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Ranked by the ClimateTicker Green Score — who genuinely helps, and who to watch.

AllClimate LeadersWatchlist

Climeworks

65Credible Contributor

Carbon Removal · Zurich, Switzerland

Swiss pioneer of direct air capture (DAC), removing CO₂ from the atmosphere and storing it permanently underground, including the Orca and Mammoth plants in Iceland.

Sunrun

65Credible Contributor

Solar · San Francisco, CA, USA· RUN

Largest residential solar, battery storage and energy-services company in the United States, offering home solar through subscription and ownership models.

Octopus Energy

63Credible Contributor

Energy · London, UK

UK-based clean energy retailer and technology group whose Kraken platform manages renewable supply, smart tariffs and grid flexibility for millions of customers worldwide.

Lyten

52Mixed / Improving

Advanced Materials · San Jose, CA, USA

Advanced materials company commercialising lithium-sulfur batteries and 3D graphene applications that promise lighter, cheaper energy storage with a lower carbon footprint.

Pachama

52Mixed / Improving

Nature & Carbon Markets · San Francisco, CA, USA

Uses satellite data and machine learning to verify and monitor forest carbon projects, bringing transparency and quality to nature-based carbon markets.

Commonwealth Fusion Systems

51Mixed / Improving

Energy · Devens, MA, USA

MIT spin-out building compact tokamak fusion reactors using high-temperature superconducting magnets, targeting commercial fusion power with its SPARC and ARC machines.

Beyond Meat

50Mixed / Improving

Food & Agriculture · El Segundo, CA, USA· BYND

Plant-based meat producer whose products aim to cut the land, water and emissions footprint of animal agriculture while matching the taste of conventional meat.

Drax Group

16Greenwashing / Harmful

Power Generation · Selby, UK· DRX

UK power generator that converted its coal plant to burn wood-pellet biomass, which it markets as renewable and 'carbon negative' — a claim widely contested by scientists and journalists.

⚠ greenwashing risk

ExxonMobil

16Greenwashing / Harmful

Oil & Gas · Spring, TX, USA· XOM

One of the world's largest publicly traded oil and gas companies, with growing upstream production alongside a comparatively small low-carbon solutions division.

⚠ greenwashing risk

Ryanair

15Greenwashing / Harmful

Aviation · Dublin, Ireland· RYAAY

Europe's largest low-cost airline by passenger numbers, which has marketed itself as a low-emissions carrier despite being one of the continent's biggest single CO₂ emitters.

⚠ greenwashing risk

Enel

65Credible Contributor· Provisional

Integrated utility · Rome, Italy· ENEL

Italy's largest power utility and one of the world's biggest integrated operators, with 16.9 GW renewable capacity in Italy alongside 11.3 GW of thermal; committed to phasing out fossil gas by 2040.

Foresight Group

65Credible Contributor· Provisional

Green Infrastructure Fund · London, UK· FSG

London-listed infrastructure and private equity investment manager with a large renewable energy portfolio spanning solar, wind, battery storage, and bioenergy assets across Europe and beyond.

Itron

65Credible Contributor· Provisional

Grid / smart-grid & metering technology · Liberty Lake, Washington, USA· ITRI

Itron delivers smart meters, network infrastructure, and grid-edge analytics that enable utilities to optimise energy delivery, reduce losses, and integrate distributed renewable energy resources.

Low Carbon

65Credible Contributor· Provisional

Onshore wind · London, UK

UK-based renewable energy investment and development platform focused on onshore wind, solar, and battery storage projects in Britain and internationally.

National Grid plc

65Credible Contributor· Provisional

Electricity transmission / grid infrastructure · London, United Kingdom· NG.

Operates the UK's high-voltage electricity transmission network and US electricity and gas distribution businesses.

SSE plc

65Credible Contributor· Provisional

Electricity generation / networks · Perth, Scotland, United Kingdom· SSE

UK-based energy company with a large renewables portfolio (onshore/offshore wind, hydro) and electricity networks; one of the UK's leading clean-energy investors.

Swiss Re

65Credible Contributor· Provisional

Reinsurer · Zurich, Switzerland· SREN

One of the world's two largest reinsurers, a pioneer in climate-risk modelling and parametric insurance products, and committed to ceasing coverage of new oil-sands and coal projects.

Vattenfall

65Credible Contributor· Provisional

Integrated utility · Solna, Sweden

Swedish state-owned utility with a largely fossil-free generation mix (hydro, nuclear and wind); planning small modular reactor (SMR) expansion.

Kraken Technologies

64Credible Contributor· Provisional

Grid / smart-grid & VPP software · London, UK

Kraken Technologies — an Octopus Energy Group subsidiary — provides a cloud-native energy retail and grid flexibility operating system licensed to utilities worldwide, enabling demand response, smart tariffs, and distributed energy resource management at scale.

Vaillant Group

64Credible Contributor· Provisional

Heat pumps · Remscheid, Germany

German heating manufacturer pivoting aggressively to heat pumps — opened a dedicated heat pump mega-factory in 2024 — but continues to produce gas boilers alongside its growing heat pump range.

Ceres Power

63Credible Contributor· Provisional

Hydrogen fuel cells · Horsham, UK· CWR

UK developer of proprietary solid oxide cell technology licensed to global manufacturers for both distributed power generation and green hydrogen electrolysis.

Energy Vault Holdings

63Credible Contributor· Provisional

Energy storage · Westlake Village, CA, US· NRGV

Develops gravity-based and battery energy storage systems alongside an energy management software platform for utilities, IPPs, and industrial and data-centre clients.

Siemens Energy

63Credible Contributor· Provisional

Grid / equipment & technology · Munich, Germany· ENR

Siemens Energy — spun off from Siemens AG in 2020 — provides high-voltage grid technologies, power transformers, HVDC systems, and energy management software essential for transmission infrastructure serving renewable generation.

SkyNRG

63Credible Contributor· Provisional

Sustainable aviation fuel · Amsterdam, Netherlands

Dutch SAF supply and production company co-founded by KLM that supplied the world's first commercial SAF flight in 2011 and is developing production facilities across the Netherlands, Sweden, and the US.

Lightsource bp

62Credible Contributor· Provisional

Solar · London, UK

UK-headquartered solar energy developer and operator with a global portfolio of utility-scale solar and storage projects, majority-owned by bp.

Maxeon Solar Technologies

62Credible Contributor· Provisional

Solar · Singapore

Singapore-based producer of high-efficiency back-contact solar panels under the Maxeon brand for residential and commercial markets globally.

Northern Powergrid

62Credible Contributor· Provisional

Grid / transmission & distribution · Penshaw, Sunderland, UK

Northern Powergrid operates the electricity distribution network for northeast England and Yorkshire, serving approximately 3.9 million homes and businesses and investing in network modernisation to support electrification of heat and transport.

Osprey Charging

62Credible Contributor· Provisional

EV charging

UK rapid EV charging network (originally founded as Engenie) operating over 1,300 rapid chargers at 380+ locations, powered by 100% renewable energy.

Urenco Group

62Credible Contributor· Provisional

Nuclear / SMR · Stoke Poges, United Kingdom

Urenco is a multinational uranium enrichment company jointly owned by the UK, Dutch, and German governments, operating centrifuge plants in the UK, Netherlands, Germany, and US and supplying roughly 30% of global enriched uranium.

Canadian Solar

61Credible Contributor· Provisional

Solar · Guelph, ON, Canada· CSIQ

Vertically integrated solar company manufacturing panels and developing utility-scale solar and battery storage projects across more than 20 countries.

