ABB and Xylem make Fortune magazine's Change the World list
Fortune magazine has released its fourth annual Change the World list, a global ranking of companies whose innovative work is making a significant, positive social impact around the world.
The list is developed by the magazine in partnership with FSG, a non-profit social-impact consulting firm; the Shared Value Initiative, a global platform for organisations seeking business solutions to social challenges; and Professor Michael E Porter of Harvard Business School. Companies selected for the list must deliver measurable social impact, socially beneficial business results and high levels of innovation.
ABB and Xylem, both members of the industrial machinery sector, made the top 10 companies on the 2018 list due to their positive impact on the environment. Xylem was ranked #7 on the list, with ABB not far behind at #8.
Notable Xylem initiatives include the company’s ongoing work to help strengthen cities’ resilience so they are better equipped to cope with the impact of climate change and natural disasters. This is on top of its actions to advance smart water solutions by installing sensor-driven, software-enabled technologies that can reduce losses.
Xylem also works to treat wastewater more efficiently and helps cities cope with severe flooding and other water-related consequences of climate change. The company’s role in supporting the Thai cave rescue mission was also noted, with Xylem engineers working with Thai authorities to reconfigure the dewatering pumps in place at the cave, increasing pumping capacity and enabling the rescue of the young soccer team and their coach.
ABB, meanwhile, was recognised for its leadership in e-mobility and electric vehicle charging. The company has already installed over 7000 fast charging stations worldwide and is partnering with Electrify America to place hundreds of its Terra HP charging stations in the US in the next year. The charger can recharge an electric vehicle in eight minutes.
Over in Europe, ABB’s breakthrough TOSA bus system can flash charge a bus in just 20 seconds while passengers board and disembark. The company also recently donated 30 fast-charging stations to the city of Zurich and has also partnered with Formula E, the international electric street racing series, to spur the future of electric vehicles.
The full Change the World list can be viewed at http://fortune.com/change-the-world/.
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