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Corporate Knights (CK) is a media, research and financial information products company based in Toronto, Canada, focused on promoting an economic system where prices fully incorporate social, economic and ecological costs and benefits, and market participants are clearly aware of the consequences of their actions. The company calls such a system "clean capitalism". Founded in 2002, Corporate Knights has a media and research division, which includes the award-winning sustainable business magazine Corporate Knights, and a research division which produces corporate rankings, research reports and financial product ratings based on corporate sustainability performance. Its best-known rankings include the Best 50 Corporate Citizens in Canada and the Global 100 Most Sustainable Corporations. In June 2013, Corporate Knights was named "Magazine of the Year" by Canada's National Magazine Awards Foundation.
|First issue||June 2002|
|Country||Canada and USA|
In addition to its two divisions, Corporate Knights Inc. spearheaded the creation in 2012 of the Council for Clean Capitalism, a multi-industry group of leading Canadian companies dedicated to advocating economic and social policy changes that reward responsible corporate behaviour and remove barriers to clean capitalism. The council's 10 members include Telus, Vancity, and Teck Resources.
Corporate Knights Inc. was co-founded in 2002 by Toby A. A. Heaps and Paul Fengler. Fengler was an International Relations and Russian Language graduate, and Heaps majored in Economics and International Development. The pair created the magazine as a "halfway house between Adbusters and Forbes", according to Heaps.
The magazine was first published in the wake of the accounting scandals at Enron and WorldCom with the objective of holding companies more accountable while recognizing that "power is where the money is, and if you want to make social change, it's through business." Heaps has made clear since the magazine was founded that there's no pretending that corporations are saints. "There are no Mother Teresas here. But these are the best we've got." As such, two of the magazine's major goals has been to publicize positive business practices and rank the sustainability performance of companies.
CK has expanded both its reach and research over the past decade.[when?]
Corporate Knights magazine is a sustainable business publication focused on how companies, markets and governments are advancing social and environmental sustainability worldwide. Calling itself "the magazine for clean capitalism", it highlights and analyses trends around sustainable corporate practices and investment products. In 2012, an overhaul of the magazine's content and design was conducted. On June 6, 2013, the National Magazine Awards Foundation named Corporate Knights "Magazine of the Year". The publication was also nominated for having Best Feature Package and Best Artistic Package in 2012.
There are approximately 147,500 copies of Corporate Knights magazine distributed quarterly through the Washington Post and Canadian newspaper The Globe and Mail. The magazine is also direct-mailed to corporate and political decision makers worldwide. Its largest presence is in North America and Europe. A digital version was launched in spring 2012 through iTunes in partnership with e-publisher PixelMags, and another 10,000 digital copies are distributed through the Globe and Mail's Globe2Go e-paper delivery service.
CK Media also produces an e-newsletter and is active on social media. In 2013, the magazine launched a mobile app called CK Ranker that lets any company rank its sustainability performance and compare itself against industry peers. The magazine published its November (Winter 2013) issue on paper made from 60 per cent wheat straw, a first in North America, part of a partnership with Prairie Paper Ventures, a company co-founded by actor Woody Harrelson, who appears on the issue's cover.
The Corporate Knights research division produces corporate rankings, research reports and financial product ratings based on corporate sustainability performance. A significant portion of this research is used in the rankings and reports published in Corporate Knights magazine.
Reports and rankingsEdit
Corporate Knights magazine issues annual rankings, special reports and annual awards for companies. Some of which are listed below (date indicates the year each began):
- 2002 – Best 50 Corporate Citizens in Canada (annual ranking);
- 2003 – Sustainable MBA Ranking (ran as Knight Schools Ranking 2003 to 2012)
- 2005 – Global 100 Most Sustainable Companies (annual ranking);
- 2006 – Greenest Prime Minister (special award)
- 2007 – Diversity Report (periodic ranking);
- 2007 – Cleantech Ranking (annual ranking);
- 2012 – America's Greenest Presidents (special report);
- 2013 – Global Green MBA Survey (annual ranking);
- 2013 – Canada's Greenest Chief Executive (annual award);
- 2013 – North American Sustainable Cities Scorecard (annual ranking);
- The Global 100
In 2005, CK started the first annual list of the Global 100 Most Sustainable Corporations. This annual ranking is a comprehensive data driven analysis of the world's largest public firms. It has been recognized as a leader in transparency and industry best practices for sustainability rankings, according to SustainAbility's Rate the Raters project. The Global 100 seeks to mainstream sustainability in the business community to demonstrate that large, successful companies in a range of industries can be fiscally responsible, financially successful and focused on sustainability.