Galvanize Climate Solutions

61Credible Contributor· Provisional

Climate VC · New York, NY, US

Climate-focused investment firm co-founded by Tom Steyer and Katie Hall deploying across growth equity, venture, and infrastructure to accelerate the net-zero transition.

Renewi

61Credible Contributor· Provisional

Recycling / circular · Milton Keynes, United Kingdom· RWI

Anglo-Dutch waste-to-product company that collects, treats, and transforms commercial, industrial, and hazardous waste into secondary raw materials across the UK, Netherlands, Belgium, and France.

AXA

60Credible Contributor· Provisional

Insurer · Paris, France· AXA

Global insurer that was among the first major institutional investors to divest from coal and tar sands, and has committed over €26 billion to green investments as part of its Net Zero 2050 roadmap.

EcoVadis

60Credible Contributor· Provisional

Supply chain sustainability · Paris, France

Global supply chain sustainability ratings platform assessing 175,000+ suppliers across 180 countries using AI combined with 500+ in-house analysts, trusted by 1,500+ global procurement leaders.

EnBW Energie Baden-Württemberg

60Credible Contributor· Provisional

Integrated utility · Karlsruhe, Germany· EBK

Germany's third-largest utility, post-nuclear since Neckarwestheim II decommissioned in 2023; deploying a €50bn 2025–2030 programme heavily weighted to renewables with gas plants retained as hydrogen-convertible bridge capacity.

Jan De Nul Group

60Credible Contributor· Provisional

Offshore wind installation · Hofstade-Aalst, Belgium

Belgian family-owned dredging and marine engineering contractor with a large fleet specialised in offshore wind cable installation and foundation work, active on major European and international projects.

Clarity AI

59Mixed / Improving· Provisional

ESG data · New York, US

Sustainability technology platform using AI and machine learning to deliver environmental and social impact data on 98,000+ public issuers, 2.3 million private companies, and 450,000+ funds for institutional investors and corporates.

Enphase Energy

59Mixed / Improving· Provisional

Solar · Fremont, CA, US· ENPH

Designs and manufactures microinverter-based solar and battery energy systems for residential and commercial customers globally.

Pivot Bio

59Mixed / Improving· Provisional

Agritech · Berkeley, CA, US

Engineers microbes that fix atmospheric nitrogen directly onto crop roots, reducing synthetic fertiliser use and the nitrous oxide emissions from conventional nitrogen application.

Terraformation

59Mixed / Improving· Provisional

Nature-based solutions · Hilo, Hawaii, USA

Hawaii-based reforestation company restoring native tropical ecosystems and providing seeds, software, and funding advisory to forest restoration projects across five continents.

Wildlife Works

59Mixed / Improving· Provisional

Nature-based solutions · Mill Valley, California, USA

Pioneer community-centred REDD+ forest carbon developer protecting 1.24 million acres across Kenya and the DRC, and the first company to achieve VCS+CCB dual verification for a REDD+ project.

DEME Group

58Mixed / Improving· Provisional

Offshore wind installation · Zwijndrecht, Belgium· DEME

Belgian specialist marine contractor and one of the largest offshore wind installation companies globally, handling foundation installation, cable-laying, and turbine erection across European and international projects.

Engie

58Mixed / Improving· Provisional

Integrated utility · Paris, France· ENGI

French-Belgian international utility with installed capacity split roughly evenly between gas and renewables; pivoting toward energy-transition services while maintaining large gas infrastructure and pursuing green-gas conversion.

GE Vernova

58Mixed / Improving· Provisional

Onshore wind · Cambridge, US· GEV

Wind turbine manufacturer and energy transition company spun off from General Electric in 2024, supplying onshore and offshore wind turbines globally.

Generate Capital

58Mixed / Improving· Provisional

Green Infrastructure Fund · San Francisco, CA, US

Sustainable infrastructure platform that finances, owns, and operates clean energy and resource-efficiency assets including solar, storage, microgrids, and water.

ITM Power

58Mixed / Improving· Provisional

Green hydrogen · Sheffield, UK· ITM

UK PEM electrolyser manufacturer operating the world's largest electrolyser factory in Sheffield, producing green hydrogen for industrial and energy applications.

NextEra Energy

58Mixed / Improving· Provisional

Onshore wind · Juno Beach, US· NEE

The world's largest generator of renewable energy from wind and solar, operating over 30 GW of wind capacity across North America.

NIO

58Mixed / Improving· Provisional

EV Maker · Shanghai, China· NIO

Chinese premium EV maker offering battery-swap capable electric cars, SUVs, and MPVs across three brands (NIO, ONVO, Firefly), with no ICE models.

SLB Capturi

58Mixed / Improving· Provisional

Carbon removal · Lysaker, Norway

Joint venture between SLB and Aker Carbon Capture (now fully SLB-owned) commercialising modular amine-based carbon capture systems — Just Catch and Big Catch — for industrial emitters globally.

Sunfire

58Mixed / Improving· Provisional

Green hydrogen · Dresden, Germany

German electrolyser manufacturer specialising in high-temperature solid oxide (SOEC) and pressurised alkaline (AEL) systems for industrial-scale green hydrogen production.

Terrasos

58Mixed / Improving· Provisional

Nature-based solutions · Bogotá, Colombia

Colombian pioneer in biodiversity credits and habitat banking, operating Latin America's first certified habitat bank and issuing voluntary biodiversity credits tied to 10 m² of forest preserved or restored for 30 years.

44.01

57Mixed / Improving· Provisional

Carbon removal · Muscat, Oman

Oman-founded carbon mineralisation company permanently sequestering CO₂ by injecting it into peridotite rock; 2022 Earthshot Prize winner and XPRIZE Carbon Removal finalist.

Eavor Technologies

57Mixed / Improving· Provisional

Geothermal · Calgary, Canada

Developer of the Eavor-Loop closed-loop geothermal system, which circulates a proprietary fluid through sealed multilateral wellbores without water consumption, now delivering power from its 65 MW Geretsried plant in Germany.

ENOUGH

57Mixed / Improving· Provisional

Alt-protein · Glasgow, UK

Produces ABUNDA mycoprotein by continuously fermenting fungi with grain sugars, delivering a complete-protein, high-fibre meat and dairy alternative at industrial scale.

Mission Zero Technologies

57Mixed / Improving· Provisional

Carbon removal · London, UK

London DAC startup using an electrochemical water-based solvent process to capture CO₂ from the atmosphere with significantly lower energy than incumbent amine systems.

Munich Re

57Mixed / Improving· Provisional

Reinsurer · Munich, Germany· MUV2

World's largest reinsurer and a leader in catastrophe risk quantification and climate-linked insurance solutions, while phasing out coal underwriting and investments.

Nova Innovation

57Mixed / Improving· Provisional

Tidal energy · Edinburgh, United Kingdom

Scottish developer of tidal stream turbines that installed the world's first fully offshore tidal array in Bluemull Sound, Shetland in 2016, and is now expanding with a EU-funded 4 MW array at EMEC.

Redwood Materials

57Mixed / Improving· Provisional

Recycling / circular · Carson City, NV, United States

Recycles lithium-ion batteries and manufactures battery components — anode copper foil and cathode active materials — to build a domestic circular battery supply chain.

