Crocodile Economics Dashboard
This dashboard visualises absolute emissions–revenue decoupling for 977 companies across multiple datasets: CDP disclosers (global high-emitters and A-List companies), OrgData (Swedish and Nordic corporate sustainability reports), and the Emissions Leaders database (curated high-revenue companies). Each company is shown as a "crocodile jaw" chart — a green revenue line and a terracotta emissions line, both indexed to a shared base year of 0%. When the jaw opens upward, the company is genuinely decoupling: growing revenue while cutting absolute emissions.
The dashboard classifies all companies into four categories — Strong Decoupler, Partial Decoupler, Coupling, and Excluded — and provides toggles to control which categories are visible in the chart grid.
Company Categories & Classification
Every company in the dataset is classified into one of four categories based on its revenue and emissions trajectory from its effective base year to its most recent reporting year. Classification uses only paired data points — years where both revenue change and emissions change are simultaneously available.
Revenue grew and emissions fell, with a gap of at least 10 percentage points, at least 3 paired data points, and the revenue line above the emissions line in at least 60% of all years. This is the most demanding tier — it requires genuine, sustained, material decoupling. Visible by default.
At least one direction is improving — revenue growing, or emissions falling — but the company does not yet meet all four strong decoupler criteria. Includes companies that are decarbonising without growth, growing without yet cutting emissions, or decoupling but with insufficient data or a gap below 10 pp. Hidden by default; enable with Partial: On.
Revenue and emissions are moving in the same direction — both up, both down, or revenue falling while emissions rise. No decoupling signal is present. These companies are included in the dataset for completeness and analytical context. Hidden by default; enable with Coupling: On.
Fewer than 2 usable data points (years where either revenue or emissions is available). This includes companies in their first year of absolute emissions reporting, where the most recent year is the established baseline and decoupling analysis will begin once a second year of data is available. Additionally, 91 companies (S123) with sufficient data points are classified as no_data due to classification rules R6/R7 — these appear in the Excluded section when the toggle is on. As new CDP reporting cycles are added, sparse companies may become classifiable. Hidden by default; enable with Excluded: On.
The header shows 911 Companies (analysable ≥ 2 pts), 128 Strong, 211 Partial, 66 Excluded (sparse). Coupling (507) and no_data (91) companies within the analysable set are hidden by default and revealed via the Coupling and Excluded toggles. 128 + 211 + 507 + 91 + 66 = 1,003 — the 26 excess reflects sparse coupling companies counted in both the sparse and coupling groups. Total unique companies: 977 ✓
A company that initially qualifies as a Strong Decoupler is downgraded to Partial if its end-year absolute emissions have rebounded significantly from their prior minimum. Specifically, R6 triggers when both conditions hold: (a) end-year absolute emissions exceed the prior minimum by more than 50% (genuine rebound from low point), and (b) end-year absolute emissions still exceed 30% of the base-year level (not a deep absolute reducer). The dual condition protects companies with deep absolute reductions (e.g. LS Electric at −81% of base) while correctly catching companies where emissions have rebounded close to base levels (e.g. Latour at −9%, Telia at −52%).
Investment holding companies that report consolidated fair-value changes in their investment portfolio as "revenue" are excluded from all classification categories. When this figure turns negative in any year (a portfolio loss), percentage-change calculations become mathematically invalid and economically misleading. Currently applies to Investor AB and Industrivärden, both of which reported negative "revenue" in 2022 due to portfolio fair-value losses. These companies appear in the Excluded section with an orange banner explaining the exclusion.
When a company expands its Scope 3 boundary mid-series (e.g. adding Category 11 — Use of Sold Products), the post-break years are flagged with METHODOLOGY_BREAK. Classification uses only the pre-break rows to avoid penalising companies for improved disclosure. Post-break rows are still shown in the Company Detail Modal with an amber highlight and a warning banner explaining the change. Currently applies to Wärtsilä (Cat 11 added in 2024) and ABB (Cat 11 added in 2022).
