Global commitments to cut emissions and reach net zero remain ‘intact’, the latest Net Zero Stocktake by the Net Zero Tracker (NZT) has found.
Commitments from companies, cities, and regions continue to accelerate, even despite the United States government stepping back from its national net zero pledge, the report, released during New York Climate Week, revealed.
According to the report, more than three quarters (77%) of global GDP is currently covered by national net zero commitments, a decrease from 93% the previous year due to the US government pullback.
US businesses maintain momentum
At the same time, US-based businesses have maintained their momentum, with the percentage of firms with net zero targets in place rising 9% in a year.
Combined, the US companies with net zero commitments represent $12 billion in global annual revenue; around two thirds (64%) of the total revenue of assessed US companies.
“From the devastating LA fires to floods in Pakistan, 2025 has shown why reaching net zero, the only way to halt rising temperatures, is so urgent,” commented John Lang, lead, Net Zero Tracker.
“Talk of a ‘net zero recession’ is overblown. Backtracking is confined to fossil fuels and their financiers, while more companies are moving from box-ticking to real emission cuts — a long-overdue reset.”
Global commitment
At a global level, companies with a collective revenue of $36.6 trillion – or 70% of the revenue in the Forbes Global 2000 list – have net zero targets in place.
Notably, target-setting continues to increase in Asia, with the number of committed firms rising in China (48 to 60), India (29 to 34), Japan (from 184 to 199), South Korea (41 to 48), Taiwan (26 to 35) and Thailand (11 to 15).
“Ten years post-Paris Agreement, net zero has become a widely accepted shared ambition and vision for companies, regions and cities,” commented Saskia Straub, analyst, NewClimate Institute.
“Leading companies have already begun to implement robust plans to back up targets. The message is clear: it’s time for others to catch up or risk being left behind.”
Integrity criteria
Elsewhere, the report finds modest improvements in the quality of targets but highlights significant gaps. For example, only 7% of company commitments meet the UN Race to Zero’s integrity criteria, which include coverage of all emissions scopes, clear offsetting conditions, and annual progress reporting.
In terms of city net zero targets, just 4% meet integrity criteria, as do 6.5% of regions, the report found.
“This is 2025. If a major company, city or state still has no target or plan for being part of a climate-safe future, you have to ask if they are risking their own economic and environmental opportunities, as well as the world’s,” added Dr. Steve Smith, executive director, Oxford Net Zero and CO2RE, Read more here.
