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Visualizing the Climate Targets of Fortune 500 Companies

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Fortune 500 Climate Commitments

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Visualized: The Climate Targets of Fortune 500 Companies

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The Fortune Global 500 is a ranking of the world’s 500 largest companies by revenue. In 2019, this influential group employed 70 million people and generated revenues of over $33 trillion.

Given their size and influence, many of these companies are taking climate action quite seriously. For example, 30% of the group have either achieved a climate goal or are publicly committed to doing so by 2030—a significant increase from just 6% in 2016.

In this infographic, we’ve used data from Natural Capital Partners to provide a holistic view of when Fortune Global 500 companies plan to meet their stated climate goals.

Climate Action Takes Several Forms

When taking climate action, businesses have a variety of targets they can pursue. Three of the most common ones include carbon neutrality, RE100, and science based targets (SBT).

Climate target typeDescription
Carbon neutralAchieved when a company completely offsets its greenhouse gas (GHG) emissions.
RE100Achieved when a company relies on 100% renewable energy.
Science based targets (SBT) Emissions are reduced in line with the need to keep global warming below 2ºC.

After choosing a target, businesses can also set a date for when they intend to achieve it. As the above graphic shows, many companies are targeting 2030, a year that is frequently touted as a deadline for meeting the goals of the Paris Agreement.

A fourth target known as “net zero emissions” is also used, though its exact definition tends to vary. For the purposes of this infographic, we’ve considered a commitment to net zero emissions to be the same as achieving carbon neutrality.

A Complete Overview

The following table summarizes the climate actions of Fortune Global 500 companies. Firms that made commitments without a target date have been noted in the table with a “C”.