Rolls-Royce SMR

57Mixed / Improving· Provisional

Nuclear / SMR · Manchester, United Kingdom

Rolls-Royce SMR is developing a 470 MWe pressurised water small modular reactor and was selected as the UK government's chosen SMR technology for initial deployment at Wylfa, backed by up to £599m from the National Wealth Fund.

Allianz SE

56Mixed / Improving· Provisional

Insurer · Munich, Germany· ALV

German insurance and asset-management conglomerate (parent of PIMCO and Allianz Global Investors) targeting net-zero insurance portfolios by 2050 and restricting coal underwriting and investment.

BayWa r.e.

56Mixed / Improving· Provisional

Onshore wind · Munich, Germany

Munich-based renewable energy developer and service provider with an onshore wind project pipeline spanning Germany, the UK, and international markets.

BNP Paribas

56Mixed / Improving· Provisional

Bank · Paris, France· BNP

Europe's largest bank and a top-five global green-bond arranger, with commitments to exit upstream oil and gas project financing and end coal support by 2030.

E.ON SE

56Mixed / Improving· Provisional

Integrated utility · Essen, Germany· EOAN

Pan-European energy network operator and retailer serving 50+ million customers across 30 countries; divested fossil generation as Uniper in 2016 and now deploys €48bn through 2030 to build out electricity and gas distribution infrastructure.

EVgo

56Mixed / Improving· Provisional

EV charging · Los Angeles, California, US· EVGO

One of the largest US public DC fast-charging networks; listed on NASDAQ (EVGO). Originally built and owned by LS Power before its 2021 SPAC listing.

Infinium

56Mixed / Improving· Provisional

E-fuels and sustainable aviation fuel · Sacramento, US

Operates the world's first fully operational commercial-scale e-fuels facility (Project Pathfinder) in Corpus Christi, Texas, producing eSAF and eDiesel from renewable electricity and waste CO2.

Mixergy

56Mixed / Improving· Provisional

Smart hot water · Cassington, UK

Oxford University spinout making smart hot water cylinders with patented top-down heating technology, reducing electricity consumption and enabling integration with heat pumps and solar PV.

SolarEdge Technologies

56Mixed / Improving· Provisional

Solar · Herzliya, Israel· SEDG

Makes DC-optimised string inverters and power optimisers that maximise energy yield from solar installations for residential, commercial and utility-scale markets.

Tesla

56Mixed / Improving· Provisional

EV Maker · Austin, TX, USA· TSLA

US-based pure-play EV manufacturer producing passenger cars, SUVs, and trucks with no ICE vehicles, and the world's leading vertically integrated EV brand by deliveries.

United Utilities Group PLC

56Mixed / Improving· Provisional

Water & sewerage utility · Warrington, United Kingdom· UU.

UK's largest listed water company, providing water and wastewater services to 7 million people across north-west England; FTSE 100 constituent.

Westinghouse Electric Company

56Mixed / Improving· Provisional

Nuclear / SMR · Cranberry Township, United States

Westinghouse Electric Company is the world's leading nuclear technology supplier, operating AP1000 reactors at Vogtle and developing the AP300 SMR, with a US government-backed fleet contract announced in 2025.

A.P. Moller-Maersk

55Mixed / Improving· Provisional

Shipping · Copenhagen, Denmark· MAERSK-B

One of the world's largest container shipping operators, pursuing a 2040 net-zero target and deploying methanol-powered vessels while still operating a predominantly fossil-fuel fleet.

GRIDSERVE

55Mixed / Improving· Provisional

EV charging

UK operator of the GRIDSERVE Electric Highway network, with 190+ high-power charging locations including motorway service hubs and flagship electric forecourts.

Kensa Group

55Mixed / Improving· Provisional

Heat pumps · Truro, UK

UK's largest manufacturer of ground source heat pumps, responsible for over half of all ground source heat pump installations in Britain.

SINAI Technologies

55Mixed / Improving· Provisional

Carbon accounting · San Francisco, US

Enterprise decarbonization software platform that enables large companies to monitor, analyze, price, and reduce carbon emissions across operations and value chains.

Stegra

55Mixed / Improving· Provisional

Green steel · Stockholm, Sweden

Swedish green-steel producer (formerly H2 Green Steel) building a hydrogen-based direct-reduction steel plant in Boden; rebranded to Stegra in 2024.

Twelve

55Mixed / Improving· Provisional

E-fuels and synthetic aviation fuel · Berkeley, US

Electrochemical carbon transformation company producing E-Jet synthetic aviation fuel from CO2, water, and renewable electricity with up to 90% lower lifecycle emissions.

Baseload Capital

54Mixed / Improving· Provisional

Geothermal · Stockholm, Sweden

Swedish geothermal project developer and financier that builds and operates low-temperature binary-cycle geothermal plants globally, backed by Ingka Investments, Baker Hughes, and Breakthrough Energy Ventures.

Breakthrough Energy Ventures

54Mixed / Improving· Provisional

Climate VC · Kirkland, WA, US

Bill Gates-led multi-billion dollar climate tech VC fund backing early-stage technologies that can cut global greenhouse gas emissions at meaningful scale.

Glen Dimplex

54Mixed / Improving· Provisional

Electric heating & heat pumps · Dublin, Ireland

World's largest electric heating business, manufacturing heat pumps, high heat retention storage heaters, and smart controls that enable the shift away from fossil-fuel heating.

Lucid Group

54Mixed / Improving· Provisional

EV Maker · Newark, CA, USA· LCID

US luxury EV maker producing the Lucid Air sedan (500+ mile EPA range) and Gravity SUV, backed by Saudi Arabia's Public Investment Fund, with an industry-leading powertrain efficiency.

Measurabl

54Mixed / Improving· Provisional

ESG data · San Diego, US

World's most widely adopted ESG data management and reporting platform for commercial real estate, covering 21 billion sq ft across 90+ countries for owners and asset managers.

TPI Composites

54Mixed / Improving· Provisional

Onshore wind · Scottsdale, US· TPIC

The only independent US-based manufacturer of composite wind blades at scale, supplying major turbine OEMs from facilities across four continents.

AFC Energy

53Mixed / Improving· Provisional

Hydrogen fuel cells · Cranleigh, UK· AFC

UK manufacturer of alkaline fuel cell systems that use hydrogen to generate zero-emission electricity for construction sites, events and off-grid applications.

Array Technologies

53Mixed / Improving· Provisional

Solar · Albuquerque, NM, US· ARRY

Manufactures single-axis solar tracker systems for utility-scale solar farms, enabling panels to follow the sun and increase energy output.

Electric Hydrogen

53Mixed / Improving· Provisional

Green hydrogen · Devens, Massachusetts, USA

US electrolyser startup developing 100 MW HYPRPlant PEM systems targeting $1.50/kg green hydrogen, the first green hydrogen unicorn backed by bp Ventures and the US DOE.

HeidelbergMaterials

53Mixed / Improving· Provisional

Cement · Heidelberg, Germany· HEIDEL

German cement and aggregates major operating over 3,000 production sites in 50+ countries, pursuing carbon capture (Brevik CCS project) while remaining a top-five global emitter in the sector.

Invinity Energy Systems

53Mixed / Improving· Provisional

Energy storage · London, UK· IES

Global manufacturer of vanadium flow batteries (ENDURIUM and VS3 product lines) for commercial and utility-scale stationary energy storage, with operations across the UK, US, Canada, China, and Australia.

Nature's Fynd

53Mixed / Improving· Provisional

Alt-protein · Chicago, IL, US

Ferments a Yellowstone-origin fungal microorganism to produce Fy protein, a complete nutritional fungi protein used in meat and dairy alternatives with a minimal land and water footprint.

