Big Oil is Left Off Davos 'Top 100'

Correction: An earlier issue of this story incorrectly reported that Hess is privately-owned. It is instead listed on the New York stock exchange.

German engineering giant Siemens tops a 2017 list of 100 World’s Most Sustainable Corporations, published in Davos January 19 which also includes several gas groups.

Spanish gas grid operator Enagas is ranked 10^th, UK energy supplier Centrica 13^th, and Finnish oil firm Neste 23^rd despite the latter’s continued use of palm oil in its biofuel production. Further down the list, Spanish power group Iberdrola ranked 26^th, France’s Total 31^st, Canada’s Enbridge 39^th strangely ahead of Norwegian Statoil (47^th) which has pledged to divest its last North American oil sands asset in Canada. 

Photo credit: Enagas

In the lower half of the Top 100 appear Eni in 62nd place, Canada’s Cameco 71^st, US firm Hess 73^rd and Siemens’ arch-rival GE 99^th.

In 2016, Enagas, Portugal’s Galp (unlisted this year), Centrica and Statoil made the top 20, but Siemens was 42^nd and BG 36^th. The latter’s new owner Shell did not appear in either year’s lists – compiled by US magazine Corporate Knights – and nor did BP, Chevron or ExxonMobil for whatever reasons.  

Siemens gained top points in these 2017 rankings for the energy efficiency of its turbines, its commitment to renewables, its risk assessment strategy, and global presence. However rival indices for sustainability are available: CDP, for example, publishes its annual Climate A-List in the autumn which cited Eni, Galp and Neste but neither Statoil nor Total or larger oil and gas majors.

Mark Smedley