The Most Ethical Companies on the London Stock Exchange (2026)
The London Stock Exchange is home to some of the world's most recognised companies -- from FTSE 100 blue chips to mid-cap specialists with global reach. But which LSE-listed companies actually score well on ethical integrity when measured by independent data?
We scored 443 companies listed on the London Stock Exchange across 11 independent ethical dimensions, using data from court filings, regulatory actions, investigative journalism, and NGO reports. No corporate sustainability reports. No self-assessed ESG questionnaires. Just independently verifiable evidence.
Here are the 10 LSE-listed companies that scored highest in our analysis.
1. RELX (REL.LSE) -- Average Score: +18.2
RELX, the information analytics and publishing group, leads our LSE ranking with the highest average score of any company on the exchange.
RELX's +60 on sustainable products is among the highest individual dimension scores in our LSE top 10. As a company that has transitioned from print publishing to digital analytics, its product model generates less physical waste than traditional media. Its +40 on both environmental performance and data privacy reflects a strong operational record across multiple dimensions.
View RELX's full score breakdown -->
2. Croda International (CRDA.LSE) -- Average Score: +17.7
Croda, the specialty chemicals manufacturer, scores second-highest with consistent positive performance across seven dimensions.
Croda's balanced profile is notable. It scores positively on seven of 11 dimensions, with no score worse than -10. Its governance score of +40 reflects a clean regulatory record, while the +30 on environmental performance and sustainability aligns with its stated commitment to bio-based ingredients and green chemistry.
View Croda's full score breakdown -->
3. Schroders (SDR.LSE) -- Average Score: +16.8
Schroders, the asset management firm, earns the third-highest average score on the LSE and the highest among financial services companies in our ranking.
Schroders scores positively on nine of 11 dimensions -- the broadest positive spread in our LSE ranking. For an asset manager, its +40 on governance is significant; it suggests that independent data supports the firm's internal compliance and transparency practices. Its environmental score of +40 is also the highest among financial firms on the exchange.
View Schroders' full score breakdown -->
4. Spirax Group (SPX.LSE) -- Average Score: +16.4
Spirax Group, the thermal energy management and fluid technology company, scores well across all four operational dimensions.
Spirax stands out for consistency. Rather than a single dominant score, it delivers +30 across four different dimensions -- worker respect, governance, environment, and sustainability. Its only negative is a -10 on ethical sourcing, making it one of the cleanest profiles on the exchange.
View Spirax Group's full score breakdown -->
5. Halma (HLMA.LSE) -- Average Score: +14.1
Halma, the safety, environmental, and healthcare technology group, scores strongly on governance, environment, and worker treatment.
| Dimension | Score |
|---|---|
| Honest & Fair Business | +40 |
| Planet-Friendly Business | +40 |
| Better Health for All | +30 |
| Fair Pay & Worker Respect | +30 |
| Respect for Cultures & Communities | +25 |
| No War, No Weapons | +20 |
Halma's +30 on worker respect is among the highest for any FTSE company in our analysis. Its +20 on the weapons dimension reflects no identified involvement in arms-related contracts, despite some of its safety products having potential dual-use applications. However, scores of -20 on both ethical sourcing and sustainability indicate areas where independent data has identified concerns in its supply chain.
View Halma's full score breakdown -->
6. Coats Group (COA.LSE) -- Average Score: +13.2
Coats, the world's largest thread manufacturer, scores well on environmental and operational dimensions.
| Dimension | Score |
|---|---|
| Planet-Friendly Business | +40 |
| Zero Waste & Sustainable Products | +30 |
| Respect for Cultures & Communities | +25 |
| Fair Pay & Worker Respect | +20 |
| Honest & Fair Business | +20 |
| Safe & Smart Tech | +20 |
For a company operating in the textiles supply chain -- a sector frequently associated with labour and sourcing controversies -- Coats' profile is unusually positive. It scores +20 on worker respect and +25 on community relations. Its -20 on ethical sourcing is the only significant negative, a common vulnerability for companies with global manufacturing footprints.
View Coats Group's full score breakdown -->
7. Great Portland Estates (GPE.LSE) -- Average Score: +12.3
Great Portland Estates, the London-focused property company, earns the highest governance score in our LSE top 10.
| Dimension | Score |
|---|---|
| Honest & Fair Business | +60 |
| Fair Pay & Worker Respect | +30 |
| Planet-Friendly Business | +30 |
| Respect for Cultures & Communities | +25 |
| Better Health for All | +10 |
Great Portland's +60 on governance is the highest governance score of any company in our top 10. The company's focus on sustainable building practices in central London is reflected in its +30 environmental score. Its only negative is -20 on sustainability, which may relate to the inherent environmental footprint of commercial real estate.