Pod Point

53Mixed / Improving· Provisional

EV charging

UK EV charging hardware manufacturer and network operator with over 250,000 charge points; majority owned by EDF Energy after a 2022 acquisition.

Boston Metal

52Mixed / Improving· Provisional

Green steel · Woburn, USA

MIT spinout commercialising molten oxide electrolysis (MOE) to convert iron ore directly into steel using electricity, eliminating coal and coke from the ironmaking process.

BYD

52Mixed / Improving· Provisional

EV Maker · Shenzhen, China· 1211

Chinese EV and battery manufacturer — the world's largest NEV seller — producing only battery-electric and plug-in hybrid vehicles after halting pure-ICE production in 2022.

Congruent Ventures

52Mixed / Improving· Provisional

Climate VC · Oakland, CA, US

Oakland-based early-stage VC investing in climate and sustainability companies spanning clean energy, circular economy, sustainable food, and mobility sectors.

NetZeroNitrogen

52Mixed / Improving· Provisional

Agritech · Nottingham, UK

Develops endophytic bacteria-based biofertilisers that replace synthetic nitrogen fertilisers, cutting agricultural greenhouse gas emissions and improving soil health.

ChargePoint Holdings

51Mixed / Improving· Provisional

EV charging · Campbell, California, US· CHPT

Operator of one of the world's largest EV charging networks, offering hardware, software and services across North America and Europe with over 1.3 million ports.

Fluence Energy

51Mixed / Improving· Provisional

Energy storage · Arlington, VA, US· FLNC

Global energy storage technology and services company offering utility-scale battery systems and AI-powered optimization software, ranked among the top three BESS providers worldwide.

GridBeyond

51Mixed / Improving· Provisional

Grid / smart-grid & VPP software · Dublin, Ireland

GridBeyond is an AI-powered energy intelligence platform that enables commercial and industrial customers to participate in demand response, ancillary services markets, and virtual power plant aggregation across UK, Ireland, and North America.

Indigo Ag

51Mixed / Improving· Provisional

Regenerative ag · Boston, MA, US

Combines microbial seed treatments, digital agronomy tools, and a carbon marketplace to help row-crop farmers adopt regenerative practices and generate verified carbon credits.

Meyer Burger Technology

51Mixed / Improving· Provisional

Solar · Thun, Switzerland· MBTN

Swiss manufacturer of high-efficiency heterojunction solar cells and modules targeting premium residential and commercial markets.

Carbon Clean

50Mixed / Improving· Provisional

Carbon removal · London, UK

UK point-source carbon capture company providing modular CCS equipment and proprietary solvents to decarbonise hard-to-abate industries such as cement, steel, and waste-to-energy.

ClimateAi

50Mixed / Improving· Provisional

Agricultural climate risk AI · San Francisco, US

ClimateAi provides an AI-driven climate resilience platform with hyper-local seasonal forecasting and risk analytics for global agricultural and water supply chains, helping food companies adapt sourcing and operations to a changing climate.

Invenergy

50Mixed / Improving· Provisional

Onshore wind · Chicago, US

Chicago-based independent developer, owner, and operator of clean energy facilities with one of the largest onshore wind portfolios in North America.

Newcleo

50Mixed / Improving· Provisional

Nuclear / SMR · Paris, France

Newcleo is developing MOX-fuelled lead-cooled fast reactors to generate low-carbon power while consuming nuclear waste, with a prototype 30 MWe reactor planned in France and over €537m raised.

tado°

50Mixed / Improving· Provisional

Smart heating controls · Munich, Germany

Europe's largest smart thermostat and heating-control company, using AI and geofencing to cut household heating emissions; backed by Amazon, E.ON and the European Investment Bank.

Habitat Energy

49Mixed / Improving· Provisional

Energy storage · Oxford, UK

Battery storage optimization and trading software company whose AI-powered EVOLVE platform manages over 5.5 GW of contracted grid-scale battery and renewable assets across the UK, US, and Australia.

Highview Power

49Mixed / Improving· Provisional

Energy storage · London, UK

Long-duration energy storage pioneer using proprietary liquid air energy storage (LAES/CRYOBattery) technology, with over £500 million secured and a 50 MW/300 MWh facility under construction in Manchester.

Malta Inc

49Mixed / Improving· Provisional

Energy storage · Cambridge, MA, US

Alphabet X spin-off developing pumped heat (electro-thermal) long-duration energy storage using molten salt and antifreeze, with $122 million raised and a demonstration project underway in Spain.

Nuveen

49Mixed / Improving· Provisional

Asset manager · New York, US

TIAA's investment management arm and one of the largest responsible-investment managers globally, offering dedicated ESG fixed-income, equity, and real-assets strategies.

Scottish Water

49Mixed / Improving· Provisional

Water & sewerage utility · Dunfermline, United Kingdom

Statutory corporation wholly owned by the Scottish Government, providing water and sewerage services to 2.46 million households and 150,000 businesses across Scotland; formed in 2002 from a merger of three regional water authorities.

Severn Trent Plc

49Mixed / Improving· Provisional

Water & sewerage utility · Coventry, United Kingdom· SVT

FTSE 100 water and sewerage company serving 4.6 million households across the Midlands and north of England, repeatedly sanctioned for sewage spills and storm overflow releases.

ZELP

49Mixed / Improving· Provisional

Agritech · London, UK

Develops wearable cattle devices that continuously measure enteric methane emissions and catalytically oxidise them, reducing livestock methane output at the source.

Connected Kerb

48Mixed / Improving· Provisional

EV charging · London, UK

UK on-street public EV charging network targeting residents without private driveways; raised £65M from the UK National Wealth Fund and Aviva Investors in 2025.

ESS Tech

48Mixed / Improving· Provisional

Energy storage · Wilsonville, OR, US· GWH

Manufacturer of long-duration iron flow battery energy storage systems using iron, salt, and water for utility-scale and commercial applications.

LanzaJet

48Mixed / Improving· Provisional

Sustainable aviation fuel · Deerfield, US

Produces sustainable aviation fuel from ethanol using patented alcohol-to-jet (ATJ) technology at its Freedom Pines commercial-scale facility in Georgia.

OXCCU

48Mixed / Improving· Provisional

Sustainable aviation fuel · Oxford, UK

University of Oxford spin-out converting CO2 and hydrogen into sustainable aviation fuel via a patented single-step Fischer-Tropsch process, with a pilot facility operational at Oxford Airport.

Recycleye

48Mixed / Improving· Provisional

Recycling / circular · London, United Kingdom

Deploys AI-vision robotic picking systems in materials recovery facilities to automate waste sorting, improving purity and recovery rates for recyclable streams.

Respira International

48Mixed / Improving· Provisional

Nature-based solutions · London, United Kingdom

London-based impact carbon finance firm providing long-term upfront project finance to REDD+, reforestation, regenerative agriculture, and blue carbon developers globally.

Stem Inc

48Mixed / Improving· Provisional

Energy storage · San Francisco, CA, US· STEM

AI-driven energy storage software company whose Athena platform forecasts demand and optimises dispatch of battery storage assets for commercial and utility customers.

Worn Again Technologies

48Mixed / Improving· Provisional

Recycling / circular · Nottingham, United Kingdom

Chemically recycles mixed polyester-cotton textile waste and PET packaging into high-purity raw materials — polyester and cellulose — that re-enter fiber and plastic supply chains.

