Dive, Thrive, Survive: Companies thriving during COVID-19
Zoom, Slack, Netflix...these are just a few names that survived & thrived during COVID-19
We lift up the hood to loom into the sustainability credentials of a diverse range of companies that did not falter when the global economy shut down.
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Online communications companies are the most sustainable while retailers fare the worst.
Coronavirus has led to what some say is the worst economic crisis since the great depression. This black swan event has pushed many companies out of business and others to the brink of collapse (think Virgin Australia, Hertz and JC Penny).
But interestingly not all companies have suffered during the crisis. Indeed, many have thrived. We’ve selected a few success stories from a range of industries to further examine their sustainability credentials.
There is no doubt the Covid-19 lock-down accelerated the take up of already popular online communication technologies such as Zoom and Slack.
Bolstering companies’ abilities to manage a remote workforce, both Slack and Zoom have seen a surge in uptake over the past few months. But how do these companies fare in the sustainability stakes?
The answer is very well. Zoom scores 84, while Slack scores 82. Both well above the Sustainable Platform database average (of over 17,000 listed companies around the world across all industries).
Their biggest SDG contribution is to SDG Goal 9: Industry Innovation and Infrastructure, mostly via their provision of communication needs. These companies have no identifiable controversial industry exposure.
Third highest scorer in this group is US-based exercise and media company Peloton Interactive, with a score of 72. Offering exercise equipment, apparel and online classes, Peleton thrived during the Covid-19 pandemic, allowing customers to get their exercise fix within the comfort of their own homes.
Unsurprisingly the company contributes most to sustainability via SDG 3: Good Health and Well-being and has no controversial industry exposure.
Next, we have entertainment companies Netflix (SDG Score: 14) and Electronic Arts (SDG Score: 4) who offered customers temporary escape and valuable social connection during Covid-19.
These companies don’t offer a whole lot in terms of sustainability, the highest marginal contribution being towards Goal 9: Industry Innovation and Infrastructure. Notably, Electronic Arts would score higher if not for its controversial exposure to gambling.
*All SDG score and data are provided by Sustainable Platform based on data as at 19 June 2020.
Top contributing goals
Of all the 17 SDGs, the top 5 goals of these Covid-19 success stories are:
SDG 1: No Poverty
SDG 3: Good Health and Well-being
SDG 9: Industry, Innovation and Infrastructure
SDG 16: Peace, Justice and Strong Institutions
SDG 17: Partnerships for the goals
Find out more about the Sustainable Development Goals (SDGs).
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