View Great Portland Estates' full score breakdown -->
8. Kainos Group (KNOS.LSE) -- Average Score: +11.8
Kainos, the Belfast-headquartered IT services company, leads our ranking on data privacy and digital ethics.
| Dimension | Score |
|---|---|
| Safe & Smart Tech | +40 |
| Better Health for All | +30 |
| Fair Pay & Worker Respect | +30 |
| Honest & Fair Business | +30 |
| Planet-Friendly Business | +30 |
Kainos scores +40 on data privacy -- the highest tech safety score in our LSE top 10. Its +30 on worker respect reflects positively for a technology employer, and the +30 on health relates to its work building digital healthcare systems for the NHS. The -20 on the weapons dimension reflects its government contract work, which includes defence-related digital services.
View Kainos Group's full score breakdown -->
9. Coca-Cola HBC (CCH.LSE) -- Average Score: +11.4
Coca-Cola HBC, the Swiss-headquartered bottler listed in London, records the highest single-dimension score in our top 10 with a +70 on governance.
| Dimension | Score |
|---|---|
| Honest & Fair Business | +70 |
| Planet-Friendly Business | +40 |
| Respect for Cultures & Communities | +25 |
| Fair Money & Economic Opportunity | +10 |
| Fair Pay & Worker Respect | +10 |
| Fair Trade & Ethical Sourcing | +10 |
Its +70 governance score is the highest governance score of any company in this article. However, its -30 on health reflects the well-documented public health concerns associated with sugary beverages -- a factor that brings the average down despite otherwise strong performance.
View Coca-Cola HBC's full score breakdown -->
10. Land Securities (LAND.LSE) -- Average Score: +11.4
Land Securities, the UK's largest commercial REIT, rounds out our top 10 with strong sustainability and environmental scores.
Land Securities scores +40 on both environmental performance and sustainability -- reflecting its investments in energy-efficient buildings and waste reduction across its property portfolio. Its governance score of +30 reinforces a clean operational record. Scores of -20 on both worker respect and ethical sourcing indicate areas flagged by independent data in its contractor and supply chain relationships.
View Land Securities' full score breakdown -->
Notable Absences
Several of the UK's most recognised companies did not make this list. Here is where some well-known FTSE names scored in our analysis:
- Shell (SHEL.LSE / RDSA.LSE) -- Average: -22.3. Scored -50 on environmental performance, -40 on worker respect, and -30 on governance. Multiple regulatory proceedings and court filings, including the landmark Dutch climate ruling, contribute to these scores.
- BP (BP.LSE) -- Average: -14.1. Scored -40 on both health and animal welfare dimensions, and -30 on ethical sourcing. The legacy of the Deepwater Horizon disaster and ongoing environmental liabilities continue to affect its profile.
- Glencore (GLEN.LSE) -- Average: -22.3. The lowest-scoring company in our LSE analysis alongside Shell. Scored -40 on worker respect, -40 on ethical sourcing, and -40 on environmental performance. Bribery prosecutions and documented labour concerns in mining operations contribute to these scores.
- British American Tobacco (BATS.LSE) -- The tobacco sector carries inherent negatives on health dimensions, consistent with publicly documented health impacts of tobacco products.
- HSBC (HSBA.LSE) -- Average: -12.3. Scored -30 on governance, -30 on data privacy, and -25 on community relations. Historical money laundering settlements and regulatory actions are reflected in these scores.
- Barclays (BARC.LSE) -- Average: 0.0. Scored zero across all 11 dimensions -- an unusual flat profile that indicates a lack of strong evidence in either direction across our data sources.
What Stands Out
Three patterns emerge from our LSE ranking:
1. Mid-cap companies outperform blue chips. The top 10 is dominated by companies outside the FTSE 100 headline names. RELX, Croda, Spirax, and Halma are respected businesses, but they are not the names most retail investors associate with the London market.
2. Extractive industries score poorly. Oil, gas, and mining companies occupy the bottom of the ranking. Shell, BP, Glencore, and Tullow Oil all scored negative averages. This is consistent with findings from court filings, environmental proceedings, and NGO reports in these sectors.
3. Governance is a differentiator. Companies in the top 10 consistently score +30 or higher on Honest & Fair Business. Companies at the bottom tend to score negatively on governance, driven by regulatory actions and legal proceedings.
How We Score
Every score on Mashinii is built from independently verifiable sources: court filings, regulatory actions, investigative journalism, and NGO reports. Companies cannot influence their scores through self-reporting or paid ESG disclosures.
We score across 11 independent dimensions -- not a single blended rating. This means a company can score well on the environment but poorly on worker rights, and you see both.
All 443 LSE-listed companies in our database are scored using the same methodology.
Learn more about our methodology -->
Check Your UK Holdings
If you hold UK stocks, FTSE trackers, or any fund with London-listed companies, do you know how they score across all 11 ethical dimensions?