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Germany, Japan, France, Switzerland, and U.S. Have Five Largest Companies on Clean200 List

OAKLAND, CA – February 21, 2017 –  Today, As You Sow and Corporate Knights released the updated version of the Carbon Clean 200TM (Clean200TM), a list of the 200 largest publicly traded companies making significant revenue from clean energy. China continues to play a leading role in the clean energy economic expansion with 35% of the 200 companies; although China’s stock market is less than half the size of the U.S., it has almost double the number of large clean energy companies (71 vs. 41). Overall, the total clean energy revenue of the 200 companies accounts for 30% of total revenues.

The updated Clean200 list is the first of 2017 and updates the August 2016 inaugural list. It will continue to be updated regularly to serve as the inverse of the Carbon Underground 200TM, a list of fossil fuel companies being targeted for divestment. The companies making the list include Siemens, Toyota, Schneider Electric, Johnson Controls, Panasonic, Vestas, Bombardier, Phillips, Emerson Electric, DONG Energy, Xinjiang Goldwind Science, Tesla, First Solar, and Samsung. The top ten countries with companies on the list include China, USA, Japan, Germany, India, Canada, South Korea, Switzerland, Denmark, and Spain.

“The world came together in Paris to solve a global crisis; having 25 countries with large-cap companies building the clean energy future is truly inspiring.” said Andrew Behar, CEO of As You Sow and report co-author. “It shows that the rhetoric of divisiveness, of us versus them has no place in the clean energy future.”

"The clean energy ‘space-race’ is on and China is in pole position,” said Toby Heaps, CEO of Corporate Knights and report co-author. “Whether or not the U.S. can climb out of second place will depend in no small measure on the new administration’s ability to make America green again.”

In the period of live performance from August 15, 2016 to January 31, 2017, the Clean200 generated a total return of 2.91%, slightly lagging its S&P 1200 benchmark, which generated a total return of 4.17%.

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 Q4 2016) and earn more than 10% of total revenues from clean energy sources. 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.

The methodology and list used to develop the Clean200 are in the creative commons and can be downloaded at

Financial Analysis (August 15, 2016 – January 31, 2017)

Over its first live performance period from August 15, 2016 to January 31, 2017, the Clean200 generated a 2.9% total return, underperforming the S&P 1200 by 1.26%.

The U.S. election contributed to gyrations in the Clean200 vs. S&P 1200. In the lead up to the election from August 15 to November 8, when a Trump win was viewed as improbable, the Clean200 outperformed the S&P 1200 by a full percentage point. After Trump’s upset, there was a bump in the lead up to the January 20th inauguration, but the Clean200 lagged. In the brief window between the inauguration and the end of January, the Clean200 bounced back, turning in 2% (more than triple the 0.6% of the S&P 1200 for the same period).

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CONTACT: Taraneh Arhamsadr, (510) 735-8157,; Toby A. A. Heaps, (416) 274-1432,

As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy and coalition building.
Corporate Knights seeks to provide information that empowers people to harness markets for a better world.

** 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.**