Electrify America

47Mixed / Improving· Provisional

EV charging · Reston, Virginia, US

Volkswagen-funded US public fast-charging network operating over 5,600 DC fast chargers at 1,080+ locations across the US and Canada.

Eos Energy Enterprises

47Mixed / Improving· Provisional

Energy storage · Edison, NJ, US· EOSE

Designs and manufactures Znyth zinc-based long-duration battery energy storage systems for utility-scale and microgrid applications, offering 3 to 12 hours of discharge.

HIF Global

47Mixed / Improving· Provisional

E-fuels and synthetic fuels · Houston, US

International electrofuel company producing power-to-liquid e-SAF, e-gasoline, and e-methanol from green hydrogen and captured CO2 at facilities in Chile and Texas.

NET Power

47Mixed / Improving· Provisional

Carbon removal · Durham, NC, USA· NPWR

US clean-energy company licensing the Allam-Fetvedt Cycle, which combusts natural gas with pure oxygen and supercritical CO₂ to generate zero-emission, 24/7 dispatchable power with integrated CCS.

Tomorrow.io

47Mixed / Improving· Provisional

Weather intelligence · Boston, US

Tomorrow.io operates an AI-native weather intelligence platform and proprietary satellite constellation that provides real-time and predictive weather data to help enterprises manage operational risk from severe weather.

Wallbox

47Mixed / Improving· Provisional

EV charging · Barcelona, Spain· WBX

Spanish EV charging hardware and energy management company listed on the NYSE, with home, commercial and public charging products including bidirectional V2G chargers sold globally.

Agrimetrics

46Mixed / Improving· Provisional

Agritech · Harpenden, UK

UK agricultural data marketplace enabling farmers, agribusinesses, and researchers to share, access, and monetise farm and environmental datasets to drive precision and sustainable agriculture.

Finite Carbon

46Mixed / Improving· Provisional

Nature-based solutions · Philadelphia, Pennsylvania, USA

North America's largest forest carbon offset developer with 60+ Improved Forest Management projects covering nearly four million acres in both voluntary and California compliance markets.

FlexGen Power Systems

46Mixed / Improving· Provisional

Energy storage · Durham, NC, US

Battery energy storage software and services company whose HybridOS energy management platform supports over 25 GWh of BESS across 200 projects, expanded via acquisition of Powin's assets in 2025.

Greyparrot

46Mixed / Improving· Provisional

Recycling / circular · London, United Kingdom

Provides AI-powered waste analytics hardware and software that continuously tracks waste composition on conveyor belts, giving recyclers real-time data to optimise sorting and compliance.

SIMEC Atlantis Energy

46Mixed / Improving· Provisional

Tidal energy · Edinburgh, United Kingdom· SAE

Developer and operator of tidal stream energy projects, owning the 6 MW MeyGen array in the Pentland Firth — the world's largest operational tidal stream installation — with CfD contracts for 59 MW of further expansion.

Storegga

46Mixed / Improving· Provisional

Carbon removal · London, UK

UK developer of large-scale CCS and BECCS infrastructure, leading the Acorn CCS project in Scotland and building CO₂ transport and storage hubs across the UK, Norway, and US.

Affinity Water

45Mixed / Improving· Provisional

Water utility

UK's largest water-only company by revenue and population, supplying drinking water to 3.9 million people across the London commuter belt, east and south-east England; owned by Allianz Capital Partners (36.6%), HICL Infrastructure (36.6%) and DIF (26.8%).

Arcadia

45Mixed / Improving· Provisional

Energy data · Washington DC, US

Energy intelligence platform aggregating utility data from 2,000+ utilities to enable businesses and developers to build clean energy products and generate accurate ESG energy reporting.

Blink Charging

45Mixed / Improving· Provisional

EV charging · Miami Beach, Florida, US· BLNK

Owner, operator and provider of EV charging equipment and networked services across the United States and internationally.

Holcim

45Mixed / Improving· Provisional

Cement · Zug, Switzerland· HOLN

The world's largest cement and building materials company, operating in over 70 countries and marketing low-carbon ECOPact products while still accounting for around 1.5% of global CO2 emissions.

Hydrosat

45Mixed / Improving· Provisional

Satellite water monitoring · Washington, US

Hydrosat uses thermal infrared satellite imagery to measure crop water stress and evapotranspiration at field level, enabling precision irrigation recommendations and drought risk management for agriculture and food security.

Northumbrian Water Group

45Mixed / Improving· Provisional

Water & sewerage utility · Durham, United Kingdom

Water and sewerage company serving 2.7 million customers in north-east England and 1.7 million in Essex and Suffolk (trading as Essex & Suffolk Water), 75% owned by CK Infrastructure Holdings with 25% held by KKR.

BWX Technologies

44Mixed / Improving· Provisional

Nuclear / SMR · Lynchburg, United States· BWXT

BWX Technologies manufactures nuclear propulsion systems and fuel for the US Navy and is a key commercial supplier of reactor components, pressure vessels, and nuclear services for both existing plants and advanced reactor programmes.

Enagas

44Mixed / Improving· Provisional

Gas utility / LNG · Madrid, Spain· ENG

Enagas is Spain's gas transmission system operator, managing the country's main gas pipeline network and three LNG regasification terminals, serving as a key European import hub.

ubitricity

44Mixed / Improving· Provisional

EV charging

Operator of the UK's largest on-street EV charging network, converting lampposts into charge points across British cities; wholly owned by Shell since February 2021.

Dendra Systems

43Mixed / Improving· Provisional

Nature-based solutions · Oxford, United Kingdom

Oxford-based AI and drone ecology platform enabling large-scale ecosystem restoration and monitoring, managing 70,000+ hectares for mining, industrial, and conservation clients worldwide.

NuScale Power

43Mixed / Improving· Provisional

Nuclear / SMR · Corvallis, United States· SMR

NuScale Power is the first SMR developer to receive NRC design certification for its modular 77 MWe VOYGR light-water reactor, targeting utilities and industrial customers globally.

Velocys

43Mixed / Improving· Provisional

Sustainable aviation fuel · Oxford, UK

UK-based Fischer-Tropsch technology licensor enabling commercial production of power-to-liquid SAF and e-fuels from waste and renewable feedstocks.

Benchmark Labs

42Mixed / Improving· Provisional

Agricultural climate forecasting · San Diego, US

Benchmark Labs uses AI to produce asset-specific microclimate weather forecasts for agriculture, renewable energy, and land management, correcting biases in grid-level models to deliver field-precision predictions.

Meati Foods

42Mixed / Improving· Provisional

Alt-protein · Boulder, CO, US

Ferments non-GMO mycelium at commercial scale to produce whole-cut meat alternatives with the fibre profile, protein density, and fibrous texture of whole-muscle meat.

Mission Barns

41Mixed / Improving· Provisional

Alt-protein · San Francisco, CA, US

Cultivates pork fat cells in proprietary bioreactors to produce USDA- and FDA-approved Mission Fat, a cultivated fat ingredient for plant-based meat products.

Zero Petroleum

41Mixed / Improving· Provisional

Synthetic fuels · London, UK

UK synthetic fuel startup producing carbon-neutral e-fuels via Fischer-Tropsch synthesis from atmospheric CO2 and green hydrogen, achieving the world's first RAF synthetic fuel flight in 2021.

1PointFive

40Mixed / Improving· Provisional

Carbon removal · Houston, TX, USA

Occidental's DAC subsidiary operating STRATOS — the world's largest direct air capture facility in Texas — using Carbon Engineering's technology acquired in 2023.

