The FINANCIAL -- Newsweek has named a car company as one of the world’s greenest companies, ahead of highly-regarded brands like Microsoft, Google, Nike and Coke. Toyota moved up 57 spots in Newsweek’s annual green ranking to #35 in the Global 500 and #2 in autos.
Newsweek in partnership with Corporate Knights Capital and HIP Investor evaluated the world's largest publicly-traded companies, using eight metrics to measure environmental performance. Companies were scored against their industry peers on each metric, including energy, water and waste levels, according to Toyota.
“We are proud to be recognized as one of the world’s greenest companies,” said Jim Lentz, Toyota Motor North America chief executive officer. “Through continuous improvement, our global teams have made great strides in reducing our environmental impact. From hybrids to fuel cells, Toyota is at the forefront of developing energy efficient technologies. We are deeply committed to contributing to the environment, our communities, and to leading the future of sustainable mobility.”
The world’s largest automaker is being recognized for its commitment to sustainable practices and its efforts to develop green vehicles, including the Mirai hydrogen fuel cell vehicle, which emits only water vapor. Toyota’s green initiatives saved over 93 million gallons of water in North America and reduced energy use by 22% in Toyota’s North American manufacturing plants. And Toyota Financial Services issued the auto industry’s first-ever Asset-Backed Green Bond to finance the purchase of almost 40,000 green vehicles.