- 50 Best Corporate Citizens in Canada
Since 2001, CK has published the annual list of Canada's top corporate citizens. Companies are transparently ranked on their relative carbon, water, waste and energy impacts as well as citizenship indicators including pension fund quality, board diversity, ratio of CEO-pay to lowest paid worker, and tax dollar generation, as well as sector specific indicators such as renewable energy investments (for financial companies) and respect for human rights (for resource extraction companies).
- Cleantech Ranking
Corporate Knights began publishing a special report on the cleantech sector in 2006, when it created its Cleantech 10 and Next 10 lists of established and up-and-coming Canadian clean technology companies. A Cleantech 10 list of U.S. companies was also created in 2012 in partnership with the Cleantech Group. In 2013 the magazine shifted gears by focusing its coverage on the Cleantech Group's Cleantech 100 list of global cleantech leaders, part of an effort to better represent its North American (and global) readership.
- Global Green MBA Survey
The magazine created its annual sustainability ranking of Canadian MBA schools in 2003. Called Knight Schools, the special section periodically ranked engineering and other professional schools over the years. In 2013, a decision was made to expand the ranking beyond Canada.
Awards of Distinction
- Greenest Prime Minister
This was a one-of award. In 2006, Corporate Knights solicited the input of prominent Canadians, including Elizabeth May, Maude Barlow, Sheila Copps and Monte Hummel, to rank the environmental impact of Canadian Prime Ministers.
Selected as having accomplished the most to improve Canada's environment, Brian Mulroney was honoured at an Earth Week Gala dinner in Ottawa as the 'Greenest PM in Canadian History'. The event brought together former Prime Minister Stephen Harper, Quebec Premier Jean Charest, television host Ben Mulroney, US Ambassador David Wilkins and other dignitaries to recognize Mulroney's positive environmental impact. His government established the Acid Rain Accord, the Canadian Environmental Protection Act, the Canadian Environmental Assessment Act, the Great Lakes Action Plan, and the Convention on International Trade in Endangered Species and ratified the Montreal Protocol.
Global 100 Dinners
At the annual World Economic Forum in Switzerland, CK hosts the Global 100 Davos Dinner and announces the year's most sustainable companies. Each year the event has had a theme.
- 2006- Effects of Corporate Sustainability on Company Valuations
- 2007- The Investor as the New Regulator
- 2008- New Challenges for the Long-term Global Investor
- 2009- The Next Motor That Will Power the Global Economy
- 2010- Scaling Up Global Finance for Cleaner Capitalism
- 2011- 21st Century Balance Sheet for Cleaner Capitalism
- 2012- How Can the Bond Markets Save the Global Economy—and the Planet?
- 2013- Upgrading Credit Ratings: Putting ESG into AAA
- 2014- Focusing Capital on the Long-term
- 2015- A favourable investment climate to price carbon
- 2016- How do investors align their portfolios with a zero net carbon future?
- 2017- Achieving our 2-degree climate goals requires mainstream finance. What can be done to align the financial system so this happens at speed and scale?
- 2018- How business schools can get us to a sustainable future
Best 50 Gala
The Annual Best 50 Corporate Citizens in Canada are announced each summer at a gala in Toronto. Awards of distinction are also presented at this event.
Speakers at Corporate Knights events:
Senior Government Representatives
- Hon. Jean Charest, Premier, Quebec
- Gary Doer, Canadian Ambassador to the United States
- Rt. Hon. Stephen Harper, Prime Minister of Canada
- Preston Manning, President and CEO, Manning Centre for Building Democracy
- Rt. Hon. Paul Martin, Former Prime Minister of Canada
- Ralph Nader, Public Citizen and Former Presidential Candidate
- Hon. Danny Williams, Former Premier, Newfoundland and Labrador
Corporate & Society Leaders
- Jim Balsillie, Co-CEO, Research in Motion
- Avrim Lazar, former President and CEO of the Forest Products Association of Canada
- Dr. James Lovelock, Scientist and Originator of the Gaia Theory
- George Soros, Chairman, Soros Fund Management
- Maurice Strong, Former Under-Secretary General, United Nations
- Galen G. Weston, Executive Chairman, Loblaw Companies Limited
- James Wolfensohn, Chairman and CEO, Wolfensohn Fund Management L.P.