Visibility Toggles
Three opt-in toggles in the filter bar control which company categories appear in the chart grid. All three are Off by default — the default view shows only the 128 strong decouplers (S1+2+3). Toggles can be combined freely.
| Control | Options / Default | Purpose |
|---|---|---|
| ↗ Partial: Off/On | Default: Off | Colour: Amber | Show the 211 partial decouplers alongside strong decouplers (S1+2+3). Grid expands to 339 companies. Useful for identifying companies making progress toward full decoupling. |
| ↔ Coupling: Off/On | Default: Off | Colour: Orange | Show the 507 coupling companies — those where revenue and emissions are moving in the same direction (S1+2+3). Grid expands to 820 analysable companies. Useful for comparative analysis of companies with no decoupling signal. |
| ⊘ Excluded: Off/On | Default: Off | Colour: Red | Show the 66 sparse companies (< 2 usable pts) plus the 91 no_data companies (R7/SINGLE_YEAR) with sufficient data. Grid expands to include all 977 companies. Useful for inspecting data-sparse companies, first-year baseline reporters, and companies excluded for invalid revenue metrics. |
Scope & Scale Controls
Two additional controls in the top toolbar affect which emissions scope is analysed and how chart axes are scaled.
| Control | Options / Default | Purpose |
|---|---|---|
| Scope (top-right) | S1+2 / S1+2+3 (default) | Switch between Scope 1+2 (direct + purchased energy emissions, 923 total companies, 855 analysable) and Scope 1+2+3 (full value chain, 977 total, 911 analysable). S1+2+3 is the more comprehensive measure but some companies only report Scope 1+2. |
| Y-axis scale | ±50% / ±100% / Auto (default) | Fix a consistent scale across all chart cards for cross-company comparison (±50% or ±100%), or let each card scale independently to its own data range (Auto). Auto is recommended for initial exploration; fixed scales are better for side-by-side comparison. |
| Min Pts | All / 1+ / 2+ (default) / 3+ | Hide companies with fewer than the selected number of paired data points. Default 2+ removes sparse companies. Increasing to 3+ restricts the view to companies with richer time series. |
Filtering the Dataset
Multiple independent filters can be combined freely to narrow the chart grid and leaderboard to a specific subset of companies.
Company Selection Panel
Click the Companies button in the toolbar to open a slide-out drawer listing all companies currently visible in the grid. Use this to build a curated view — for example, hide all and then selectively re-enable specific companies for a focused comparison.
Visibility state is not persisted — refreshing the page resets all companies to visible.
Scope Variants — Scope 1+2 vs Scope 1+2+3
The dashboard supports two emissions scope variants, selectable via the Scope 1+2 and Scope 1+2+3 buttons in the top-right of the header. The active scope controls which emissions series is used for classification, chart rendering, and all gap calculations.
| Metric | Scope 1+2 (S12) | Scope 1+2+3 (S123) |
|---|---|---|
| Emissions covered | Direct (Scope 1) + energy indirect (Scope 2) | S1+2 plus all value-chain emissions (Scope 3) |
| Total companies | 923 | 977 |
| Analysable (≥ 2 pts) | 855 | 911 |
| Strong Decouplers | 202 | 128 |
| Partial Decouplers | 239 | 211 |
| Coupling | 331 | 507 |
| No Data (R7/flag, ≥ 2 pts) | 109 | 91 |
| Sparse / Excluded (< 2 pts) | 68 | 66 |
| ERI Members | 14 | 32 |
| CDP A-List companies | 395 | 423 |
| Default view | No | Yes (dashboard default) |
Scope 3 supply-chain and value-chain emissions are highly volatile — they fluctuate with supplier changes, product mix, and customer behaviour, often independently of a company's own operational decisions. Many companies that show clean Scope 1+2 decoupling are pushed into the Partial or Coupling category when Scope 3 is included, because their supply-chain emissions offset their direct reductions. S12 therefore rewards companies that have achieved operational decoupling; S123 applies the more demanding test of full value-chain decoupling.
Use Scope 1+2+3 (the default) for a comprehensive view of a company's total climate impact, including its supply chain. This is the most demanding and internationally comparable measure. Use Scope 1+2 to focus on emissions that are directly under a company's operational control, or when Scope 3 data quality is a concern. Comparing the two views for the same company can reveal whether decoupling is driven by operational improvements or is masked by supply-chain volatility.
Not all companies in the dataset report Scope 3 emissions. The S12 dataset has 923 total companies (vs 977 for S123) because some companies only report Scope 1+2 without Scope 3 breakdowns. The 54-company difference represents companies with partial scope reporting. Conversely, some companies appear only in S123 because their Scope 3 data was sourced from annual reports while their S12 data was not separately extracted.
Scope 1: Direct emissions from owned or controlled sources (e.g. combustion in company facilities and vehicles).
Scope 2: Indirect emissions from purchased electricity, steam, heat, or cooling.
Scope 3: All other indirect emissions in a company's value chain — upstream (suppliers, raw materials) and downstream (product use, end-of-life). Includes 15 categories; Category 11 (Use of Sold Products) is often the largest for industrial companies.
