Covanta named one of top 200 clean energy companies worldwide
Leading Energy-from-Waste provider honoured alongside Toyota, SolarCity, Tesla Motors
Covanta, a world leader in sustainable waste and energy solutions, has been ranked number 55 on the Carbon Clean 200 (Clean200), a list of the top 200 publicly traded companies worldwide based on their share of clean energy revenue. The list was compiled by As You Sow, a nonprofit organization that promotes environmental and social corporate responsibility, and Corporate Knights, a company that produces corporate rankings, research reports and financial product ratings based on corporate sustainability. Other Clean200 honorees include Toyota, Siemens, Panasonic, SolarCity, Tesla Motors and Vestas Wind.
According to the report’s authors, “The Clean200 ranks the largest publicly listed companies worldwide by their total clean energy revenues as rated by Bloomberg New Energy Finance. 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% of total revenues from clean energy sources. Over 70 of the companies on the list receive a majority of their revenue from clean energy.” More information about the methodology of the list’s ranking can be found here.
“Our intention with The Clean200 is to begin a conversation that defines what companies will be part of the clean energy future,” said Andrew Behar, CEO of As You Sow.
Covanta’s Energy-from-Waste facilities annually generate more than nine million megawatts hours of clean energy, enough to power approximately one million homes. The company is also one of the largest recyclers of metal in the United States, annually recovering more than 500,000 tons of ferrous and non-ferrous metals – enough steel to build five Golden Gate Bridges and sufficient aluminum to manufacture more than two billion beverage cans.
“We’re honored to be featured in the inaugural Clean200 list. Not only do Covanta’s Energy-from-Waste facilities generate renewable energy, they are also net reducers of greenhouse gases and help combat climate change,” said Paul Gilman, Covanta’s chief sustainability officer. “According to the U.S. EPA, for every ton of municipal solid waste processed at our facilities, greenhouse gas emissions are reduced by approximately one ton. This is due to the avoidance of methane from landfills, the offset of greenhouse gases from fossil fuel electrical production and the recovery of metals for recycling. Annually, Covanta's facilities reduce greenhouse gas emissions by 20 million tons, the equivalent of pulling approximately 4 million cars off the road for one year.”