Visualized: The Climate Targets of Fortune 500 Companies
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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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Misc

A Deep Dive Into the World’s Oceans, Lakes, and Drill Holes

A unique and entertaining graphic that compares the depth of the world’s lakes and oceans, as well as the deepest holes ever drilled.

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Today’s chart is best viewed full-screen. Explore the high resolution version by clicking here.

Sailors have been circumnavigating the high seas for centuries now, but what could be found beneath the sunlit surface of the ocean remained a mystery until far more recently. In fact, it wasn’t until 1875, during the Challenger expedition, that humanity got it’s first concrete idea of how deep the ocean actually was.

Today’s graphic, another fantastic piece by xkcd, is a unique and entertaining look at everything from Lake Superior’s ice encrusted shoreline down to blackest, inhospitable trench (which today bears the name of the expedition that first discovered it).

The graphic is packed with detail, so we’ll only highlight a few points of interest.

Deep Thoughts with Lake Baikal

Deep in Siberia, abutting a mountainous stretch of the Mongolian border, is the one of the most remarkable bodies of water on Earth: Lake Baikal. There are a number of qualities that make Lake Baikal stand out.

Depth: Baikal, located in a massive continental rift, is the deepest lake in the world at 1,642m (5,387ft). That extreme depth holds a lot of fresh water. In fact, an estimated 22% of all the world’s fresh water can be found in the lake.

Age: Baikal (which is listed as a UNESCO World Heritage Site) is estimated to be over 25 million years old, making it the most ancient lake on the planet.

Clarity: Interestingly, the water in the lake is exceptionally clear. In winter, visibility can extend over 30m (98ft) below the surface.

Biodiversity: The unique ecosystem of Lake Baikal provides a home for thousands of plant and animal species. In fact, upwards of 80% of those species are endemic, meaning they are unique to that region.

Who is Alvin?

Since 1964, a hard-working research submersible named Alvin has been helping us better understand the deep ocean. Alvin explored the wreckage of RMS Titanic in 1986, and helped confirm the existence of black smokers (one of the weirdest ecosystems in the world).

Though most of the components of the vessel have been replaced and upgraded over the years, it’s still in use today. In 2020, Alvin received an $8 million upgrade, and is now capable of exploring 99% of the ocean floor.

We know more about the surface of Venus than the bottom of the ocean. The potential for discovery is huge.– Anna-Louise Reysenbach, Professor of Microbiology, PSU

The Ocean’s Deepest Point

The deepest point in the ocean is the Mariana Trench, at 11,034 meters (36,201 feet).

This trench is located in the Pacific Ocean, near Guam and the trench’s namesake, the Mariana Islands. While the trench is the most extreme example of ocean depths, when compared to surface level distance, it’s depth is shorter than Manhattan.

Mariana trench depth compared to cities

Obviously, the context of surface distance is wildly different than vertical distance, but it serves as a reminder of how narrow the “explorable” band of the Earth’s surface is.

Polymetallic Nodules

The ancient Greek word, ábyssos, roughly means “unfathomable, bottomless gulf”. While there is a bottom (the abyssopelagic zone comprises around 75% of the ocean floor), the enormous scale of this ecosystem is certainly unfathomable.

Objectively, the abyssal plain is not the prettiest part of the ocean. It’s nearly featureless, and lacks the panache of, say, a coral reef, but there are still some very compelling reasons we’re eager to explore it. Resource companies are chiefly interested in polymetallic nodules, which are essentially rich manganese formations scattered about on the sea bottom.

Manganese is already essential in steel production, but demand is also getting a substantial lift from the fast-growing electric vehicle market. The first company to find an economical way to harvest nodules from the ocean floor could reap a significant windfall.

Drill Baby, Drill

Demand for resources can force humans into some very inhospitable places, and in the case of Deepwater Horizon, we chased oil to a depth even surpassing the famed Marianas Trench.

Drilling that far below the surface is a complicated endeavor, and when the drill platform was put into service in 2001, it was hailed as an engineering marvel. To this day, Deepwater Horizon holds the record for the deepest offshore hole ever made.

After the rig’s infamous explosion and subsequent spill in 2010, that depth record for drilling may stand the test of time.

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Energy

Mapped: Solar Power by Country in 2021

In 2020, solar power saw its largest-ever annual capacity expansion at 127 gigawatts. Here’s a snapshot of solar power capacity by country.

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Solar Power by Country

Mapped: Solar Power by Country in 2021

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

The world is adopting renewable energy at an unprecedented pace, and solar power is the energy source leading the way.

Despite a 4.5% fall in global energy demand in 2020, renewable energy technologies showed promising progress. While the growth in renewables was strong across the board, solar power led from the front with 127 gigawatts installed in 2020, its largest-ever annual capacity expansion.

The above infographic uses data from the International Renewable Energy Agency (IRENA) to map solar power capacity by country in 2021. This includes both solar photovoltaic (PV) and concentrated solar power capacity.