Charts Tab — Chart Grid
The Charts tab displays a paginated grid of 30 company cards per page, sorted by decoupling gap descending (strongest decouplers first). Each card contains:
Click any card to open the Company Detail Modal with a full-size chart, year-by-year data table, and company metadata.
Strong Decouplers Tab — Leaderboard
The Strong Decouplers tab shows a sortable table of the 128 strong decouplers (S1+2+3), ranked by decoupling gap descending by default. This tab is unaffected by the Partial, Coupling, and Excluded toggles — it always shows exactly the companies that meet all four strong decoupler criteria. All columns are sortable by clicking the column header.
| Control | Options / Default | Purpose |
|---|---|---|
| Company | A → Z | Sort alphabetically by company name |
| Revenue Δ% | High → Low | Sort by total revenue change from base year to end year |
| Emissions Δ% | Low → High | Sort by total emissions change (most reduced first) |
| Gap (pp) | High → Low (default) | Sort by decoupling gap in percentage points — the primary ranking metric |
| Sector / Country / Source | A → Z | Sort by categorical attributes for grouping |
Company Detail Modal
Clicking any chart card or leaderboard row opens a full-screen modal with detailed information about that company.
Company name, country, sector, and industry. Companies on the CDP A-List display a A★ CDP A-List badge. ERI Member companies display a ★ ERI Member badge. The stated base year (CDP-reported) and effective base year (first paired year) are shown — these may differ.
The crocodile jaw chart at full resolution. Only paired data points are shown — years where both revenue and emissions data are simultaneously available. The chart always starts at 0% at the effective base year. Hover any data point to see exact values.
A four-metric bar showing the analysis period (e.g. 2021–2024), total revenue Δ%, total emissions Δ%, and the overall decoupling gap in percentage points.
One row per paired reporting year showing revenue Δ%, emissions Δ%, and the gap for that year. The base year row is marked "(base)" and shows 0% for both series. Rows where the gap is positive are highlighted green; negative rows are highlighted red. Rows with a methodology break flag are highlighted amber with a warning icon and tooltip.
When a company has rows flagged as METHODOLOGY_BREAK (e.g. Wärtsilä from 2024, ABB from 2022), an amber banner appears at the top of the modal explaining the scope boundary change. The classification is computed using only pre-break rows, but all years are shown in the chart and table for full transparency.
ERI Member Companies
Exponential Roadmap Initiative (ERI) Members
The ★ ERI Member badge identifies companies that are signatories of the Exponential Roadmap Initiative — a science-based framework committing members to halve their emissions by 2030 and reach net zero by 2050, in line with the 1.5°C pathway.
The dashboard currently tracks 32 ERI member companies in the S1+2+3 dataset (14 in S1+2). ERI membership is an indicator of ambition and commitment — it signals that a company has formally pledged to follow the Exponential Roadmap methodology. Combined with the decoupling classification, it enables a nuanced view of whether stated ambition is translating into measurable emissions–revenue separation.
The strongest signal in the dataset — the company has both committed to the 1.5°C pathway and demonstrated measurable absolute decoupling. Ambition and action are aligned.
The company has made a formal commitment but has not yet achieved full decoupling. This may reflect a transition in progress, recent SBTi target approval, or structural sector constraints. The ERI framework is forward-looking — membership precedes performance.
Some ERI members are in the Excluded section because they have only recently begun reporting absolute GHG emissions. For example, Axel Johnson AB published its first full-group absolute Scope 1+2+3 figures in its 2024 Annual Review, establishing 2024 as the baseline year. Prior years used an intensity metric (kg CO₂e per SEK million) covering only Scope 1+2 and partial Scope 3, which is not comparable to the full value-chain absolute reporting from 2024. Decoupling analysis for these companies will begin once a second year of absolute data is available.
Use the ERI filter in the filter bar to show only ERI member companies in the chart grid and leaderboard. The Ambition vs. Action Matrix (A×A Matrix) provides a dedicated view of ERI members plotted against their decoupling classification.
Inflation-Adjusted Revenue
The dashboard provides an Inflation-Adjusted revenue mode alongside the standard Reported revenue figures. This allows you to separate genuine business growth from price-level increases driven by inflation.
The Reported Revenue / Inflation-Adjusted toggle appears in the filter bar. Switching to Inflation-Adjusted changes the green revenue line in every chart card, the leaderboard column, and the company detail modal table to show inflation-adjusted figures.
Revenue as filed by the company, converted to SEK at a fixed annual-average exchange rate. The FX conversion is currency-neutral — the same rate is applied to every year, so the percentage change reflects the company's local-currency growth only.
The same SEK figure deflated year-by-year using the World Bank GDP deflator for the company's home country, then rebased to the analysis base year. Removes the effect of price-level rises so that only real volume and mix changes remain.
