San Francisco-based Pacific Gas and Electric Company (PG&E) has been ranked as the nation’s greenest energy company by Newsweek. The company placed first among electric and natural gas utilities, and No. 15 overall, in the annual Green Rankings of the 500-largest publicly traded companies in the United States, moving up from the third and 42nd spots in 2015.
“Earning the top position is a reflection of our efforts to protect the environment, create a clean-energy future, and build a better California for our customers and communities,” said PG&E Chairman Tony Earley.
Worldwide, PG&E ranks as the No. 2 utility on the 2016 list, and No. 31 overall. The company’s previous positions were No. 3 and No. 69, respectively.
Newsweek performs its annual assessments in partnership with Corporate Knights Capital, an independent investment research company based in Toronto, Canada, and HIP Investor Inc., a firm that rates companies and investments for their benefit or cost to society, and the associated risks or opportunities for investors.
The rankings are based on eight indicators covering energy, greenhouse gases, water, waste, green revenues, linking executive pay to sustainability, board-level committee oversight of sustainability and third-party audited environmental metrics.