For the second time in three years, Toyota has been named to Fortune magazine’s Change the World List. Ranking Toyota at #8 of the top 50 companies, Fortune recognized Toyota for its hydrogen strategy to reduce carbon emissions and the mass market introduction of the hydrogen fuel cell vehicle, the Mirai.
Based on the shared-value principle of “doing well by doing good,” the list recognizes leading global innovators that are making progress toward solving the world’s most pressing social or environmental problems as a key component of their competitive strategies.
“Toyota is proud to be recognized by Fortune, once again, as an agent of change,” said Jim Lentz, Toyota Motor North America chief executive officer. “As one of the world’s largest automakers, Toyota is in the unique position to shape the future of mobility. The Mirai hydrogen fuel cell vehicle is leading the way toward positive change and a more sustainable tomorrow.”
Fortune in partnership with FSG, a nonprofit social-impact consulting firm, the Shared Value Initiative, a global platform for organizations seeking business solutions to social challenges, and Professor Michael E. Porter of Harvard Business School, evaluate and rank the companies by three factors: measurable social impact, business results and degree of innovation. The final 50 Change the World honorees were then selected by the editors of Fortune based on the magazine’s own reporting and analysis.
This marks the second time in three years that Toyota has been recognized by Fortune’s Change the World list. Toyota earned the number three spot on the inaugural Change the World list in 2015 for its success with hybrid vehicles. According to the Shared Value Initiative, companies that made in a previous year are “rarely considered for a second year in a row.”
The full Fortune Change the World list is available now on Fortune’s website at http://fortune.com/change-the-world and on newsstands September 11.
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