The Solar Power Leaderboard

From the Americas to Oceania, countries in virtually every continent (except Antarctica) added more solar to their mix last year. Here’s a snapshot of solar power capacity by country at the beginning of 2021:

CountryInstalled capacity, megawattsWatts* per capita% of world total
China 🇨🇳 254,35514735.6%
U.S. 🇺🇸 75,57223110.6%
Japan 🇯🇵 67,0004989.4%
Germany 🇩🇪 53,7835937.5%
India 🇮🇳 39,211325.5%
Italy 🇮🇹 21,6003453.0%
Australia 🇦🇺 17,6276372.5%
Vietnam 🇻🇳 16,504602.3%
South Korea 🇰🇷 14,5752172.0%
Spain 🇪🇸 14,0891862.0%
United Kingdom 🇬🇧 13,5632001.9%
France 🇫🇷 11,7331481.6%
Netherlands 🇳🇱 10,2133961.4%
Brazil 🇧🇷 7,881221.1%
Turkey 🇹🇷 6,668730.9%
South Africa 🇿🇦 5,990440.8%
Taiwan 🇹🇼 5,8171720.8%
Belgium 🇧🇪 5,6463940.8%
Mexico 🇲🇽 5,644350.8%
Ukraine 🇺🇦 5,3601140.8%
Poland 🇵🇱 3,936340.6%
Canada 🇨🇦 3,325880.5%
Greece 🇬🇷 3,2472580.5%
Chile 🇨🇱 3,2051420.4%
Switzerland 🇨🇭 3,1182950.4%
Thailand 🇹🇭 2,988430.4%
United Arab Emirates 🇦🇪 2,5391850.4%
Austria 🇦🇹 2,2201780.3%
Czech Republic 🇨🇿 2,0731940.3%
Hungary 🇭🇺 1,9531310.3%
Egypt 🇪🇬 1,694170.2%
Malaysia 🇲🇾 1,493280.2%
Israel 🇮🇱 1,4391340.2%
Russia 🇷🇺 1,42870.2%
Sweden 🇸🇪 1,417630.2%
Romania 🇷🇴 1,387710.2%
Jordan 🇯🇴 1,3591000.2%
Denmark 🇩🇰 1,3001860.2%
Bulgaria 🇧🇬 1,0731520.2%
Philippines 🇵🇭 1,04890.1%
Portugal 🇵🇹 1,025810.1%
Argentina 🇦🇷 764170.1%
Pakistan 🇵🇰 73760.1%
Morocco 🇲🇦 73460.1%
Slovakia 🇸🇰 593870.1%
Honduras 🇭🇳 514530.1%
Algeria 🇩🇿 448100.1%
El Salvador 🇸🇻 429660.1%
Iran 🇮🇷 41450.1%
Saudi Arabia 🇸🇦 409120.1%
Finland 🇫🇮 391390.1%
Dominican Republic 🇩🇴 370340.1%
Peru 🇵🇪 331100.05%
Singapore 🇸🇬 329450.05%
Bangladesh 🇧🇩 30120.04%
Slovenia 🇸🇮 2671280.04%
Uruguay 🇺🇾 256740.04%
Yemen 🇾🇪 25380.04%
Iraq 🇮🇶 21650.03%
Cambodia 🇰🇭 208120.03%
Cyprus 🇨🇾 2001470.03%
Panama 🇵🇦 198460.03%
Luxembourg 🇱🇺 1952440.03%
Malta 🇲🇹 1843120.03%
Indonesia 🇮🇩 17210.02%
Cuba 🇨🇺 163140.02%
Belarus 🇧🇾 159170.02%
Senegal 🇸🇳 15580.02%
Norway 🇳🇴 152170.02%
Lithuania 🇱🇹 148370.02%
Namibia 🇳🇦 145550.02%
New Zealand 🇳🇿 142290.02%
Estonia 🇪🇪 130980.02%
Bolivia 🇧🇴 120100.02%
Oman 🇴🇲 109210.02%
Colombia 🇨🇴 10720.01%
Kenya 🇰🇪 10620.01%
Guatemala 🇬🇹10160.01%
Croatia 🇭🇷 85170.01%
World total 🌎 713,97083100.0%

*1 megawatt = 1,000,000 watts.

China is the undisputed leader in solar installations, with over 35% of global capacity. What’s more, the country is showing no signs of slowing down. It has the world’s largest wind and solar project in the pipeline, which could add another 400,000MW to its clean energy capacity.

Following China from afar is the U.S., which recently surpassed 100,000MW of solar power capacity after installing another 50,000MW in the first three months of 2021. Annual solar growth in the U.S. has averaged an impressive 42% over the last decade. Policies like the solar investment tax credit, which offers a 26% tax credit on residential and commercial solar systems, have helped propel the industry forward.

Although Australia hosts a fraction of China’s solar capacity, it tops the per capita rankings due to its relatively low population of 26 million people. The Australian continent receives the highest amount of solar radiation of any continent, and over 30% of Australian households now have rooftop solar PV systems.

China: The Solar Champion

In 2020, President Xi Jinping stated that China aims to be carbon neutral by 2060, and the country is taking steps to get there.

China is a leader in the solar industry, and it seems to have cracked the code for the entire solar supply chain. In 2019, Chinese firms produced 66% of the world’s polysilicon, the initial building block of silicon-based photovoltaic (PV) panels. Furthermore, more than three-quarters of solar cells came from China, along with 72% of the world’s PV panels.

With that said, it’s no surprise that 5 of the world’s 10 largest solar parks are in China, and it will likely continue to build more as it transitions to carbon neutrality.

What’s Driving the Rush for Solar Power?

The energy transition is a major factor in the rise of renewables, but solar’s growth is partly due to how cheap it has become over time. Solar energy costs have fallen exponentially over the last decade, and it’s now the cheapest source of new energy generation.

Since 2010, the cost of solar power has seen a 85% decrease, down from $0.28 to $0.04 per kWh. According to MIT researchers, economies of scale have been the single-largest factor in continuing the cost decline for the last decade. In other words, as the world installed and made more solar panels, production became cheaper and more efficient.

This year, solar costs are rising due to supply chain issues, but the rise is likely to be temporary as bottlenecks resolve.

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