Telecommunications company Huawei Technology, iron and steel firm Baosteel Group, and General Electric have taken the top spots in the China Entrepreneur Club’s annual lists of China’s greenest companies.
The China Top 100 Green Companies list is now in its fifth year. The 2014 list was selected from over 1,300 large-sized Chinese operations. Applications from individual enterprises were also accepted in the appraisal process. Companies are evaluated out of 10 on the weighted metrics of economy, innovation, environment, society and transparency, and given an overall mark out of 10. The report lists the country’s top 50 green private enterprises, the top 20 green state-owned enterprises and the top 30 green multinationals’ Chinese operations.
Huawei topped the private enterprise list. It scored a nine on economy, a nine on innovation, an eight on environment, an eight on society and a seven on transparency. Its total score was 8.591. IT hardware firm Lenovo Group and machinery manufacturing company Sany Group took second and third spots.
Baosteel topped the state-owned enterprise list. It scored a nine on economy, a nine on innovation, an eight on environment, an eight on society and a nine on transparency. Its total score was 8.386. Household appliances company Haier Group and power generation company State Grid Corporation took the second and third spots.
General Electric topped the multinationals list with nines in the first three categories and eights in society and transparency. Its total score was 8.708. Procter & Gamble and Volkswagen took the second and third spots.
In terms of geographical distribution of the listed companies, Beijing topped the 2014 list with 24 enterprises and the IT industry was the biggest contributor.
According to statistics by the project team, 48 enterprises have made the list for five consecutive years, with an average operating revenue growth rate of about 17 percent (six companies which did not provide statistics were excluded) and an average net profit growth rate of 234 percent (six companies which doesn’t provide statistics were excluded). Among the 48 enterprises, the average stock price growth rate of the listed ones was 149 percent (eight enterprises which are not listed are excluded). These figures show the strong sustainability of these enterprises’ market competitiveness, according to the China Entrepreneur Club.
China’s energy-intensive and polluting industries continued to grow too fast in 2013, putting pressures on the environment and causing air quality to worsen further, Reuters reported in March. The country’s pollution agency said China is still too slow when it comes to reforming its resource-intensive economy, the Ministry of Environmental Protection said in a statement to mark a report on pollution in 74 Chinese cities last year.