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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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Energy

Visualizing China’s Energy Transition in 5 Charts

This infographic takes a look at what China’s energy transition plans are to make its energy mix carbon neutral by 2060.

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China Energy Mix

Visualizing China’s Energy Transition in 5 Charts

In September 2020, China’s President Xi Jinping announced the steps his nation would take to reach carbon neutrality by 2060 via videolink before the United Nations Assembly in New York.

This infographic takes a look at what this ambitious plan for China’s energy would look like and what efforts are underway towards this goal.

China’s Ambitious Plan

A carbon-neutral China requires changing the entire economy over the next 40 years, a change the IEA compares to the ambition of the reforms that industrialized the country’s economy in the first place.

China is the world’s largest consumer of electricity, well ahead of the second place consumer, the United States. Currently, 80% of China’s energy comes from fossil fuels, but this plan envisions only 14% coming from coal, oil, and natural gas in 2060.

Energy Source20252060% Change
Coal52%3%-94%
Oil18%8%-56%
Natural Gas10%3%-70%
Wind4%24%+500%
Nuclear3%19%+533%
Biomass2%5%+150%
Solar3%23%+667%
Hydro8%15%+88%

Source: Tsinghua University Institute of Energy, Environment and Economy; U.S. EIA

According to the Carbon Brief, China’s 14th five-year plan appears to enshrine Xi’s goal. This plan outlines a general and non specific list of projects for a new energy system. It includes the construction of eight large-scale clean energy centers, coastal nuclear power, electricity transmission routes, power system flexibility, oil-and-gas transportation, and storage capacity.

Progress Towards Renewables?

While the goal seems far off in the future, China is on a trajectory towards reducing the carbon emissions of its electricity grid with declining coal usage, increased nuclear, and increased solar power capacity.

According to ChinaPower, coal fueled the rise of China with the country using 144 million tonnes of oil equivalent “Mtoe” in 1965, peaking at 1,969 Mtoe in 2013. However, its share as part of the country’s total energy mix has been declining since the 1990s from ~77% to just under ~60%.

Another trend in China’s energy transition will be the greater consumption of energy as electricity. As China urbanized, its cities expanded creating greater demand for electricity in homes, businesses, and everyday life. This trend is set to continue and approach 40% of total energy consumed by 2030 up from ~5% in 1990.

Under the new plan, by 2060, China is set to have 42% of its energy coming from solar and nuclear while in 2025 it is only expected to be 6%. China has been adding nuclear and solar capacity and expects to add the equivalent of 20 new reactors by 2025 and enough solar power for 33 million homes (110GW).

Changing the energy mix away from fossil fuels, while ushering in a new economic model is no small task.

Up to the Task?

China is the world’s factory and has relatively young industrial infrastructure with fleets of coal plants, steel mills, and cement factories with plenty of life left.

However, China also is the biggest investor in low-carbon energy sources, has access to massive technological talent, and holds a strong central government to guide the transition.

The direction China takes will have the greatest impact on the health of the planet and provide guidance for other countries looking to change their energy mixes, for better or for worse.

The world is watching…even if it’s by videolink.

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Energy

Visualizing 50+ Years of the G20’s Energy Mix

Watch how the energy mix of G20 countries has evolved over the last 50+ years.

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G20 Energy Mix share

Visualizing 50+ Years of the G20’s Energy Mix (1965–2019)

Over the last 50 years, the energy mix of G20 countries has changed drastically in some ways.

With many countries and regions pledging to move away from fossil fuels and towards cleaner sources of energy, the overall energy mix is becoming more diversified. But shutting down plants and replacing them with new sources takes time, and most countries are still incredibly reliant on fossil fuels.

This video from James Eagle uses data from BP’s Statistical Review of World Energy to examine how the energy mix of G20 members has changed from 1965 to 2019.

G20’s Energy History: Fossil Fuel Dependence (1965–1999)

At first, there was oil and coal.

From the 1960s to the 1980s, energy consumption in the G20 countries relied almost entirely on these two fossil fuels. They were the cheapest and most efficient sources of energy for most, though some countries also used a lot of natural gas, like the United States, Mexico, and Russia.

