The 100 Most Overpaid CEOs 2018

Are Fund Managers Asleep At the Wheel?

FOREWORD

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Most Overpaid CEOs 2017

How do funds vote on CEO compensation?

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Click the buttons to sort, and hover over the annotations on the right-hand side for more in-depth case studies.

votes against
votes for

SUBHEADING

 

 

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 In its first full year of performance through June 30 2017, the Clean 200 generated a return of 16.5% versus a decline of 1.2% for its fossil fuel benchmark the S&P 1200 Global Energy Index, and a slight 0.3% gain for the S&P Global Clean Energy Benchmark. The ten companies that contributed the most to the Clean200’s first year outperformance are all involved in the provision of products, materials and services related to energy efficiency.

In its first full year of performance through June 30 2017, the Clean 200 generated a return of 16.5% versus a decline of 1.2% for its fossil fuel benchmark the S&P 1200 Global Energy Index, and a slight 0.3% gain for the S&P Global Clean Energy Benchmark. The ten companies that contributed the most to the Clean200’s first year outperformance are all involved in the provision of products, materials and services related to energy efficiency.

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 The Clean 200 US companies outperformed the Clean 200 ex-US companies in first year of live performance, 23.4% to 15.3%.

The Clean 200 US companies outperformed the Clean 200 ex-US companies in first year of live performance, 23.4% to 15.3%.

Text that says something

GICS Sector # of Clean200 companies
Industrials 93
Information Technology 45
Utilities 22
Consumer Discretionary 16
Materials 16
Consumer Staples 3
Financials 2
Energy 1
Healthcare 1
Telecommunication Services 1
  • A bullet
  • Another bullet
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Clean200 Companies by Country

Country # of Clean200 companies
GREATER CHINA 68
UNITED STATES 34
JAPAN 20
GERMANY 9
INDIA 7
SOUTH KOREA 7
CANADA 5
SWEDEN 5
DENMARK 4
IRELAND 4
UNITED KINGDOM 4
BRAZIL 3
NETHERLANDS 3
SPAIN 3
SWITZERLAND 3
AUSTRALIA 2
FINLAND 2
GREECE 2
NEW ZEALAND 2
THAILAND 2
FRANCE 2
AUSTRIA 1
BELGIUM 1
CHILE 1
ITALY 1
KUWAIT 1
LUXEMBOURG 1
MEXICO 1
PHILIPPINES 1
TURKEY 1
 

The Clean200 Methodology

The Clean200: The biggest 200 public companies ranked by green energy revenues, was first calculated on July 1, 2016 and publicly released on August 15, 2016 by Corporate Knights and As You Sow and now updated with data through the end of 2016.

The Clean200 are listed by their estimated green revenues in USD. The dataset is developed by multiplying a company’s most recent year-end revenues by its BNEF New Energy Exposure Rating mid-point. In cases where companies disclosed their clean energy revenues, this number was verified to ensure consistency and, in some cases, used to override the BNEF data. In order to be eligible, a company must have a market capitalization greater than $1 billion (end of Q3 2017) and earn more than 10% of total revenues from New Energy14 sources.

The Clean200 uses negative screens. It excludes all oil and gas companies and utilities that generate less than 50% of their power from green sources, as well as the top 100 coal companies measured by reserves, top 100 weapons producers, as well as laggards on tropical deforestation15, and child or forced labor and companies who engage in negative climate lobbying.

 
Clean200 Negative Screens Criteria Number of Companies Excluded
Oil and Gas SASB SICS Subsector = oil & gas 4
Coal 100 Top 100 companies by coal reserves 2
Non-Green Utilities Any utility that derives less than 50% revenue from green sources 49
Top 100 Weapons The SIPRI Top 100 arms-producing and military services companies in the world 4
Tropical Forest Harm Scores less than 4 on Forest 500 scale or are on the As you Sow/Friends of the Earth Deforestation Free Funds Tool 6
Child/Forced Labor Scores in bottom half of Know the Chain rating 3
Negative Climate Lobbying Scores E or lower on Influence Map rating 0

