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Startups are heavily featured on Fortune's eighth annual list of companies that are doing well by doing good. 

NEW YORK  , Oct. 10, 2022 /PRNewswire/ -- Today, Fortune revealed the 2022 Fortune Change the World list, showcasing over 50 companies that have made an important social or environmental impact through their profit-making strategy and operations this year. Companies are recognized for innovative business strategies that positively impact the world. This year's list includes 54 companies: 31 from North America; 12 from Europe; eight from Asia; two from Africa; and one from South America. 

In his introduction to the list, Fortune Executive Features Editor Matt Heimer explains that the original guiding principles of the Fortune Change the World list were that the creative tools of capitalism made business uniquely suited to solving social problems, and that bigger businesses would be better suited to take on that task. He writes: "Seven years later, we're just as firmly com­mitted to the first principle. The second? A little less so. On our inaugural list, six of the 51 companies we recognized had annual rev­enue of $1 billion or less. This year, in our eighth edition, 18 out of 54 have less than $1 billion in revenue, and nine of those are currently venture-backed startups." Read more.

PayPal is the first featured company on the 2022 Fortune Change the World list, included for their response to the Russian invasion of Ukraine. The Fortune editors write: "PayPal has moved an enormous amount of badly needed money. Through late September, its customers raised more than $600 million through PayPal Giving for relief efforts in Ukraine. It has also helped Ukrainian citizens receive and send another $330 million in person-to-person payments and money transfers. And PayPal has tallied almost 300,000 new Ukrainian account sign-ups since the war began. Someday those may become paying customers, but that's a question for a more peaceful day: PayPal is waiving all money transfer and remittance fees through Dec. 31." Read more.

While the Fortune Change the World list is not ranked, the first ten entries are:

1. PayPal
2. Alibaba, JD.com, & Meituan
3. Walmart
4. Discovery
5. Qualcomm
6. EssilorLuxottica
7. Nubank
8. Northvolt
9. AIA Group
10. Shubham Housing Development Finance

View the complete Fortune Change the World list here.

The Change the World list is developed in collaboration with the Shared Value Initiative. This final list was selected and ranked by the editors of Fortune based on the magazine's own reporting and analysis.  

The Change the World list recognizes companies that have had a positive social impact through activities that are part of their core business strategy. As we assess nominees, among the factors that matter most are:    

1. Measurable social impact: We consider the reach, nature, and durability of the company's impact on one or more specific societal problems.
2. Business results: We consider the benefit the socially impactful work brings to the company. Profitability and contribution to shareholder value outweigh benefits to the company's reputation.
3. Degree of innovation: We consider how innovative the company's effort is relative to that of others in its industry and whether other companies have followed its example or partnered with it.

Fortune drives the conversation about business. With a global perspective, the guiding wisdom of history, and an unflinching eye to the future, we report and reveal the stories that matter today—and that will matter even more tomorrow. With the trusted power to convene and challenge those who are shaping industry, commerce, and society around the world, Fortune lights the path for global leaders—and gives them the tools to make business better. www.fortune.com     

Press Contact:  
Alison Klooster 
Director of Communications, Fortune 
646-437-6613  
Alison.klooster@fortune.com  

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SOURCE FORTUNE Media