Visualized: The Climate Targets of Fortune 500 Companies
View the high-resolution version of this infographic by clicking here
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 type||Description|
|Carbon neutral||Achieved when a company completely offsets its greenhouse gas (GHG) emissions.|
|RE100||Achieved 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 Name||Headquarters||Carbon Neutral (target date)||RE100 (target date)||SBT (target date)|
|Commonwealth Bank of Australia||🇦🇺Australia||2030|
|Banco do Brasil||🇧🇷Brazil||2019|
|Caixa Econômica Federal||🇧🇷Brazil||2018|
|Bank of Montreal||🇨🇦Canada||2010|
|Royal Bank of Canada||🇨🇦Canada||2017|
|Xiamen ITG Holding Group||🇨🇳China||C|
|Electricité de France||🇫🇷France||2050|
|Deutsche Post DHL Group||🇩🇪Germany||2050|
|Munich Re Group||🇩🇪Germany||2015|
|State Bank of India||🇮🇳India||2030|
|Johnson Controls International||🇮🇪Ireland||C|
|Dai-ichi Life Holdings||🇯🇵Japan||2050|
|Daiwa House Industry||🇯🇵Japan||2040||2030|
|Sumitomo Electric Industries||🇯🇵Japan||2050|
|Tokio Marine Holdings||🇯🇵Japan||2011|
|Anglo American||🇿🇦South Africa||2040|
|Hyundai Motor||🇰🇷South Korea||2050|
|LG Electronics||🇰🇷South Korea||2030|
|Banco Bilbao Vizcaya Argentaria||🇪🇸Spain||2020||2030|
|Naturgy Energy Group||🇪🇸Spain||C|
|Credit Suisse Group||🇨🇭Switzerland||2010||2025|
|Zurich Insurance Group||🇨🇭Switzerland||2014||2022|
|Fubon Financial Holding||🇹🇼Taiwan||C|
|British American Tobacco||🇬🇧UK||2030||2028|
|Phoenix Group Holdings||🇬🇧UK||2030|
|Bank of America||🇺🇸USA||2020||2020|
|Capital One Financial||🇺🇸USA||2018||2019|
|Delta Air Lines||🇺🇸USA||2020|
|Goldman Sachs Group||🇺🇸USA||2015||2020|
|Hewlett Packard Enterprise||🇺🇸USA||2025|
|Johnson & Johnson||🇺🇸USA||2050|
|Philip Morris International||🇺🇸USA||2050||2030|
|Procter & Gamble||🇺🇸USA||2030||2030||2030|
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.
Mapping the World’s Forests: How Green is Our Globe?
Where are the world’s forests? These high-resolution maps show how the world’s carbon-sequestering forests are spread.
Mapping the World’s Forests: How Green is our Globe?
More than half of this green cover is spread across the boreal forests of Russia and Canada, the Amazon in South America, and China’s coniferous and broad-leaved forests. These carbon-sequestering forests purify the air, filter water, prevent soil erosion, and act as an important buffer against climate change.
|Rank||Country||Forest Cover (in millions of hectares)|
|#4||🇺🇸 United States||310|
|#7||🇨🇩 Democratic Republic of the Congo||126|
This series of maps by Adam Symington uses data sourced from images collected aboard the MODIS sensor on the Terra satellite to reflect the ratio of the world’s surface covered with tree canopy to non-green areas.
To explore the entire high resolution forest map, click the image above. Below we’ll take a closer look at some of the world’s green zones.
Home to the boreal forests of Russia, China’s broad-leaved forests, the mangrove forests of Indonesia, and the green belt along the mighty Himalayas, Asia boasts some of the richest and most biodiverse green canopies of the world.
Russia holds more than one-fifth of the world’s trees across 815 million hectares—larger than the Amazon’s canopy. Like the country’s geography, most of Russia’s forests are situated in Asia, but spread into Europe as well.
To the southeast and with a forest cover of almost 220 million hectares, China is the fifth greenest country in the world. However, this was not always the case.
In 1990, China’s forests stretched across only 157 million hectares, covering 16.7% of its land. By the end of 2020, this forest cover reached 23.4%, thanks to decades of greening efforts.
On the other hand, the continent’s third most biodiverse country—Indonesia—is losing its green canopy. With a 92 million hectare-wide forest canopy, the country is home to between 10 and 15% of the world’s known plants, mammals, and birds. Unfortunately, over the past 50 years, 74 million hectares of the country’s rainforest have been logged, burned, or degraded.
Meanwhile, the 72 million hectares of Indian forest cover can be followed closely with the eye. From the rainforests along the Himalayas in the northeast, to montane rainforests of the South Western Ghats, and finally to the coastal mangrove forests.
The Amazon and Congolian Rainforests
In South America, Brazil has the second-largest green cover in the world.
Most of its 497 million hectare-wide forest cover falls within “the lungs of the planet”—the Amazon rainforest.
One of the most biodiverse places on the planet, the Amazon rainforest is said to house about 10% of the world’s biodiversity, including over three million wildlife species and over 2,500 tree species.
On the other side of the Atlantic, extending along the Congo River basin and its many tributaries, are the Congolian rainforests.
Spread across nine countries in Central Africa, this collection of tropical moist broadleaf forests is one of the remaining regions in the world that absorbs more carbon than it emits.
With 126 million hectares of the world’s green cover, the Democratic Republic of Congo (DRC) contains the largest part of this rainforest, equal to about 60% of Central Africa’s lowland forest cover.
North American Forests
Canada, the United States, and Mexico combine for 723 million hectares of the world’s forests. The vast stretches of pine and fir trees in the Great White North, coupled with the United States’ mixed variety of forests, make the continent one of the largest carbon sinks in the world.
With over 347 million hectares of forests, Canada ranks third in the list of greenest countries. Approximately 40% of its landmass is tree-covered, representing 9% of the global forest cover.
Its boreal forests store twice as much carbon per unit as tropical forests and help regulate the global carbon footprint.
The United States, on the other hand, holds about 8% of the world’s forests. Spread across 310 million hectares of land, these diverse forests range from the boreal forests of Alaska to pine plantations in the South, and the deciduous forests in the Eastern United States to the dry coniferous forests in the West. The country is also home to temperate rainforests along its West Coast and tropical rainforests in Puerto Rico and Hawaii.
The World’s Lost Forests
While China and a few select countries have proven that there is hope for building out the world’s forests, the story is different in other places around the world. This map by Adam Symington uses data from the University of Maryland to track the changes in the world’s forest cover from 2000 to 2021.
Since 2000, the world lost over 104 million hectares of pristine and intact forest landscapes. In 2020 alone, over 10 thousand square kilometers of the Amazon were destroyed for the development of roads.
Deforestation and fragmentation are caused by a range of human development activities. But they are also exacerbated by climate change, with increasing forest fires, hurricanes, droughts, and other extreme weather events, as well as invasive species and insect outbreaks upsetting forest ecosystems.
At the 2022 UN Biodiversity Conference (COP15) held in Montréal, nations across the world committed to the 30X30 plan, which called for the conservation of the world’s land and marine ecosystems by 2030. Alongside other commitments to end deforestation and grow the world’s canopies, there is still hope for the world’s forests.
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