Sustainable Companies Make More Money, But Does Anyone Trust Them?

Even in a volatile market, the 100 Best Corporate Citizens still beat the S&P 500. But with trust in business declining in the United States, companies still have work to do in moving from disclosure to communication that reaches and resonates with the public.

New 3BL research creates an even stronger link between corporate sustainability leadership and financial success. 

In 2024, 3BL conducted the first backtesting study of the 100 Best Corporate Citizens ranking which revealed cumulative returns 4.2% higher than the S&P 500 from January 2022 to September 2024. 

We expanded the backtest in 2025 for a more comprehensive view of how sustainability performance and market value intersect. The 100 Best Corporate Citizens still beat the market, even in an otherwise volatile year: 

• Annual return for companies recognized among the 100 Best Corporate Citizens was 2.2% higher than the S&P 500 from January 2022 to July 2025. 
• Those that stayed the most consistent and placed on the ranking multiple times from 2020 to 2025 saw returns up to 14% higher than the S&P benchmark.   

Compelling as this evidence is, the broader conversation is nuanced. Even as scores for the 100 Best Corporate Citizens increase consistently year over year — an indication of continuous improvement in sustainability performance and disclosure among U.S. companies — public perception often reflects the opposite. 3BL’s latest report takes a closer look at this disconnect. 

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