A new ranking put out by Time Magazine is naming the top companies in the world for sustainability, and telecommunication company Telus has been placed among some pretty famous global leaders.

Telus, headquartered in Vancouver, has been named above Rogers and Bell for its green initiatives. The company's CEO, Darren Entwistle, says it is very proud to be recognized for the distinction and its "ambitious environmental and sustainability targets to help ensure the well-being of our societies."

According to the article posted online Tuesday, Telus' commitment to the climate and score of 77.99 earned it a spot at 21 out of 500, beating out a lot of big worldwide competitors.

It's the second highest placing for a Canadian company on the list; the highest was Stantec, a professional services and consulting company, which landed at number 14.

The top spot went to France's Schneider Electric which "creates software and services for energy management. It has not only set ambitious targets to reduce its own emissions—carbon neutral by 2025—but also helps its customers reduce emissions and become more energy efficient through its Sustainability Business."

Other notable entries? Visa, Mastercard, Mercedes-Benz, lululemon, Paypal, AstraZeneca, and CN were also in the top 500. View the full list here.

While many of the companies were recognized for shifting their operations to paperless or other offerings, many manufacturing or biomedical companies were honoured for sustainability attempts through their processes, such as reducing plastic waste.

Moncler, Italian luxury fashion company, placed third. While many fashion brands are criticized for being fast-fashion, Moncler uses recycled materials and recycles the majority of its nylon scraps and uses renewable energy to do so.

"While we take pride in this achievement, we are aware much remains to be done," said Remo Ruffini, chairman and CEO of Moncler S.p.A in 2023.