Fortune 500 companies are estimated to be responsible for around 27% of global emissions.
Global GHG emissions totaled 49.7 billion tonnes of CO₂ equivalent (tCO₂e) in 2019, meanwhile Fortune 500 companies accounted for 13.15 billion tonnes of CO₂ equivalent.
Only about half of the Fortune 500 are voluntarily reporting their greenhouse gas emissions, either in full or in part. How much did they report?
Actual reported emissions from Fortune 500 companies equalled 8.04 billion tonnes CO2e in 2018 and 7.56 billion tonnes CO2e in 2019.
Scope 3 (value-chain) emissions account for over three-quarters of all reported emissions.
Fortune 500 aggregate Scope 3 emissions totaled 5.68 tonnes CO₂ in 2019.
Total emissions from the Fortune 500 decreased from 2018 to 2019, but only slightly.
The combined GHG footprint for Fortune 500 companies is estimated to have been 13.34 billion tonnes CO2e in 2018 and 13.15 billion tonnes CO2e in 2019.
Comprehensive and transparent emission reporting is fundamental for businesses, governments, and scientists to realistically meet Science-Based Targets.
Corporate emission footprints publicly disclosed to stakeholders often cite lower volumes of emissions than what is disclosed to CDP.
Efficient carbon removal is essential to meeting climate targets.
A combination of carbon removal and renewable energy deployment are the only solutions currently available that have the potential to match the GHG reduction needed, based on estimated emission rates, however their efficacy is dependent on the ability to scale these two industries at an urgent pace.
Current regulation is not enough.
Stronger governmental regulation and oversight is likely required to ensure both emission reporting and emission reductions accelerate on schedule with science-based targets.