Notable CK IntervieweesEdit
Corporate Knights also undertakes initiatives to influence public policy, including a 2006 $100 billion carbon pricing plan for Canada to reach its Kyoto target, convening the first Energy Ministers' meeting on building a transcanadian grid for transporting green electricity from where it is generated to where it is needed, and the Option 13 initiative to make trade implications a central consideration of the Copenhagen meeting in November–December 2009.
In 2007 CK helped put together a working group to explore a Green Power Corridor summit.
Links to external studiesEdit
Prioritizing Global Reporting Initiative Indicators
The Global Reporting Initiative (GRI) created the G3 sustainability reporting guidelines as well as 14 sector-specific supplements. GRI identified these barriers to sustainable investing that must be overcome:
- 1. Lack of prioritization: When investors calculate ROI there are hundreds of indicators not deemed financially significant and if there's limited disclosure anyhow, investors naturally shy from the challenge.
- 2. Data doubts: Consensus on ESG factors is hard to come by and even when it is approached there can be uncertainty about sources, limitations and characteristics of available data.
- 3. Lack of guidance on how to integrate ESG metrics into standard valuation models: There isn't yet a default model of using ESG data once it is collected and ratified by the investor.
G3.1 is GRI's most recent iteration of its Sustainability Reporting Guidelines.
In 2010, the Prince of Wales' Accounting for Sustainability Project (A4S) and the Global Reporting Initiative announced the formation of the International Integrated Reporting Committee (IIRC).
Canadian Institute of Chartered Accountants: Environmental, Social and Governance Indicators
In 2010, the Canadian Institute of Chartered Accountants (CICA) published a report stating that mainstream institutional investors are beginning to factor environmental, social and governance (ESG) indicators into their decision making.
- Toby Heaps, Editor-in-Chief
- Adria Vasil, Managing Online Editor
- Jack Dylan, Art Director
- Erin Gardhouse, Associate Publisher
- Donna Mitchell, Copy Editor
- Sheima Benembarek, Business Development Lead
Current research staff
- Michael Yow, Director of Research
- Moshmi Desai, Senior Sustainability Research Analyst
- Wendy Shen-Juarez, Clean Revenue and Research Manager
- Toby Heaps, CEO
- Sean Flannery, Vice-Chairman
- Usha Sthankiya, Chief Financial Officer
- Alexsandra Marzocca, Executive Assistant
- "Get to know Corporate Knights: Canada's Magazine of the Year - Magazine Awards". Magazine Awards.
- The McGill Daily - McGill Alumni Launch Business Ethics Magazine Archived 2006-05-17 at the Wayback Machine
- The Globe and Mail - Glossy offers new spin on business ethics
- "Rate the Raters – Projects - SustainAbility". sustainability.com.
- "The Greenest Prime Minister". Canuck Politics.
- "CTV News - Top Stories - Breaking News - Top News Headlines". ctv.ca. Archived from the original on 2007-10-23.
- CBC News - Mulroney honoured for environmental record
- The Globe and Mail - Opposition MPs mull carbon-tax proposal
- The Globe and Mail - Ministers call for national grid
- Ralph Nader and ToHeaps (3 December 2008). "We Need a Global Carbon Tax". WSJ.
- Corporate Knights- Green Power Corridor Summit in Ottawa Archived 2012-07-30 at Archive.today
- Ralph Nader and ToHeaps (3 December 2008). "We Need a Global Carbon Tax". WSJ.
- "Canada must guarantee ethical mining practices with Bill C-300, says panel of experts". cnca-rcrce.ca. Archived from the original on 2012-05-11.
- EMC- GRI Index Archived 2012-06-12 at the Wayback Machine
- Global Reporting- G3.1 Guidelines Archived 2012-06-09 at the Wayback Machine
- "404 - Page Not Found". cica.ca.
- "404 - Page Not Found". cica.ca.