Our global economy is undergoing the "Great Transition" from an energy system based on fossil fuels to one based on clean, renewable energy sources and technologies. So as longtime advocates for a safe, just and sustainable future, we at As You Sow decided to partner with our friends at Corporate Knights and develop the Carbon Clean 200—to start a broad and dynamic conversation about how all investors can create a clean energy economy and how best to recognize companies that are already on this path.
Six years ago, students began to call on their university endowments to divest from fossil fuels, urging university leaders to stop profiting from companies that were destroying their future. Over time, many of those investments have increased risk in university endowment portfolios, and the trustees who listened to their students and aligned their institutions' investing with the school's mission ended up avoiding significant financial pain.
Since then, a great deal of effort has been devoted to identifying the fossil fuel companies that most threaten our fragile climate. These 200 companies were first identified by the Carbon Tracker Initiative in their seminal "Carbon Bubble" report. The Clean200 turns the Carbon Bubble inside out and asks which companies are currently profiting from participation in the clean transition and what is the best way to spot them?
How We Did It.
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 percent of total revenues from clean energy sources.
More than 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 percent 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. We then took the top 200 and ranked them by estimated clean revenue—the Clean200.
We compared the Clean200 to the Carbon Underground 200, the list of the largest fossil fuel companies that the Divest-Invest movement and many fossil free mutual funds use as a screen. We also compared the Clean200 to the S&P 1200 global benchmark. Our findings were telling, to say the least. First, more than one-third of the Clean200 companies are Chinese, which speaks to a quiet green energy revolution brewing in the world's largest economy. Another interesting finding is that 26 countries are represented.
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.
We also noted that 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 lights).
This inaugural version is just the beginning. We want to see how our Clean200 methodology may be improved over time, so we decided to make the data available to anyone and everyone on creative commons, and to update the list every quarter to track the changes and trends. With this list, we hope to open a broad and transparent global conversation. We hope that the best minds will find this thought exercise as exciting as we do and join us.
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.
By Gwen Ranniger
Fertility issues are on the rise, and new literature points to ways that your environment may be part of the problem. We've rounded up some changes you can make in your life to promote a healthy reproductive system.
Infertility and Environmental Health: The Facts<ul> <li>Sperm count is declining steeply, significantly, and continuously in Western countries, with no signs of tapering off. Erectile dysfunction is on the rise, and women are facing increasing rates of miscarriage and difficulty conceiving.</li><li>Why? A huge factor is our environmental health. Hormones (particularly testosterone and estrogen) are what make reproductive function possible, and our hormones are increasingly being negatively affected by harmful, endocrine-disrupting chemicals commonplace in the modern world—in our homes, foods, and lifestyles.</li></ul>
What You Can Do About It<p>It should be noted that infertility can be caused by any number of factors, including medical conditions that cannot be solved with a simple change at home.</p><p><em>If you or a loved one are struggling with infertility, our hearts and sympathies are with you. Your pain is validated and we hope you receive answers to your struggles.</em></p><p>Read on to discover our tips to restore or improve reproductive health by removing harmful habits and chemicals from your environment.</p>
Edit Your Health<ul><li>If you smoke, quit! Smoking is toxic, period. If someone in your household smokes, urge them to quit or institute a no-smoking ban in the house. It is just as important to avoid secondhand smoke.</li><li>Maintain a healthy weight. Make sure your caloric intake is right for your body and strive for moderate exercise.</li><li>Eat cleanly! Focus on whole foods and less processed meals and snacks. Studies have found that eating a Mediterranean-style diet is linked to increased fertility.</li><li>Minimize negative/constant stress—or find ways to manage it. Hobbies such as meditation or yoga that encourage practiced breathing are great options to reduce the physical toll of stress.</li></ul>