Step 1 — Deflator series: The World Bank GDP Deflator (NY.GDP.DEFL.KD.ZG) is used as the inflation index for each company's home country. One series per country covers 2019–2024.
Step 2 — Cumulative inflation factor: Annual deflator rates are compounded from the base year to the reporting year. Example — Sweden 2020→2024: (1+0.0271)×(1+0.0603)×(1+0.0583)×(1+0.0301) = 1.187.
Step 3 — Real revenue: revenue_real = Revenue_SEK ÷ inflation_factor. This expresses the reported revenue in base-year prices.
Step 4 — Real revenue Δ%: (revenue_real ÷ Baseline_Revenue − 1) × 100. This is the figure shown in charts and the leaderboard when Inflation-Adjusted mode is active.
When Inflation-Adjusted mode is active, the year-by-year table in the company modal gains two additional columns:
- GDP Defl. % — the annual World Bank GDP deflator rate for that company's country in that reporting year (e.g. +5.68% for UK in 2022).
- Revenue Δ% (Real) — the inflation-adjusted revenue percentage change from the base year, shown in violet.
The Revenue (SEK) column header also shows the original reporting currency as a small note (e.g. "orig. GBP") for non-Swedish companies, confirming that the SEK values were converted at a fixed exchange rate.
The Strong Decouplers leaderboard always shows both Revenue Δ% (Reported) and Revenue Δ% (Inflation-Adjusted) columns side by side, regardless of the toggle state. The Inflation-Adjusted column is shown in violet. Both columns are sortable. A dash (—) indicates no inflation-adjusted data is available for that company (typically because no revenue anchor year exists in the dataset).
Inflation-adjusted figures are available for approximately 75–80% of rows in the dataset. The remaining ~20–25% are null because the company has no Revenue_SEK value in any year (genuine missing data) or because the base-year row has no revenue anchor. These companies display their Reported Revenue figure unchanged when Inflation-Adjusted mode is selected, and show a dash in the leaderboard's Inflation-Adjusted column.
Data Sources & Coverage
The dashboard integrates four datasets covering different company populations and time ranges. Revenue data is denominated in Swedish Krona (SEK) using annual average FX rates for multi-currency conversion.
| Dataset | Companies (S123) | Coverage | Notes |
|---|---|---|---|
| CDP Disclosers | 652 | 2019–2024 CDP cycles | Global companies disclosing via CDP; includes Top 200 high-emitters and A-List companies; revenue enriched from CDP 2025 Summary multi-currency data |
| OrgData (Swedish/Nordic) | 190 | Variable per company (2015–2025) | Swedish and Nordic corporate sustainability reports; highest data quality priority — OrgData rows override CDP rows for the same company |
| Emissions Leaders DB | 128 | Variable per company (2015–2025) | Curated Excel database of high-revenue companies (Investor AB portfolio, ERI members, Nordic large-caps); cross-verified against annual reports |
| Other (Annual Reports) | 7 | Variable | Individual company annual reports and sustainability reports (e.g. Axel Johnson, Icebug, Houdini Sportswear, Ragnells) |
When multiple revenue sources are available for the same company-year, the following priority order applies:
- OrgData / Annual Report — directly extracted from audited annual reports; most accurate base year alignment
- CDP Q1.4.1 — company-reported revenue in CDP questionnaire; uses company's own accounting boundary
- CDP 2025 Summary — multi-currency revenue from CDP bulk export, converted to SEK using annual average FX rates
When a company appears in both OrgData and CDP datasets, OrgData takes precedence as it has undergone more rigorous data quality review and uses the company's own stated base year. Revenue coverage across both JSON databases is approximately 86% of all rows (rows with Revenue_SEK > 0).
How Charts Are Built
Understanding how the charts are constructed helps interpret what you see — particularly when a company's stated base year differs from the chart's starting point.
CDP companies often report emissions data for years before revenue data is available (or vice versa). The chart uses the effective base year — the first year where both revenue and emissions data are simultaneously available — as the 0% starting point. The stated base year (what CDP originally reported) is shown separately in the detail modal and may be earlier. For example, Getlink's stated base year is 2014 but its effective base year is 2021.
When the effective base year differs from the stated base year, both series are chain-rebased using the formula: new_pct(Y) = ((1 + raw_pct(Y)/100) / (1 + raw_pct(paired)/100) − 1) × 100. This ensures both lines start at exactly 0% at the effective base year without altering the relative shape of the series.
Only years where both revenue change and emissions change are non-null are included in the chart. Years with only emissions data or only revenue data are excluded. This prevents misleading spikes or dips before the paired series begins and ensures the chart always starts at 0% at the effective base year.