Company NameHeadquartersCarbon Neutral (target date)RE100 (target date)SBT (target date)
Commonwealth Bank of Australia🇦🇺Australia2030
Westpac Banking🇦🇺Australia20132025
Woolworths Group🇦🇺AustraliaC
Anheuser-Busch InBev🇧🇪Belgium20252025
Banco Bradesco🇧🇷Brazil2019
Banco do Brasil🇧🇷Brazil2019
Caixa Econômica Federal🇧🇷Brazil2018
Vale🇧🇷Brazil2050
Bank of Montreal🇨🇦Canada2010
Royal Bank of Canada🇨🇦Canada2017
Toronto-Dominion Bank🇨🇦Canada2010
Lenovo Group🇨🇳China2030
Xiamen ITG Holding Group🇨🇳ChinaC
Maersk Group🇩🇰Denmark2050
Nokia🇫🇮Finland2030
Auchan Holding🇫🇷France
AXA🇫🇷France2025
BNP Paribas🇫🇷France2017
Carrefour🇫🇷France2030
CMA CGM🇫🇷France2050
Crédit Agricole🇫🇷FranceC
Danone🇫🇷France205020302030
Electricité de France🇫🇷France2050
Engie🇫🇷France2030
L'Oréal🇫🇷France20202027
La Poste🇫🇷France201220202025
Michelin🇫🇷France2030
Orange🇫🇷France2040
Renault🇫🇷France2030
Saint-Gobain🇫🇷France2025
Sanofi🇫🇷France2030
Schneider Electric🇫🇷France202520302030
Siemens🇫🇷France2030
Société Générale🇫🇷FranceC
Veolia Environnement🇫🇷France2034
Vinci🇫🇷France2050
Adidas🇩🇪Germany2050
Allianz🇩🇪Germany20122023
Bayer🇩🇪Germany2030
BMW Group🇩🇪Germany2050
Bosch Group🇩🇪Germany2020
Continental🇩🇪Germany20402030
Daimler🇩🇪Germany2039
Deutsche Bahn🇩🇪Germany20502030
Deutsche Bank🇩🇪Germany2013
Deutsche Post DHL Group🇩🇪Germany2050
Deutsche Telekom🇩🇪Germany205020212030
E.ON🇩🇪Germany2040
Metro🇩🇪Germany2030
Munich Re Group🇩🇪Germany2015
SAP🇩🇪Germany202520142025
ThyssenKrupp🇩🇪Germany2030
Uniper🇩🇪Germany2035
Volkswagen🇩🇪Germany2050
ZF Friedrichshafen🇩🇪Germany2040
State Bank of India🇮🇳India2030
Tata Motors🇮🇳India2030
Accenture🇮🇪Ireland20232025
CRH🇮🇪Ireland2050
Johnson Controls International🇮🇪IrelandC
Enel🇮🇹Italy20502030
ENI🇮🇹Italy2030
AEON🇯🇵Japan205020302027
Dai-ichi Life Holdings🇯🇵Japan2050
Daiwa House Industry🇯🇵Japan20402030
Fujitsu🇯🇵Japan20502030
Hitachi🇯🇵JapanC
Mitsubishi Electric🇯🇵Japan2030
NEC🇯🇵Japan20502030
Nissan Motor🇯🇵Japan2050
Panasonic🇯🇵Japan20502030
Sompo Holdings🇯🇵JapanC
Sony🇯🇵Japan20402020
Sumitomo Electric Industries🇯🇵Japan2050
Takeda Pharmaceutical🇯🇵Japan20192025
Tokio Marine Holdings🇯🇵Japan2011
Toshiba🇯🇵Japan
Toyota Motor🇯🇵Japan2050
América Móvil🇲🇽Mexico2050
Achmea🇳🇱Netherlands2011
Aegon🇳🇱Netherlands2016
Heineken Holding🇳🇱NetherlandsC
ING Group🇳🇱Netherlands20072020
Equinor🇳🇴Norway2030
Anglo American🇿🇦South Africa2040
Hyundai Motor🇰🇷South Korea2050
LG Electronics🇰🇷South Korea2030
Banco Bilbao Vizcaya Argentaria🇪🇸Spain20202030
Banco Santander🇪🇸Spain2020
Iberdrola🇪🇸Spain20502030
Inditex🇪🇸SpainC
Mapfre Group🇪🇸Spain2030
Naturgy Energy Group🇪🇸SpainC
Telefónica🇪🇸Spain203020302025
Volvo🇸🇪Sweden2025
ABB🇨🇭Switzerland2018
Adecco Group🇨🇭Switzerland2030
Coop Group🇨🇭Switzerland2023
Credit Suisse Group🇨🇭Switzerland20102025
LafargeHolcim🇨🇭Switzerland2030
Migros Group🇨🇭SwitzerlandC
Nestlé🇨🇭Switzerland2020
Novartis🇨🇭Switzerland20252030
Swiss Re🇨🇭Switzerland20032020
Zurich Insurance Group🇨🇭Switzerland20142022
Fubon Financial Holding🇹🇼TaiwanC
PTT🇹🇭ThailandC
Aviva🇬🇧UK20062025
Barclays🇬🇧UK2030
British American Tobacco🇬🇧UK20302028
BT Group🇬🇧UK20202030
Compass Group🇬🇧UKC
GlaxoSmithKline🇬🇧UK20502027
HSBC Holdings🇬🇧UK2030
J. Sainsbury🇬🇧UK2040
Linde🇬🇧UKC
Phoenix Group Holdings🇬🇧UK2030
Tesco🇬🇧UK205020302027
Unilever🇬🇧UK20202030
Vodafone Group🇬🇧UK2025
3M🇺🇸USA2050
Alphabet🇺🇸USA20072017
Amazon.com🇺🇸USA204020252040
American Express🇺🇸USA2018
Anthem🇺🇸USA2025
Apple🇺🇸USA20202020
AT&T🇺🇸USA2028
Bank of America🇺🇸USA20202020
Best Buy🇺🇸USA20502030
Capital One Financial🇺🇸USA20182019
Cisco Systems🇺🇸USA2022
Citigroup🇺🇸USA2020
Coca-Cola🇺🇸USA2030
CVS Health🇺🇸USA2028
Dell Technologies🇺🇸USA20402020
Delta Air Lines🇺🇸USA2020
Dow🇺🇸USA2050
Facebook🇺🇸USA2020
Ford Motor🇺🇸USA2050
General Motors🇺🇸USA2050
Goldman Sachs Group🇺🇸USA20152020
Hewlett Packard Enterprise🇺🇸USA2025
HP🇺🇸USA20352025
Intel🇺🇸USA2030
Johnson & Johnson🇺🇸USA2050
JPMorgan Chase🇺🇸USA2020
Lowe's🇺🇸USA2025
MetLife🇺🇸USA2016
Microsoft🇺🇸USA201220172030
Mondelez International🇺🇸USA2025
Morgan Stanley🇺🇸USA20222022
Nike🇺🇸USA20252030
PepsiCo🇺🇸USA2030
Pfizer🇺🇸USA2020
Philip Morris International🇺🇸USA20502030
Procter & Gamble🇺🇸USA203020302030
Schlumberger🇺🇸USAC
Starbucks🇺🇸USA2020
Target🇺🇸USA20302028
Tyson Foods🇺🇸USA2030
Verizon Communications🇺🇸USA2035
Walmart🇺🇸USA20252027
Wells Fargo🇺🇸USA20192020

Note: This data was aggregated from various sources throughout 2020, and as a result, may not include the latest climate commitments announced by companies within the Fortune Global 500.