⚠ greenwashing risk

Anglian Water Services

40Mixed / Improving· Provisional

Water & sewerage utility

Water and sewerage company serving 6 million customers across eastern England, owned by the Osprey Consortium of global infrastructure funds.

⚠ greenwashing risk

Baker Hughes Company

40Mixed / Improving· Provisional

Oil & gas · Houston, TX, United States· BKR

Oilfield technology and services company with industrial and energy technology divisions; revenues remain predominantly tied to oil and gas extraction and LNG despite some emerging clean-energy offerings.

⚠ greenwashing risk

BMW Group

40Mixed / Improving· Provisional

Automaker · Munich, Germany· BMW

German premium automaker selling iX, i4, i5, and i7 fully electric models alongside a large ICE and PHEV portfolio under the BMW, MINI, and Rolls-Royce brands.

⚠ greenwashing risk

Brookfield Renewable Partners

40Mixed / Improving· Provisional

Renewable energy infrastructure· BEP

One of the world's largest publicly traded renewable energy platforms, with hydropower, wind, solar and storage assets across 30+ markets.

⚠ greenwashing risk

Dwr Cymru Welsh Water

40Mixed / Improving· Provisional

Water & sewerage utility · Cardiff, United Kingdom

Not-for-profit water and sewerage company serving 3.1 million customers across Wales and parts of Herefordshire, owned by Glas Cymru — a company limited by guarantee with no shareholders — with surpluses reinvested in services.

Fluxys

40Mixed / Improving· Provisional

Gas utility / LNG · Brussels, Belgium

Fluxys is an independent gas infrastructure group operating Belgium's gas transmission grid and the Zeebrugge LNG terminal, one of Europe's largest LNG import hubs.

⚠ greenwashing risk

Ford Motor Company

40Mixed / Improving· Provisional

Automaker · Dearborn, MI, USA· F

US automaker producing the F-150 Lightning and Mustang Mach-E EVs via its Ford Model e division while still deriving the bulk of earnings from ICE F-Series trucks.

⚠ greenwashing risk

Hoxton Farms

40Mixed / Improving· Provisional

Alt-protein · London, UK

Biotech company producing cultivated animal fat from pig and cow stem cells as a drop-in ingredient for plant-based meat and food manufacturing.

Living Carbon

40Mixed / Improving· Provisional

Nature-based solutions · San Francisco, California, USA

US public-benefit biotech reforestation company developing photosynthesis-enhanced trees claimed to grow faster and capture more carbon, partnering with landowners on VCM projects in the US South and mid-Atlantic.

⚠ greenwashing risk

Macquarie Group

40Mixed / Improving· Provisional

Asset management / infrastructure · Sydney, Australia· MQG

Global asset manager and major infrastructure investor; one of the world's largest green energy investors.

⚠ greenwashing risk

Mercedes-Benz Group

40Mixed / Improving· Provisional

Automaker · Stuttgart, Germany· MBG

German luxury automaker producing the EQ-series fully electric line (EQS, EQE, EQB) while maintaining a large ICE and PHEV portfolio across passenger cars, vans, and trucks globally.

⚠ greenwashing risk

Pennon Group PLC

40Mixed / Improving· Provisional

Water & sewerage utility · Exeter, United Kingdom· PNN

FTSE 250 water utility group that owns and operates South West Water, Bristol Water and SES Water, serving 1.7 million customers across south-west England and Surrey.

⚠ greenwashing risk

RWE AG

40Mixed / Improving· Provisional

Integrated utility · Essen, Germany· RWE

Germany's second-largest utility, generating over 129 TWh in 2023 with gas as the dominant source followed by lignite; CO₂ intensity has fallen ~70% since 2012 and coal exit is targeted for 2030, but the fossil mix remains substantial.

⚠ greenwashing risk

State Street Corporation

40Mixed / Improving· Provisional

Asset manager · Boston, US· STT

Global custodian bank and asset manager that operates the SPDR ESG ETF suite and engages portfolio companies on climate risk disclosure through its asset-stewardship programme.

⚠ greenwashing risk

Understory

40Mixed / Improving· Provisional

Weather risk insurance · Madison, US

Understory provides parametric weather risk insurance for businesses — including auto dealers and renewable energy operators — powered by a proprietary network of hyperlocal ground-level weather sensors that measure conditions 125,000 times per second.

Volkswagen Group

40Mixed / Improving· Provisional

Automaker · Wolfsburg, Germany· VOW3

German automotive giant pursuing aggressive electrification across its VW, Audi, Porsche, SKODA, and SEAT brands via the MEB and PPE platforms while still selling millions of ICE vehicles annually.

⚠ greenwashing risk

Wildtype

40Mixed / Improving· Provisional

Alt-protein · San Francisco, CA, US

Produces FDA-cleared cultivated coho salmon by growing Pacific salmon cells in bioreactors that mimic wild fish physiology, targeting restaurant markets as the first approved cultivated seafood in the US.

CMA CGM

39Laggard· Provisional

Shipping · Marseille, France

France-based global container shipping group operating over 600 vessels, investing in LNG and methanol-powered ships while still overwhelmingly dependent on heavy fuel oil.

⚠ greenwashing risk

Datamaran

39Laggard· Provisional

ESG analytics · London, UK

AI-driven ESG analytics platform that continuously monitors regulatory and reputational risks across 4,000+ global ESG regulations, serving nearly 200 enterprise clients including Dell and Cisco.

Wessex Water Services

39Laggard· Provisional

Water & sewerage utility · Bath, United Kingdom

Water and sewerage company serving 2.9 million customers across Dorset, Somerset, Wiltshire and the Bristol area, wholly owned by Malaysian conglomerate YTL Corporation since 2002.

Centrica

38Laggard· Provisional

Integrated utility · Windsor, United Kingdom· CNA

Owner of British Gas, the UK's largest residential gas supplier; generation capacity is primarily gas-backed with some legacy nuclear stakes and limited renewables; gas supply to homes remains the core business.

⚠ greenwashing risk

Centrus Energy

38Laggard· Provisional

Nuclear / SMR · Bethesda, United States· LEU

Centrus Energy is the only US producer of HALEU enriched uranium, operating the first new US-owned enrichment plant since 1954 at Piketon, Ohio, supplying fuel for advanced reactor programmes.

Perimeter Solutions

38Laggard· Provisional

Wildfire retardant · Clayton, US· PRM

Perimeter Solutions is the world's largest producer of aerial wildfire fire retardants, including the industry-standard PHOS-CHEK brand supplied to the US Forest Service and CAL FIRE for long-term wildfire suppression.

TerraCycle

38Laggard· Provisional

Recycling / circular · Trenton, NJ, United States

Runs brand-funded collection and recycling programs in over 20 countries for hard-to-recycle materials — cigarette butts, coffee pods, flexible packaging — that conventional recyclers reject.

⚠ greenwashing risk

Equinor ASA

36Laggard· Provisional

Offshore wind development · Stavanger, Norway· EQNR

Norwegian oil and gas major with a significant offshore wind portfolio including Dogger Bank A/B/C (world's largest wind farm) and Hywind Scotland (world's first commercial floating wind farm).

⚠ greenwashing risk

SGN

36Laggard· Provisional

Gas utility / LNG · Horley, UK

SGN (Scotia Gas Networks) operates the gas distribution networks in Scotland and southern England, serving approximately 5.9 million homes and businesses.