The Clean200 List

June 30, 2017

 
Rank Name
1SIEMENS AG-REG
2TOYOTA MOTOR CORP
3SCHNEIDER ELECTRIC SE
4ABB LTD-REG
5PANASONIC CORP
6VESTAS WIND SYSTEMS A/S
7BOMBARDIER INC-B
8INNOGY SE
9JOHNSON CONTROLS INTERNATION
10SSE PLC
11PHILIPS LIGHTING NV
12EMERSON ELECTRIC CO
13TESLA INC
14KONINKLIJKE PHILIPS NV
15UMICORE
16SIEMENS GAMESA RENEWABLE ENE
17EATON CORP PLC
18OSRAM LICHT AG
19SHARP CORP
20DONG ENERGY A/S
21XINJIANG GOLDWIND SCI&TECH-A
22NORDEX SE
23SUNPOWER CORP
24ACUITY BRANDS INC
25BYD CO LTD-H
26KINGSPAN GROUP PLC
27BROOKFIELD RENEWABLE PARTNER
28CHINA LONGYUAN POWER GROUP-H
29GCL-POLY ENERGY HOLDINGS LTD
30ANDRITZ AG
31INGERSOLL-RAND PLC
32FIRST SOLAR INC
33SVENSKA CELLULOSA AB SCA-B
34KYOCERA CORP
35TBEA CO LTD-A
36WACKER CHEMIE AG
37TE CONNECTIVITY LTD
38SPIE SA
39DOOSAN HEAVY INDUSTRIES
40CHINA AGRI-INDUSTRIES HLDGS
41SHIN-ETSU CHEMICAL CO LTD
42APPLIED MATERIALS INC
43NIDEC CORP
44CHINA EVERBRIGHT INTL LTD
45SENVION SA
46ROCKWOOL INTL A/S-B SHS
47SUMITOMO FORESTRY CO LTD
48HYOSUNG CORPORATION
49COVANTA HOLDING CORP
50REPUBLIC SERVICES INC
51SAMSUNG SDI CO LTD
52EBARA CORP
53BORGWARNER INC
54ITRON INC
55SUZLON ENERGY LTD
56NOVOZYMES A/S-B SHARES
57LS CORP
58PRYSMIAN SPA
59HANWHA CHEMICAL CORP
60EDP RENOVAVEIS SA
61QUANTA SERVICES INC
62GCL SYSTEM INTEGRATION TEC-A
63EMCOR GROUP INC
64NIBE INDUSTRIER AB-B SHS
65HELLA KGAA HUECK & CO
66LONGI GREEN ENERGY TECHNOL-A
67INFINEON TECHNOLOGIES AG
68CREE INC
69XIANGTAN ELECTRIC MANUFACT-A
70SUEDZUCKER AG
71DELTA ELECTRONICS INC
72DIC CORP
73MERCURY NZ LTD
74ZHEJIANG CHINT ELECTRICS-A
75AZBIL CORP
76XJ ELECTRIC CO LTD-A
77HUANENG RENEWABLES CORP-H
78HITACHI HIGH-TECHNOLOGIES CO
79CHINA HIGH SPEED TRANSMISSIO
80OWENS CORNING
81CAVERION CORP
82HUADIAN FUXIN ENERGY CORP -H
83OCI CO LTD
84DONGFANG ELECTRIC CORP LTD-A
85BHARAT HEAVY ELECTRICALS
86RISEN ENERGY CO LTD-A
87SMA SOLAR TECHNOLOGY AG
88TIANJIN ZHONGHUAN SEMICOND-A
89ATLANTICA YIELD PLC
90KINDEN CORP
91CNPC CAPITAL CO LTD-A
92TOFAS TURK OTOMOBIL FABRIKA
93SANAN OPTOELECTRONICS CO L-A
94TERRAFORM POWER INC - A
95NEMAK SAB DE CV
96SUNGROW POWER SUPPLY CO LT-A
97SAO MARTINHO SA
98NARI TECHNOLOGY CO LTD-A
99MOBILE TELECOMMUNICATIONS CO
100JIANGSU ZHONGLI GROUP CO L-A
101MLS CO LTD-A
102SEOUL SEMICONDUCTOR CO LTD
103STANLEY ELECTRIC CO LTD
104EPISTAR CORP
105SHANGHAI AEROSPACE AUTOMOB-A
106ANALOG DEVICES INC
107XINYI SOLAR HOLDINGS LTD
108SIG PLC
109HITACHI CAPITAL CORP
110HONGFA TECHNOLOGY CO LTD-A
111GS YUASA CORP
112REGAL BELOIT CORP
113KAIDI ECOLOGICAL-A
114ROHM CO LTD
115NEXTERA ENERGY PARTNERS LP
116NINGBO SANXING ELECTRIC CO-A
117VALMET OYJ
118ENERGY DEVELOPMENT CORP
119JIANGSU ZHONGTIAN TECHNOLO-A
120SACYR SA
121CHINA SHIPBUILDING INDUSTR-A
122ORMAT TECHNOLOGIES INC
123WEG SA
124ZHEJIANG YANKON GROUP CO L-A
125SHENZHEN DESAY BATTERY TEC-A
126SMITH (A.O.) CORP
127TOKUYAMA CORP
128KYOWA EXEO CORP
129TIMKEN CO
130SUZHOU DONGSHAN PRECISION-A
131ARCADIS NV
132HANERGY THIN FILM POWER GROU
133HANGZHOU FIRST APPLIED MAT-A
134JIANGSU AKCOME SCIENCE & T-A
135TELLHOW SCI-TECH CO LTD-A
136TRIMBLE INC
137OC OERLIKON CORP AG-REG
138NEW FLYER INDUSTRIES INC
139GUANGDONG BAOLIHUA NEW-A
140CPFL ENERGIAS RENOVAVEIS
141SHENZHEN KAIFA TECHNOLOGY-A
142BADGER METER INC
143PERKINELMER INC
144TATA CHEMICALS LTD
145CHINA XD ELECTRIC CO LTD-A
146WOODWARD INC
147CHINA BAOAN GROUP-A
148SHENZHEN CLOU ELECTRONICS-A
149HEXCEL CORP
150BEIJING SIFANG AUTOMATION-A
151SOC QUIMICA Y MINERA CHILE-B
152TETRA TECH INC
153JIANGXI SPECIAL ELECTRIC -A
154CSR LTD
155EXIDE INDUSTRIES LTD
156SWECO AB-B SHS
157SUMCO CORP
158SIMPLO TECHNOLOGY CO LTD
159SHENZHEN JIAWEI PHOTOVOLTA-A
160FAR EAST SMARTER ENERGY CO-A
161COFCO BIOCHEMICAL CO LTD -A
162MERIDIAN ENERGY LTD
163JM AB
164XINYI GLASS HOLDINGS LTD
165GUANGDONG EAST POWER CO LT-A
166COMFORT SYSTEMS USA INC
167IDFC LTD
168PATTERN ENERGY GROUP INC
169THERMAX LTD
170TECO ELECTRIC & MACHINERY
171FOSHAN NATIONSTAR OPTOELEC-A
172HENGDIAN GROUP DMEGC -A
173VEECO INSTRUMENTS INC
174TITAN WIND ENERGY SUZHOU-A
175HONGLI ZHIHUI GROUP CO LTD-A
176ARCPLUS GROUP PLC-A
177SICHUAN CHENGFEI INTEGRAT -A
178HEXING ELECTRICAL CO LTD-A
179ZHONGTONG BUS & HOLDING CO-A
180MYTILINEOS HOLDINGS S.A.
181DELTA ELECTRONICS THAI PCL
182CSG HOLDING CO LTD - B
183INNERGEX RENEWABLE ENERGY
184ENERGY ABSOLUTE PCL
185NORTHWESTERN CORP
186ESCO TECHNOLOGIES INC
187DIALOG SEMICONDUCTOR PLC
188BEIJING NEW BUILDING MATER-A
189UNIVERSAL DISPLAY CORP
190WUXI HUAGUANG BOILER CO-A
191BEIJING JINGYUNTONG TECHNO-A
192NISSIN ELECTRIC CO LTD
193TRANSALTA RENEWABLES INC
194APOGEE ENTERPRISES INC
195CLEANAWAY WASTE MANAGEMENT L
196HUNAN CORUN NEW ENERGY CO-A
197FAGERHULT AB
198FOSHAN ELECTRICAL & LIGHT-B
199ZHEJIANG NARADA POWER SOUR-A
200HAVELLS INDIA LTD
 

