Canfor, Cascades, Kruger Products and Transcontinental have been named among the Top 50 Corporate Citizens in Canada by Corporate Knights in its 17th annual ranking.
Quebec-based Transcontinental Inc. took the 29th spot in the 2018 ranking. The forestry and paper products sector had a strong showing, with Kruger Products, Canfor and Cascades taking 40th, 46th and 48th respectively.
The methodology for the Best 50 Corporate Citizens is based on social and environmental performance as well as governance of Canadian companies found in the public domain.
This year, Corporate Knights updated its weighting system from equal weight for each metric to a rules-based weighting guided by the relevance of each key performance indicators (KPI) for each industry, placing more emphasis on metrics that matter most for each industry. The energy KPI, for example, will carry more weight for a company in a sector that accounts for a substantial portion of total energy use (within the universe of ranked companies) than it will for a company in a sector that accounts for a relatively small portion of total energy use.
As well, a clean revenue KPI has been added. It is calculated using multiple research sources that identify potential clean revenues on a product/service segment basis. Findings of potential clean revenues of 10 per cent or more of total revenues are then confirmed via manual inspection of financial statements and sustainability reports on a company-specific basis.
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