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.

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.

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.

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.

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.

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.

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.

Intuit’s products simplify financial management for over 90 million individuals and 10 million small businesses, enabling users to save more, make better financial decisions, and operate more efficiently. By continuously improving its offerings and expanding its customer reach, Intuit aims to double household savings rates, boost small business success by over 20 points above industry standards, and grow its customer base to 200 million.

Wise reduces costs in cross-border financial transactions through its proprietary payment infrastructure. Driven by its mission to provide transparent and low-cost financial services globally, Wise cultivates deep customer loyalty, fuels growth, and supports financial inclusion by making cross-border living and business more accessible.

Edward’s Lifesciences is a leading manufacturer of medical devices for structural heart disease. Its success hinges on its pursuit of innovation and ability to introduce less invasive techniques that can help alleviate an area of significant unmet need. The more successful Edwards is in pioneering these advancements, the greater the impact on global health.