As of October 2020, 163 companies from the Fortune Global 500 have publicly committed to achieving at least one of these climate targets. That represents 32.6% of the total group.

The most common target is carbon neutrality, which has 91 companies on board. In second place is science based targets (SBT), which has 74 companies committed—of those, 16 have not declared a target date. RE100 was the least common, with 56 companies committed. Because some companies are committed to multiple targets, these figures add to more than 163.

Climate Action is on the Rise

Private-sector awareness around climate change and other sustainability issues has gained strong momentum in recent years.

Since 2011, the number of S&P 500 companies publishing sustainability reports increased from 20% in 2011, to 90% in 2019. This was likely due to investor demand and a broader acceptance of environmental, social, and governance (ESG) criteria.

Governments around the world are also taking a more proactive approach to climate action. The Biden administration, for example, seeks to make a $2 trillion investment to help a variety of U.S. industries become more sustainable.

“We have the opportunity to build a more resilient, sustainable economy – one that will put the United States on an irreversible path to achieve net-zero emissions…by no later than 2050.”
– Biden-Harris campaign

America’s goal of reaching net-zero emissions by 2050 is shared with a handful of other advanced economies, including Japan and the EU. The UK has taken these pledges one step further, becoming the first G7 country to pass a law that requires itself to bring emissions to net zero by 2050.

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Environment

The Rise in America’s Billion-Dollar Extreme Weather Disasters

From tropical cyclones to severe storms, the number of extreme weather disasters with losses exceeding $1 billion has climbed over time.

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A bar chart showing rising U.S. extreme weather disasters for each decade since the 1980s, with the view cut off part way through the 2010s.

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The following content is sponsored by National Public Utilities Council

The Rise in U.S. Billion-Dollar Extreme Weather Disasters

Since 1980, there have been 383 extreme weather or climate disasters where the damages reached at least $1 billion. In total, these disasters have cost more than $2.7 trillion.

Created in partnership with the National Public Utilities Council, this chart shows how these disasters have been increasing with each passing decade.

A Growing Concern

The U.S. National Oceanic and Atmospheric Administration (NOAA) tracks each disaster and estimates the cost based on factors like physical damages and time losses such as business interruption. They adjust all costs by the Consumer Price Index to account for inflation.

DecadeTotal No. of EventsTotal Inflation-Adjusted Cost
1980s33$216B
1990s57$330B
2000s67$611B
2010s131$978B
2020s*95$568B

* Data is as of May 8, 2024.

Both the number and cost of extreme weather disasters has grown over time. In fact, not even halfway through the 2020s the number of disasters is over 70% of those seen during the entire 2010s. 

Severe storms have been the most common, accounting for half of all billion-dollar disasters since 1980. In terms of costs, tropical cyclones have caused the lion’s share—more than 50% of the total. Hurricane Katrina, which made landfall in 2005, remains the most expensive single event with $199 billion in inflation-adjusted costs.

Electricity and Extreme Weather Disasters

With severe storms and other disasters rising, the electricity people rely on is significantly impacted. For instance, droughts have been associated with a decline in hydropower, which is an important source of U.S. renewable electricity generation

Disasters can also lead to significant costs for utility companies. Hawaii Electric faces $5 billion in potential damages claims for the 2023 wildfire, which is nearly eight times its insurance coverage. Lawsuits accuse the company of negligence in maintaining its infrastructure, such as failing to strengthen power poles to withstand high winds. 

Given that the utilities industry is facing the highest risk from extreme weather and climate disasters, some companies have begun to prepare for such events. This means taking steps like burying power lines, increasing insurance coverage, and upgrading infrastructure. 

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Learn how the National Public Utilities Council is working toward the future of sustainable electricity.

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