Corporate Knights has unveiled the new rankings for the most sustainable companies in the world. While some brands are happy to lead the charts for the most creative or viral companies (where the drama is always awake), this list does not really hide any sudden surprises. According to the list, some of the most sustainable fashion and beauty brands of 2016 are Adidas, L’Oreal and H&M.
The list is not very extensive. According to a Fashionista report, “The Magazine for Clean Capitalism“ has included only top 100 corporations with market capitalization over $2 billion, which is approximately the amount of money your company will need to maintain sustainability. Don’t be upset if you’re too small for big sharks, your time will come too.
Although some of us could easily name the top three most sustainable companies for the fashion and beauty industry without any specific data in hand (some things are just too obvious), there are actually specific criteria the list is based on. All companies ranked on this list meet the 4 core criteria of the magazine, all 4 including tests of:
● company revenue
● sustainability disclosures
● the products offered by the brand (with tobacco and weapon companies excluded from consideration)
● amount of environmental sanctions that have been placed against them
If your brand scored positive results for these criteria, you would most probably be on Corporate Knights’ radar. All companies that scored positively were then ranked based on water productivity, innovation capacity, leadership diversity, and the pay scale from the CEO down to the average worker. Too much math? Don’t overload your mind, and let us translate all this into Humanish for you.
Out of all fashion and beauty companies, Adidas leads the race and has the highest ranking – 5th on the list. Next up is L’Oreal ranking 14th and taking the second prize for the industry. The Swedish clothing giant, H&M came 20th, closing the top 3. A little further on the list are Kering – 43rd – and Unilever – 47th.
One of the most interesting aspects of the rankings that we just couldn’t help but notice is the absence of Nike from the list. We’ve got Adidas, and based on all the non-logical rules we had in the fashion industry so far, Nike has got to be somewhere near. Because another reality has just never been possible!
Sad, but true: sometimes exceptions are possible. This would be one of the most important wins Adidas received over Nike in 2016. The year has just started, and we are eager to see more back-and-forth between the eternal competitors.
H&M also outran its competitors Zara and Forever 21. Its latest collections like “Feminine Expression” and the new, entirely eco-friendly beauty collection, are just some of the sustainable activities the brand is engaged in. It looks like the efforts have paid off!
We surely salute to all the companies ranked on this list and encourage others to work on their sustainability strategy. Let’s make the next list even more competitive!
Photo courtesy of @fashionablefit