Country (Energy Mix - 1965)OilCoalOther
🇦🇷 Argentina83%3%14%
🇦🇺 Australia45%50%5%
🇧🇷 Brazil66%8%26%
🇨🇦 Canada47%13%40%
🇨🇳 China8%87%5%
🇪🇺 EU47%45%8%
🇫🇷 France49%37%14%
🇩🇪 Germany34%63%3%
🇮🇳 India24%67%9%
🇮🇩 Indonesia86%2%12%
🇮🇹 Italy66%11%23%
🇯🇵 Japan56%31%13%
🇲🇽 Mexico61%3%36%
🇷🇺 Russia29%50%21%
🇸🇦 Saudi Arabia98%0%2%
🇿🇦 South Africa19%81%0%
🇰🇷 South Korea20%77%3%
🇹🇷 Turkey46%47%7%
🇬🇧 UK38%59%3%
🇺🇸 U.S.45%22%33%

But the use of oil for energy started to decrease, beginning most notably in the 1980s. Rocketing oil prices forced many utilities to turn to coal and natural gas (which were becoming cheaper), while others in countries like France, Japan, and the U.S. embraced the rise of nuclear power.

This is most notable in countries with high historic oil consumption, like Argentina and Indonesia. In 1965, these three countries relied on oil for more than 83% of energy, but by 1999, oil made up just 55% of Indonesia’s energy mix and 36% of Argentina’s.

Even Saudi Arabia, the world’s largest oil exporter, began to utilize oil less. By 1999, oil was used for 65% of energy in the country, down from a 1965 high of 97%.

G20’s Energy Mix: Gas and Renewables Climb (2000–2019)

The conversation around energy changed in the 21st century. Before, countries were focused primarily on efficiency and cost, but very quickly, they had to start contending with emissions.

Climate change was already on everyone’s radar. The UN Framework Convention on Climate Change was signed in 1992, and the resulting Kyoto Protocol aimed at reducing greenhouse gas emissions was signed in 1997.

But when the Kyoto Protocol went into effect in 2005, countries had very different options available to them. Some started to lean more heavily on hydroelectricity, though countries that already utilized them like Canada and Brazil had to look elsewhere. Others turned to nuclear power, but the 2011 Fukushima nuclear disaster in Japan turned many away.

This is the period of time that renewables started to pick up steam, primarily in the form of wind power at first. By 2019, the G20 members that relied on renewables the most were Brazil (16%), Germany (16%), and the UK (14%).

Country (Energy Mix - 2019)Natural GasNuclearHydroelectricRenewablesOther
🇦🇷 Argentina49%2%10%4%35%
🇦🇺 Australia30%0%2%7%61%
🇧🇷 Brazil10%1%29%16%44%
🇨🇦 Canada31%6%24%4%35%
🇨🇳 China8%2%8%5%77%
🇪🇺 EU22%11%4%10%53%
🇫🇷 France16%37%5%6%36%
🇩🇪 Germany24%5%1%16%54%
🇮🇳 India6%1%4%4%85%
🇮🇩 Indonesia18%0%2%4%76%
🇮🇹 Italy40%0%6%10%44%
🇯🇵 Japan21%3%4%6%66%
🇲🇽 Mexico42%1%3%5%49%
🇷🇺 Russia54%6%6%0%34%
🇸🇦 Saudi Arabia37%0%0%0%63%
🇿🇦 South Africa3%2%0%2%93%
🇰🇷 South Korea16%11%0%2%71%
🇹🇷 Turkey24%0%12%6%58%
🇬🇧 UK36%6%1%14%43%
🇺🇸 U.S.32%8%3%6%51%

However, the need to reduce emissions quickly made many countries make a simpler switch: cut back on oil and coal and utilize more natural gas. Bituminous coal, one of the most commonly used in steam-electric power stations, emits 76% more CO₂ than natural gas. Diesel fuel and heating oil used in oil power plants emit 38% more CO₂ than natural gas.

As countries begin to push more strongly towards a carbon-neutral future, the energy mix of the 2020s and onward will continue to change.

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