Overview
Engagement through Climate Action 100+ focuses on companies who have a major role to play in the transition to a net-zero emissions economy. The initiative updates the focus list as required, removing or adding companies, to take account of factors such as changes in ownership or adding companies where appropriate on a case-by-case basis.
Phase 1 (2017 – 2023)
At the outset of the initiative, MSCI All Country World Index data and CDP modelled and reported data was used to identify 100 companies with some of the highest combined direct and indirect (i.e., Scopes 1, 2 and 3) greenhouse gas emissions globally. According to CDP, these initial 100 ‘focus companies’ were responsible for up to two-thirds of annual industrial carbon dioxide emissions when the initiative launched in 2017.
In July 2018, an additional 61 companies were added to the focus list based on an investor survey. Investors were invited to nominate additional focus companies that were deemed material to their investment portfolios, critical to the transition to a net-zero emissions economy, or that may be exposed to climate-related financial risks not captured by emissions data. These additional companies formed what was known as the ‘plus (+)’ list.
In November 2020, nine additional companies were added to the focus list as part of a limited top up, while two others were removed. In future years, the company focus list was further adjusted to reflect corporate actions at focus companies.1 By the end of the initiative’s first phase, 167 companies were engaged via Climate Action 100+.
Phase 2 (2023 – 2030)
In June 2023, as part of a focus list refresh for Phase 2, fourteen companies were added to the focus list, while ten companies were removed. This update followed the Phase 2 signatory consultation, where it was agreed the focus list would remain broadly the same to ensure engagement continuity. A review of the latest CDP data (Scopes 1, 2 and 3) and investor perspectives was also conducted to support changes to the focus list.
