Publicly-listed US firms have reported solid progress in reducing their greenhouse gas emissions since 2021, however outcomes vary by company size, a new report by The Conference Board has found.
The report, which tracked Scope 1 and Scope 2 GHG emissions trends in the Russell 3000 and S&P 500, based on 2021–2025 disclosures, found that emissions have steadily declined at US public companies over the five year period.
Scope 1 emissions
In terms of Scope 1, reported median Scope 1 emissions totalled 37,000 metric tonnes at the assessed firms in 2021, dropping to 30,000 metric tonnes in 2022, 26,000 metric tonnes in 2023 and 20,000 metric tonnes in 2024.
However, this year has seen Scope 1 emissions rise slightly, to 23,000 metric tonnes.
Scope 2 emissions
The decline is more pronounced in terms of Scope 2 emissions, which are segregated into two groups – location-based emissions and market-based emissions.
For Scope 2 (location-based) emissions, total emissions stood at 117,000 metric tonnes in 2021, dropping to 65,000 metric tonnes a year later, 51,000 metric tonnes in 2023, 44,000 metric tonnes in 2024 and 39,000 metric tonnes in 2025.
In terms of Scope 2 (market-based) emissions, total emissions were 91,000 metric tonnes in 2021, 54,000 in 2022, 35,000 in 2023, 24,000 in 2024 and 22,000 this year.
The Conference Board defines Scope 1 emissions as those directly generated by company-owned or controlled sources, such as facilities or vehicles. Scope 2 emissions, meanwhile, are tied to the electricity or other energy purchased by companies. These are either reported using a location-based approach, which reflects the average emissions of the power grid, or a market-based method, which takes into account specific energy procurement choices such as renewable contracts.
Scope 3 emissions, which are not covered in The Conference Board’s study, cover indirect activities across the value chain, including supplier operations and customer use of products. Read more here.