DISCLAIMER

The aggregated data comprising the Clean200™ represents a snapshot of the top-ranked “clean” companies as measured by total green energy revenue based on a methodology developed by Corporate Knights and As You Sow from data in the Bloomberg New Energy Finance database. The list should not be considered current or complete, or a substitute for financial data provided by a licensed financial advisor. Estimation methodologies are subject to limitations in modelling and measurement.

The information provided in the Clean200 and in this report is provided “AS IS” without warranty of any kind. Corporate Knights and As You Sow each makes no representations and provides no warranties regarding any information or opinions provided herein, including, but not limited to, the advisability of investing in any particular company or investment fund or other vehicle. While we have obtained information believed to be objectively reliable, neither As You Sow nor Corporate Knights, or any of each of their employees, officers, directors, trustees, or agents, shall be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any information contained herein, including, but not limited to, lost profits or punitive or consequential damages. Past performance is not indicative of future returns.

As You Sow and Corporate Knights do not provide investment, financial planning, legal, or tax advice. We are neither licensed nor qualified to provide any such advice. The content of our programming, publications and presentations is provided for informational and educational purposes only, and should not be considered as information sufficient upon which to base any decisions on investing, purchases, sales, trades, or any other investment transactions. We do not express an opinion on the future or expected value of any security or other interest and do not explicitly or implicitly recommend or suggest an investment strategy of any kind.

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