Outokumpu, renowned for its sustainable stainless steel production, has achieved yet another significant milestone by securing a coveted position among the top 50 companies globally on Corporate Knight’s esteemed Clean200 list. Notably, Outokumpu has clinched the highest rank within both the stainless steel industry and among Finnish companies, securing the 33rd spot on the prestigious list released by Corporate Knights.
The Clean200 ranking serves as a beacon, spotlighting companies at the forefront of the green transition and recognizing those spearheading the adoption of clean economy solutions while deriving substantial revenue from sustainable sources. Outokumpu’s remarkable performance underscores its unwavering commitment to sustainability, with an impressive 95% of its production originating from recycled materials, resulting in a significant reduction of its carbon footprint, up to 75% lower than the industry average.
Johann Steiner, Outokumpu’s Executive Vice President of Sustainability, People & Communications, emphasized the company’s steadfast dedication to driving the green transition. He underscored Outokumpu’s pivotal role in empowering customers to mitigate their climate impact through the adoption of sustainable innovations and materials, expressing profound pride in being acknowledged among the world’s sustainability leaders.
The Clean200 ranking, initiated by Corporate Knights and As You Sow, meticulously evaluates companies based on revenue generated from clean sources, aligning with the Corporate Knights Sustainable Economy Taxonomy. To qualify, companies must derive over 10% of their total revenues from sustainable sources. Outokumpu’s remarkable achievement reflects its substantial sustainable revenue of EUR 9,494 million, constituting an impressive 91% of its total revenue in 2022.
Collectively, the Clean200 companies amassed over $2.2 trillion in sustainable revenue in 2022, indicative of a burgeoning momentum towards sustainability within the global economy. These companies, on average, derived 54.7% of their revenues from sustainable business activities, surpassing their peers in the MSCI ACWI index. Notably, Outokumpu’s commitment to sustainability transcends revenue generation, encompassing the exclusion of activities in industries such as fossil fuels, deforestation, and tobacco, reaffirming its dedication to environmental stewardship.
As Outokumpu continues to pursue its ambitious climate targets aligned with the 1.5-degree trajectory, the company remains resolute in accelerating the green transition as an industry leader. Through its unwavering commitment to innovation and sustainability, Outokumpu epitomizes the transformative potential of businesses in combatting climate change and fostering a more sustainable future for generations to come.
