Some 64% of the world’s largest companies, representing around $40 trillion in annual revenue, have net zero targets in place, according to the Net Zero Tracker’s Net Zero Stocktake 2026.
While the rapid growth in target-setting across major corporations has ‘stalled’, there is ‘little evidence of widespread abandonment’, the report found, with 92% retaining the same or similar net zero target status as in 2025.
Around the world
The proportion of US firms with net zero targets edged down from 52% to 51%, but still encompassed 289 companies with combined $13.1 trillion in annual revenue. In China, some 28% of firms have net zero targets, while the percentage of companies without any sort of emissions target in place fell from 65% to 58%.
Europe continues to lead the way when it comes to the setting of net zero targets, with said targets now covering 92% of EU company revenue, or around $7.3 billion. The UK and Japan also boast ‘near-universal’ adoption of net zero targets, the report noted.
The report also found that Scope 3 emissions still represent a challenge – while 93% of company targets cover Scope 1 and 2 emissions, less than half (48%) fully cover Scope 3, while a further 24% cover Scope 3 partially.
The Net Zero Stocktake assessed more than 4,000 countries, states and regions, cities and major companies, and found that overall, some 47% have a net zero or similar target in place, more than two and a half times the 18% recorded in 2020.
‘Held firm’
“Net zero target-setting has held firm globally and more detailed plans have emerged,” commented John Lang, lead, Net Zero Tracker, Energy and Climate Intelligence Unit.
“Dig beneath the surface and progress is uneven. But Chinese firms are catching up, and European firms continue to lead. In one sense it’s remarkable how many US firms have stuck with net zero – the only scientific way to stop climate change getting worse.”
“Conflicts are exposing the costs of fossil-fuel dependence, strengthening the case for net zero – clean energy goes hand in hand with energy security and lower import bills. At COP31, if leaders back the ‘35×35’ electrification target, they will help turn net zero goals into demonstrable progress.”
The Net Zero Stocktake is produced by the Net Zero Tracker consortium, which includes the Energy and Climate Intelligence Unit, NewClimate Institute, Data-Driven EnviroLab at the University of North Carolina and Oxford Net Zero. Read more here.
