UK grocer Tesco plc amongst the top 10 best performing companies in the Carbon Disclosure Project Global 500 Report.

Bank of America Corp (NYSE:BAC) is the top-ranked global financial services company in a newly released carbon report. UK grocer Tesco plc (LON:TSC) also made the top 10.

The recently released Carbon Disclosure Project (CDP) Global 500 Report bases its on the combined impact of both the Carbon Disclosure Leadership Index (CDLI) and the Carbon Performance Leadership Index (CPLI) ratings.

The report measures how well the 500 largest companies in the world disclose their greenhouse gas emissions, establish climate change strategies, set reduction targets and make performance improvements.

The top 10 best performing companies were: Bank of America, Cisco Systems, Honda Motor Company, Sony Corporation. Bayer, BMW, SAP, Tesco, Philips Electronics and Westpac Banking Corporation. Despite carbon measuring and reporting becoming widespread, some companies did not report this year, including Rosneft, Amazon.com and Apple.

CDP is backed by 551 investors with assets of $71 trillion and plays an important role in encouraging companies to measure and manage their direct and indirect carbon emissions and broader environmental footprint, as well as supporting the development of sustainable supply chain engagement.