Sustainable Growth

Microsoft is becoming an increasingly critical part of how enterprises manage their technology ecosystems on the cloud, through its Azure cloud computing platform, and the software and tools that help enterprises to become more productive. The continued shift of workloads to the cloud and their ability to add value for customers (through software and AI) will enable revenues to rise at >10% for a decade, with margins skewed positively. Microsoft will show significant leadership with its climate ambitions, which are material to the business and the planet given the enormous footprint that data centres are likely to have in 20-30 years’ time.

Alphabet’s core Google Search product boasts more than 90 per cent market share. The company has eight other internet services with more than a billion users each. Alphabet’s free tools have helped revolutionise access to information and learning and allowed smaller businesses to scale fast. Today, the company is at the forefront of innovations in artificial intelligence and we believe it has a catalysing effect on innovation in many realms. Alphabet supports our prosperity theme through its products which support innovation for growth.

TSMC is the largest independent manufacturer of semiconductors, which are used in every electronic and connected product. TSMC's scale and dependability make it a critical partner in the semiconductor value chain, enabling faster and more efficient innovation which benefits society. TSMC aligns with our prosperity theme, through what its products do to support innovation for growth.

MercadoLibre (Meli) began life as an online marketplace. It now offers digital payments, lending, advertising and logistics services across South America. The company plays an important role in job creation, raising
incomes and improving social mobility in emerging economies. MercadoLibre aligns with our prosperity theme, through products which lower barriers to entrepreneurship.

Global payment technology company Mastercard specialises in processing payment transactions between banks, and has ambitious goals for financial inclusion. It is partnering with the World Bank and other NGOs to bring one billion individuals into the financial system by 2025, with a focus on unbanked communities and women.

DSV is a global company specialising in transport and logistics, expected to expand significantly in the next decade through both growth and acquisitions. Their focus on efficient operations and reducing carbon emissions aims to boost profits and make a positive environmental impact.

Owner of the job search engine Indeed and the employee review site Glassdoor, Recruit is a Japanese-based technology company with operations worldwide. The company’s recruitment platforms and matching technology improve transparency and efficiency in the labour market, reducing economic hardship from frictional unemployment. The company seeks to go further by working with employers to reduce discrimination and help marginalised groups find work. Recruit supports our prosperity theme through business practices which promote fair and decent work.

It designs and manufacturers analog semiconductors, providing customised chips to over 100,000 customers for use in products from wind turbines to traffic lights. Its leading business practices allow it to attract and retain talent, and build long-term partnerships with customers and suppliers.

Shopify provides the infrastructure that enables merchants of any size to sell online - via their own websites and on their own terms. It's growing suite of products, from payments to advertising, levels the playing field for small businesses.

Through its music streaming platform and wider ecosystem, Spotify is contributing significantly to the growth of the creative economy and democratizing access to income opportunities for artists and creators.