⚠ greenwashing risk

South East Water

36Laggard· Provisional

Water utility

Water-only company supplying 2.3 million customers across Kent, Sussex, Surrey and Hampshire, owned by a consortium managed by Hastings Infrastructure including Utilities Trust of Australia (50%), Desjardins (25%) and NatWest pension fund (25%).

Holtec International

35Laggard· Provisional

Nuclear / SMR · Jupiter, United States

Holtec International develops the SMR-300 small modular reactor and filed the first NRC construction permit application for twin SMR-300 units at the Palisades site in January 2026.

POSCO

35Laggard· Provisional

Steel · Pohang, South Korea· 005490

South Korea's largest steelmaker and one of the world's top-five producers, with an active hydrogen reduction steelmaking (HyREX) R&D programme but current output overwhelmingly from blast furnaces.

Cadent Gas

34Laggard· Provisional

Gas utility / LNG · Coventry, UK

Cadent Gas is the UK's largest gas distribution network operator, delivering gas to approximately 11 million homes and businesses across four licensed distribution networks in England.

⚠ greenwashing risk

BHP Group

33Laggard· Provisional

Diversified mining · Melbourne, Australia· BHP

Global diversified miner producing iron ore, copper, and metallurgical coal; divested thermal coal operations in 2022 but retains large met-coal exposure through the BHP Mitsubishi Alliance Queensland joint venture.

⚠ greenwashing risk

Lufthansa Group

33Laggard· Provisional

Airline · Cologne, Germany· LHA

Europe's largest airline group by revenue, operating Lufthansa, Swiss, Austrian, and Brussels Airlines, with SAF commitments that cover a small fraction of current fuel demand.

⚠ greenwashing risk

National Gas

33Laggard· Provisional

Gas utility / LNG · Warwick, UK

National Gas is the operator of the UK's national gas transmission system, managing approximately 7,660 km of high-pressure pipelines that carry gas from entry points to local distribution networks.

⚠ greenwashing risk

Repsol S.A.

33Laggard· Provisional

Oil & gas · Madrid, Spain· REPYY

Spanish integrated oil company claiming a multi-energy transition including wind and solar, but remaining substantially dependent on fossil fuel refining and upstream production with contested net-zero targets.

⚠ greenwashing risk

Snam

33Laggard· Provisional

Gas utility / LNG · San Donato Milanese, Italy· SRG

Snam is Italy's leading gas infrastructure company, operating one of Europe's most extensive gas transmission and distribution networks alongside regasification and storage assets.

⚠ greenwashing risk

South Pole

33Laggard· Provisional

Nature-based solutions · Zurich, Switzerland

World's largest carbon project developer, having originated 1,000+ climate projects across 50+ countries including REDD+, reforestation, blue carbon, and sustainable land use.

⚠ greenwashing risk

Toyota Motor Corporation

33Laggard· Provisional

Automaker · Toyota City, Japan· TM

World's largest automaker by volume, with a dominant hybrid (Prius, RAV4 Hybrid) portfolio but a delayed battery EV transition and documented lobbying against EV mandates in multiple markets.

⚠ greenwashing risk

Plug Power

32Laggard· Provisional

Green hydrogen · Slingerlands, New York, USA· PLUG

US developer of hydrogen fuel cell systems and electrolysers, the world's largest buyer of liquid hydrogen with over 280 hydrogen fuelling stations deployed globally.

⚠ greenwashing risk

Bloom Energy

31Laggard· Provisional

Hydrogen fuel cells · San Jose, California, USA· BE

US manufacturer of solid oxide fuel cells primarily fuelled by natural gas for data centres and industry, with an expanding SOEC electrolyser product line for green hydrogen production.

⚠ greenwashing risk

Northern Ireland Water

31Laggard· Provisional

Water & sewerage utility · Belfast, United Kingdom

Government-owned company providing water and sewerage services to 800,000 properties across Northern Ireland, wholly owned by the Department for Infrastructure; faces long-standing infrastructure underinvestment and regulatory scrutiny.

Stellantis

30Laggard· Provisional

Automaker · Amsterdam, Netherlands· STLA

Multi-brand global automaker (Jeep, Dodge, Ram, Fiat, Peugeot, Citroën, Vauxhall) electrifying its lineup across 14 brands under the Dare Forward 2030 plan while still ICE-dominant by volume.

⚠ greenwashing risk

Vale S.A.

30Laggard· Provisional

Iron ore & base metals mining · Rio de Janeiro, Brazil· VALE

The world's largest iron ore and nickel producer, whose Scope 3 emissions from downstream steelmaking make it one of the highest indirect emitters among global mining companies.

⚠ greenwashing risk

General Motors

29Laggard· Provisional

Automaker · Detroit, MI, USA· GM

US automaker pursuing EV transition via the Ultium platform (Chevy Equinox EV, Silverado EV) while remaining heavily dependent on ICE trucks and SUVs for the majority of its revenue.

⚠ greenwashing risk

SLB

29Laggard· Provisional

Oil & gas · Houston, TX, United States· SLB

World's largest oilfield services company (formerly Schlumberger), providing drilling, reservoir characterisation, and production technology to the fossil fuel industry across more than 120 countries.

⚠ greenwashing risk

Yorkshire Water Services

28Laggard· Provisional

Water & sewerage utility · Bradford, United Kingdom

Water and sewerage company serving 5.2 million customers in Yorkshire, operated via parent Kelda Holdings; fined repeatedly for sewage spills and storm overflow violations.

⚠ greenwashing risk

Uniper

27Laggard· Provisional

Integrated utility · Düsseldorf, Germany

German gas and power company majority-owned by the state after a 2022 bailout; sold coal plant Datteln IV in late 2025 but is planning 2 GW of new gas-fired capacity while the government works toward reprivatisation.

⚠ greenwashing risk

Southern Water Services

26Laggard· Provisional

Water & sewerage utility · Worthing, United Kingdom

Water and sewerage company serving 4.6 million customers across Kent, Sussex, Hampshire and the Isle of Wight; issued a record £90m Ofwat fine in 2021 for deliberate illegal sewage dumping, majority-owned by Macquarie since 2021.

⚠ greenwashing risk

Eni S.p.A.

25Laggard· Provisional

Oil & gas · Rome, Italy· E

Italian integrated energy company with a dedicated renewable electricity subsidiary (Plenitude) but continuing significant upstream oil and gas expansion across Africa and the Mediterranean.

⚠ greenwashing risk

Thames Water

25Laggard· Provisional

Water utility · Reading, United Kingdom

Largest UK water and wastewater company, serving 16 million customers. Subject to regulatory scrutiny over sewage discharges and financial instability.

⚠ greenwashing risk

TotalEnergies SE

25Laggard· Provisional

Oil & gas · Courbevoie, France· TTE

French integrated supermajor that rebranded from Total in 2021 claiming a renewables pivot, but continues major oil and gas expansion projects in Africa, the Middle East, and LNG globally.

⚠ greenwashing risk

BP plc

24Laggard· Provisional

Oil & gas · London, United Kingdom· BP

British multinational oil and gas company; global supermajor with stated net-zero ambitions that have been repeatedly scaled back.

⚠ greenwashing risk

Citigroup

24Laggard· Provisional

Bank · New York, US· C

Major US bank with net-zero commitments and green-bond issuance that nonetheless ranks among the world's top five fossil-fuel financiers per the Banking on Climate Chaos report.