The green shaded area between the revenue and emissions lines represents the decoupling gap — the difference in percentage points between revenue Δ% and emissions Δ% at each year. A wider shaded area indicates stronger decoupling. The gap value shown on each card is the gap at the final paired data point.
If a company appears in both OrgData and CDP datasets (e.g. "Telia" in OrgData and "Telia Company AB" in CDP), the dashboard keeps only the OrgData rows. This prevents double-counting and ensures the more accurate OrgData base year is used. A canonical name map resolves legal name variants (e.g. "Telefonaktiebolaget LM Ericsson" → "Ericsson").
Understanding the CDP A-List Badge
Key distinction: CDP scores disclosure quality, not decoupling performance
The A★ CDP A-List badge indicates that a company scored A on the CDP Climate Change questionnaire. This is a mark of climate leadership in transparency and governance — not a guarantee that the company has achieved revenue–emissions decoupling. The dashboard currently identifies 423 CDP A-List companies in the S1+2+3 dataset (395 in S1+2), sourced from the 2025 CDP Climate-only A-List.
CDP evaluates companies on the quality and completeness of their climate disclosures, the robustness of their governance structures, and the ambition of their climate targets. A company can earn an A score while its emissions are still rising, as long as it demonstrates strong management, credible plans, and transparent reporting. The following six factors explain why CDP A-List membership does not automatically translate into strong decoupling on this dashboard.
CDP rewards transparency, governance, and reporting quality. Companies are assessed on how well they disclose their emissions, risks, and climate strategies — not on whether their absolute emissions have already decreased relative to revenue growth.
An A score can be achieved through robust climate targets, board-level oversight, and credible transition plans, even if emissions have not yet decreased year-over-year. The A-List reflects future intent and governance quality as much as past performance.
Companies may hold internal or alternative climate targets without official Science Based Targets initiative (SBTi) validation. CDP accepts a range of target-setting frameworks, meaning A-List companies vary significantly in the rigour and external verification of their decarbonisation commitments.
A company may expand production, enter new markets, or grow its workforce, causing absolute emissions to rise even while emissions intensity (per unit of output) improves. CDP does not penalise growth-driven emission increases if the governance and disclosure quality remain high.
Supply-chain and value-chain emissions (Scope 3) can fluctuate significantly due to factors outside a company's direct control — supplier changes, product mix shifts, or customer behaviour. This variability can make overall emissions trends appear unstable even for well-managed companies with strong climate programmes.
Some high-emission industries — such as heavy manufacturing, chemicals, or financial services — face structural barriers to rapid decarbonisation. Companies in these sectors may receive A-List scores for their leadership and long-term planning while still working toward reductions that will only materialise over a longer time horizon.
The main dashboard counts a company as analysable if it has at least 2 rows containing either a revenue figure or an emissions figure. This permissive threshold is designed to surface as many companies as possible in the chart grid.
The Ambition vs. Action Matrix (accessible via the A×A Matrix link in the header) applies a stricter requirement: a company must have at least 2 rows where both revenue and emissions are present in the same year (paired data points), because a decoupling gap cannot be computed without both values simultaneously.
As a result, some companies that appear in this dashboard are excluded from the matrix. They have multi-year emissions data but their revenue figures are missing in all but one year, making it impossible to determine whether decoupling is occurring. Three examples:
- La Banque Postale — 6 years of emissions data, but revenue data only available in 2024 (base year = 0%).
- Severfield — 3 rows total; revenue data only in base year 2022.
- Voestalpine AG — 4 rows total; revenue data only in base year 2022, despite a −60% emissions drop in that year.
These companies are not missing from the dashboard — they appear in the chart grid when the Coupling or Excluded toggles are enabled. They simply cannot be placed on the action axis of the matrix without sufficient paired data.
The A★ CDP A-List badge is an informational signal, not a quality filter. Use it alongside the decoupling classification to draw more nuanced conclusions:
The most credible combination. The company both discloses well and has demonstrated actual revenue–emissions separation. Governance quality and real-world performance are aligned.
The company leads on disclosure and governance but has not yet achieved full decoupling. This may reflect a transition in progress, sector-specific constraints, or growth-driven emission increases that governance alone cannot immediately offset.
The company has achieved measurable decoupling but either does not participate in CDP disclosure or did not score A in the most recent cycle. Performance is real but disclosure leadership has not been recognised.
Neither disclosure leadership nor decoupling performance is present in the current dataset. This does not necessarily mean the company is not acting on climate — it may simply not disclose through CDP.