Volberda, who is director of the ACBI at the University of Amsterdam, sees the ranking as an important signal: sustainability is no longer optional – it is becoming a competitive advantage.

Sustainable leadership on the rise

According to Volberda, many listed organisations distinguish themselves through long-term vision, innovation power and transparent reporting. These frontrunners invest in circular production, reduce emissions across their value chain and experiment with new business models that accelerate the transition to a low-carbon economy. He notes that this year’s ranking shows a clear shift: more organisations now view sustainability as a driver of growth rather than a cost item. That mindset is crucial if the Netherlands wants to stay competitive in a world shaped by climate challenges and geopolitical uncertainty.

Leaders in sustainable business practices

As in the previous year, Triodos Bank ranks first. It is followed by Greenpeace (2) and organic crop protection producer Koppert (3). The latter 2 have swapped positions this year. Triodos also receives the highest rating for social sustainability and governance, while Greenpeace takes the top spot for ecological sustainability.

A growing risk: greenhushing

The research also identified a rise in 'greenhushing': companies deliberately underreport their sustainability achievements or choose not to communicate them at all. Volberda cautions that this trend can slow down the broader transition. When organisations keep successful innovations under wraps, others cannot learn from proven practices or benchmark their own progress. Transparent communication, he argues, is an essential element of responsible leadership.

How UvA research contributed to the SD400

The SD400 is a new study into sustainable business practices within the Dutch corporate sector. This year, the study was conducted for the second time by Dr Niels van der Weerdt and Professor Henk Volberda of the Amsterdam Centre for Business Innovation at the University of Amsterdam. It was commissioned by and carried out in collaboration with MT/Sprout.