Edit Your Home<p>We spend a lot of time in our homes—and care that what we bring into them will not harm us. You may not be aware that many commonly found household items are sources of harmful, endocrine-disrupting compounds. Read on to find steps you can take—and replacements you should make—in your home.</p><p><strong>In the Kitchen</strong></p><ul> <li>Buy organic, fresh, unprocessed foods whenever possible. <a href="https://www.ehn.org/clean-grocery-shopping-guide-2648563801.html" target="_blank">Read our grocery shopping guide for more tips about food.</a></li><li>Switch to glass, ceramics, or stainless steel for food storage: plastics often contain endocrine-disrupting chemicals that affect fertility. <a href="https://www.ehn.org/bpa-pollution-2645493129.html" target="_blank" rel="noopener noreferrer">Learn more about the dangers of plastic here.</a></li><li>Ban plastic from the microwave. If you have a plastic splatter cover, use paper towel, parchment paper, or an upside-down plate instead.</li><li>Upgrade your cookware: non-stick may make life easier, but it is made with unsafe chemical compounds that seep into your food. Cast-iron and stainless steel are great alternatives.</li><li>Filter tap water. Glass filter pitchers are an inexpensive solution; if you want to invest you may opt for an under-the-sink filter.</li><li>Check your cleaning products—many mainstream products are full of unsafe chemicals. <a href="https://www.ehn.org/how-to-shop-for-cleaning-products-while-avoiding-toxics-2648130273.html" target="_blank" rel="noopener noreferrer">Check out our guide to safe cleaning products for more info</a>.</li></ul><p><strong>In the Bathroom </strong></p><ul> <li>Check the labels on your bathroom products: <em>fragrance-free, paraben-free, phthalate-free</em> and organic labels are all great signs. You can also scan the ingredients lists for red-flag chemicals such as: triclosan, parabens, and dibutyl phthalate. Use the <a href="https://www.ewg.org/skindeep/" target="_blank">EWG Skin Deep database</a> to vet your personal products.</li><li>Ditch the vinyl shower curtain—that new shower curtain smell is chemical-off gassing. Choose a cotton or linen based curtain instead.</li><li>Banish air fresheners—use natural fresheners (an open window, baking soda, essential oils) instead.</li></ul><p><strong>Everywhere Else</strong></p><ul><li>Remove wall-to-wall carpet. If you've been considering wood or tile, here's your sign: many synthetic carpets can emit harmful chemicals for years. If you want a rug, choose wool or plant materials such as jute or sisal.</li><li>Prevent dust build-up. Dust can absorb chemicals in the air and keep them lingering in your home. Vacuum rugs and wipe furniture, trim, windowsills, fans, TVs, etc. Make sure to have a window open while you're cleaning!</li><li>Leave shoes at the door! When you wear your shoes throughout the house, you're tracking in all kinds of chemicals. If you like wearing shoes inside, consider a dedicated pair of "indoor shoes" or slippers.</li><li>Clean out your closet—use cedar chips or lavender sachets instead of mothballs, and use "green" dry-cleaning services over traditional methods. If that isn't possible, let the clothes air out outside or in your garage for a day before putting them back in your closet.</li><li>Say no to plastic bags!</li><li>We asked 22 endocrinologists what products they use - and steer clear of—in their homes. <a href="https://www.ehn.org/nontoxic-products-2648564261.html" target="_blank">Check out their responses here</a>.</li></ul>
Learn More<ul><li>For more information and action steps, be sure to check out <em>Count Down: How Our Modern World Is Threatening Sperm Counts, Altering Male and Female Reproductive Development, and Imperiling the Future of the Human Race</em> by EHS adjunct scientist Shanna Swan, PhD: <a href="https://www.shannaswan.com/" target="_blank" rel="noopener noreferrer">available for purchase here.</a></li><li><a href="https://www.ehn.org/st/Subscribe_to_Above_The_Fold" target="_blank" rel="noopener noreferrer">Sign up for our Above the Fold Newsletter </a>to stay up to date about impacts on the environment and your health.</li></ul>
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