it even more sustainable.
Wood stoves, when embraced in conjunction with pellet stoves, geothermal heating, and masonry heaters, all more efficient forms of sustainable heat, should be part of a modern energy strategy. Ultimately, we’re headed in the direction of diversified energy – all of it cleaner – and wood has a place in the big picture, serving small homes and off-the-grid structures, while solar, wind, and other large-scale initiatives fuel our cities.
7 Benefits You Should Consider Giving Your Energy Employees
As an energy startup, you’re always looking to offer the most competitive packages to entice top-tier talent. This can be tough, especially when trying to put something together that’s both affordable but also has perks that employees are after.
After all, this is an incredibly competitive field and one that’s constantly doing what it can to stay ahead. However, that’s why I’m bringing you a few helpful benefits that could be what bolsters you ahead of your competition. Check them out below:
One benefit commonly overlooked by companies is offering your employees financial advising services, which could help them tremendously in planning for their long-term goals with your firm. This includes anything from budgeting and savings plans to recommendations for credit repair services and investments. Try to take a look at if your energy company could bring on an extra person or two specifically for this role, as it will pay off tremendously regarding retention and employee happiness.
While often included in a lot of health benefits packages, offering your employees life insurance could be an excellent addition to your current perks. Although seldom used, life insurance is a small sign that shows you care about the life of their family beyond just office hours. Additionally, at such a low cost, this is a pretty simple aspect to add to your packages. Try contacting some brokers or insurance agents to see if you can find a policy that’s right for your firm.
Dedicated Time To Enjoy Their Hobbies
Although something seen more often in startups in Silicon Valley, having dedicated office time for employees to enjoy their passions is something that has shown great results. Whether it be learning the piano or taking on building a video game, having your team spend some time on the things they truly enjoy can translate to increased productivity. Why? Because giving them the ability to better themselves, they’ll in turn bring that to their work as well.
The Ability To Work Remotely
It’s no secret that a lot of employers despise the idea of letting their employees work remotely. However, it’s actually proven to hold some amazing benefits. According to Global Workplace Analytics, 95% of employers that allow their employees to telework reported an increased rate of retention, saving on both turnover and sick days. Depending on the needs of each individual role, this can be a strategy to implement either whenever your team wants or on assigned days. Either way, this is one perk almost everyone will love.
Even though it’s mandated for companies with over 50 employees, offering health insurance regardless is arguably a benefit well received across the board. In fact, as noted in research compiled by KFF, 28.6% of employers with less than 50 people still offered health care. Why is that the case? Because it shows you care about their well-being, and know that a healthy employee is one that doesn’t have to worry about astronomical medical bills.
Unlimited Time Off
This is a perk that almost no employer offers but should be regarded as something to consider. According to The Washington Post, only 1-2% of companies offer unlimited vacation, which it’s easy to see why. A true “unlimited vacation” program could be a firm’s worse nightmare, with employees skipping out every other week to enjoy themselves. However, with the right model in place that rewards hard work with days off, your employees will absolutely adore this policy.
A Full Pantry
Finally, having a pantry full of food can be one perk that’s not only relatively inexpensive but also adds to the value of the workplace. As noted by USA Today, when surveying employees who had snacks versus those who didn’t, 67% of those who did reported they were “very happy” with their work life. You’d be surprised at how much of a difference this could make, especially when considering the price point. Consider adding a kitchen to your office if you haven’t already, and always keep the snacks and drinks everyone wants fully stocked. Doing so will increase morale tremendously.
Compiling a great package for your energy company is going to take some time in looking at what you can afford versus what’s the most you can offer. While it might mean cutting back in other areas, having a workforce that feels like you genuinely want to take care of them can take you far. And with so many different benefits to include in your energy company’s package, which one is your favorite? Comment with your answers below!