Green energy dominates FutureBrand Index, with Apple pushed out of the top five for first time

September 28, 2022

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Source: AP/Eric Risberg.

Green energy companies have topped this year’s FutureBrand Index, eclipsing the future-focused technology brands that dominated last year’s list, and pushing tech giant Apple out of the top five for the first time since the global study began.

Clean energy giant NextEra Energy claimed the top spot on the index, followed by Reliance Industries and electric battery innovator CATL.

Tata Consultancy Services sits fourth on the list, while Meta Platforms, Inc. has secured fifth place, following its rebrand from Facebook in 2021.

The FutureBrand Index, now in its eighth year, is a global study that reorders PwC’s Global Top 100 Companies by Market Capitalisation on perception strength, rather than financial strength, drawing on research with a worldwide sample of more than 3000 informed professionals.

The Australian companies featured in the index are BHP (ranked 60) and Commonwealth Bank (ranked 91).

Speaking to SmartCompany, FutureBrand Australia CEO Rich Curtis says with all the instability and uncertainty in the world, it’s never been more important that we study and understand what it takes to transform brands so businesses grow.

“This latest edition of the FutureBrand Index highlights how the strongest brands are perceived to be ‘moving ahead’ as a result of focusing on people’s wellbeing and inspiring change for the better. Consequently, it’s no coincidence that these brands are solving our world’s biggest challenges,” he said.

“What’s more, we’re seeing B2B brands continue their upward trend, once again leading the way — eight out of the top ten in this year’s Index are B2B brands perceived to be at the forefront of the innovations that will shape our future.

Curtis nominated BHP as one example of an Australian B2B brand that is “benefitting from a strong vision and clear future focus”.

“It’s these attributes that will make BHP highly resilient if and when a recession hits our local economy, a key benefit of building a strong brand,” he said.

Commonwealth Bank has re-entered the index this year, having also re-entered PwC’s Top 100 Companies, and Curtis says “this financial growth is testament to the increase in the strength of its brand perceptions”.

“Year-on-year, our research tells us that brands are created with purpose but they’re ultimately defined by the everyday experience. By strengthening that connection, your brand gives your business a measurable competitive advantage — so that more people will want to work for or buy from you.”

With B2B companies, particularly those focused on innovation around green energy and sustainable solutions, continuing their march to the top of the rankings, FutureBrand said this reflects the fact that ‘climate change and finite resources’ are now seen as the fastest-growing threat to business success.

FutureBrand Australia head of strategy Victoria Berry says with the benefit of almost a decade of FutureBrand Index data to draw from, it is clear that what it takes for brands and businesses to become future-proof is constantly evolving.

“What was once all about delivering consistency across every touchpoint is now a question of demonstrating agility and adaptability to suit the needs of your customers and employees alike,” she said.

The rest of the companies in the top 10 include Invidia, Apple, AbbVie, TSMC and ASML.