⚠ greenwashing risk

ConocoPhillips

24Laggard· Provisional

Oil & gas · Houston, TX, United States· COP

Largest US pure-play exploration and production company, focused on conventional and unconventional oil and gas in North America, Europe, Asia, and Australia with no material clean-energy investments.

Devon Energy Corporation

24Laggard· Provisional

Oil & gas · Oklahoma City, OK, United States· DVN

US independent E&P company focused on unconventional oil and gas production in the Permian Basin, Eagle Ford, Anadarko, and Williston basins, with no material clean-energy investments.

Atmos Energy

23Laggard· Provisional

Gas utility / LNG · Dallas, US· ATO

Atmos Energy is the largest natural-gas-only distribution utility in the United States, delivering gas to over 3 million residential, commercial, industrial, and institutional customers across eight states.

⚠ greenwashing risk

BlackRock

23Laggard· Provisional

Asset manager · New York, US· BLK

World's largest asset manager that built the dominant ESG ETF franchise (iShares) but withdrew from the Net Zero Asset Managers initiative in January 2025 and continues to hold significant fossil-fuel positions.

⚠ greenwashing risk

Delta Air Lines

23Laggard· Provisional

Airline · Atlanta, USA· DAL

America's largest airline by passengers carried, operating over 5,000 daily flights and investing modestly in sustainable aviation fuel while remaining almost entirely dependent on jet fuel.

⚠ greenwashing risk

ArcelorMittal

22Laggard· Provisional

Steel · Luxembourg City, Luxembourg· MT

The world's second-largest steelmaker by volume, producing roughly 60 million tonnes annually from blast-furnace operations while piloting hydrogen-based DRI under its XCarb initiative.

⚠ greenwashing risk

HSBC Holdings

22Laggard· Provisional

Bank · London, UK· HSBA

Global bank pledging $1 trillion in sustainable finance by 2030 that was banned by the UK Advertising Standards Authority in 2022 for misleading climate ads while continuing to finance fossil-fuel expansion.

⚠ greenwashing risk

Occidental Petroleum Corporation

22Laggard· Provisional

Oil & gas · Houston, TX, United States· OXY

US Permian Basin oil producer that markets its Oxy Low Carbon Ventures direct-air-capture subsidiary as a climate credential while continuing to expand fossil production and pursuing the acquisition of CrownRock.

⚠ greenwashing risk

Petrobras

22Laggard· Provisional

Oil & gas · Rio de Janeiro, Brazil· PBR

Brazilian state-controlled oil major and a world leader in deep-water oil production, with ambitious offshore pre-salt expansion plans that dwarf its limited clean-energy investments.

⚠ greenwashing risk

Cheniere Energy

21Laggard· Provisional

Gas utility / LNG · Houston, US· LNG

Cheniere Energy is the United States' largest LNG exporter, operating the Sabine Pass and Corpus Christi liquefaction terminals with combined capacity exceeding 45 mtpa.

⚠ greenwashing risk

Glencore plc

21Laggard· Provisional

Diversified mining & commodity trading · Baar, Switzerland· GLEN

One of the world's largest diversified commodity producers and traders, with major thermal coal operations alongside copper, cobalt, nickel, and zinc; acquired Teck's Elk Valley steelmaking coal division in 2024.

⚠ greenwashing risk

PGE Polska Grupa Energetyczna

20Laggard· Provisional

Integrated utility · Warsaw, Poland· PGE

Poland's largest electricity producer, coal-dominant with over 40 power stations including the Bełchatów lignite plant (the world's 5th largest coal-fired power station); renewables investment is growing but the coal base remains overwhelming.

⚠ greenwashing risk

Shell plc

20Laggard· Provisional

Oil & gas · London, United Kingdom· SHEL

Global oil and gas supermajor; one of the world's largest carbon emitters. UK-incorporated since 2022.

⚠ greenwashing risk

Halliburton Company

18Greenwashing / Harmful· Provisional

Oil & gas · Houston, TX, United States· HAL

Major oilfield services company specialising in cementing, drilling, completion, and production services; its business is structurally dependent on continued fossil fuel extraction expansion.

⚠ greenwashing risk

Yancoal Australia

17Greenwashing / Harmful· Provisional

Coal mining · Sydney, Australia· YAL

One of Australia's largest coal producers, majority-owned by Yanzhou Coal Mining of China, with thermal and semi-soft coking coal operations across New South Wales and Queensland.

⚠ greenwashing risk

Chevron Corporation

15Greenwashing / Harmful· Provisional

Oil & gas · San Ramon, CA, United States· CVX

American integrated supermajor and the second-largest US oil company, with operations spanning extraction, refining, and petrochemicals and no material near-term transition from fossil fuels.

⚠ greenwashing risk

JPMorgan Chase

15Greenwashing / Harmful· Provisional

Bank · New York, US· JPM

Largest US bank and ranked the world's biggest financier of fossil fuels by Banking on Climate Chaos, providing tens of billions annually to oil, gas, and coal companies.

⚠ greenwashing risk

New Fortress Energy

15Greenwashing / Harmful· Provisional

Gas utility / LNG · New York, US· NFE

New Fortress Energy develops and operates LNG infrastructure globally, supplying natural gas to power-scarce markets across the Caribbean, Latin America, Europe, and Asia through floating and land-based import terminals.

⚠ greenwashing risk

Whitehaven Coal

15Greenwashing / Harmful· Provisional

Coal mining · Sydney, Australia· WHC

Australia's largest independent coal company, operating thermal and metallurgical coal mines in New South Wales and Queensland with no stated plans to exit coal.

⚠ greenwashing risk

China Shenhua Energy

14Greenwashing / Harmful· Provisional

Coal mining & power generation · Beijing, China· 1088

China's largest coal producer and one of the world's largest by output, also operating an integrated system of coal-fired power plants, railways, and ports.

⚠ greenwashing risk

Saudi Aramco

12Greenwashing / Harmful· Provisional

Oil & gas · Dhahran, Saudi Arabia· 2222

World's largest oil company by production and revenue, majority-owned by the Saudi government, with explicit plans to expand production capacity and no credible near-term decarbonisation pathway.

⚠ greenwashing risk

Adani Power

11Greenwashing / Harmful· Provisional

Coal power generation · Ahmedabad, India· ADANIPOWER

India's largest private thermal power producer, operating coal-fired power plants with total installed capacity exceeding 15,000 MW.

⚠ greenwashing risk

Coal India Limited

10Greenwashing / Harmful· Provisional

Coal mining · Kolkata, India· COALINDIA

State-owned holding company and the world's largest coal producer by volume, responsible for over 80% of India's domestic coal output.

⚠ greenwashing risk

Peabody Energy

10Greenwashing / Harmful· Provisional

Coal mining · St. Louis, United States· BTU

The world's largest private-sector coal company, producing thermal and metallurgical coal from mines in the US and Australia.

⚠ greenwashing risk

Venture Global LNG

10Greenwashing / Harmful· Provisional

Gas utility / LNG · Washington, DC, US· VG

Venture Global LNG develops, builds, and operates modular LNG export facilities on the US Gulf Coast, targeting low-cost liquefaction through a standardised design approach.

⚠ greenwashing risk

CONSOL Energy

8Greenwashing / Harmful· Provisional

Coal mining · Canonsburg, United States· CEIX

One of the largest US thermal coal producers, operating the Pennsylvania Mining Complex and a coal export terminal, with corporate heritage dating to 1864.

⚠ greenwashing risk