The latest Net Zero Company Benchmark assessments examine how Climate Action 100+ focus companies are managing climate-transition opportunities and risks, including emissions reduction, climate governance, climate policy engagement and transition planning.
Key findings
The 2026 Company Benchmark assessments show that many CA100+ focus companies have established long-term climate targets and strengthened climate governance. However, the results also point to gaps in near-term transition planning, future investment disclosure, alignment of climate policy engagement and financial considerations.
Emissions targets and transition planning
Most companies maintain long-term Greenhouse-Gas (GHG) reduction targets, but few disclose how this will be achieved in the medium- and short-term.
- 37% of companies have consistently reduced emissions since 2019 (15% aligned with a 1.5C trajectory), although 24% have seen emissions increase. Of the 140 companies assessed, 38% did not have corporate disclosures that enabled the assessment of changes in emissions.
- 37% of companies meet the assessment criteria for long-term (2036 to 2050) GHG reduction targets, compared with 6% for medium-term (2031 to 2035) and 22% for short-term (2026-30).
- North American companies continue to regress on GHG targets, a trend investors are responding to.
Investment in climate solutions
Most companies report current revenues, production or capital investment related to climate solutions, demonstrating the financial relevance of the energy transition. Fewer disclose their intended future investment in climate solutions.
- 64% of focus companies disclose revenue or production from climate solutions during the previous year.
- 55% disclose investment in climate solutions during the previous year.
- 37% disclose intended future investment in climate solutions.
Climate policy engagement
Climate policy engagement commitments and disclosure continue to develop, although alignment with the goals of the Paris Agreement varies considerably by region.
- Europe continues to lead in both the quality and volume of climate policy review commitments, with 18% of European companies aligning their direct climate policy engagement activities with the goals of the Paris Agreement.
- Companies in Asia have increased publication of climate policy reviews (14%, compared with 11% in 2025 and 5% in 2024).
- Australia records the lowest regional misalignment on disclosure and transparency and the highest share of aligned direct climate policy disclosure.
- In the United States, the number of companies misaligned on climate policy engagement continues to grow (59% compared with 55% in 2025 and 53% in 2024).
Governance and financial considerations
Climate and transition considerations are widely reflected in company governance, but financial considerations continue to lag.
- 96% of companies assign responsibility for transition planning oversight to their highest governance body.
- 49% of companies link executive remuneration to climate-mitigation metrics.
- Results on corporate climate accounting and audit disclosures showed little progress, although there is some growing evidence of consideration of physical climate risks in financial reporting.
- The majority of investments by oil & gas companies remain misaligned with the goals of the Paris Agreement. Only 2 of the 30 companies assessed had recent upstream investments (sanctioned in 2025) that were compatible with the IEA’s Announced Pledges Scenario (APS).
Regional perspectives
The 2026 assessments show distinct regional patterns in company transition planning, climate policy engagement and disclosure.
- Europe: Four European companies fully meet the Benchmark’s Just Transition indicator: EDF, Enel, Holcim and SSE. Six European companies improved commitments to Just Transition principles, while three strengthened disclosures of Just Transition planning and progress monitoring.
- Latin America: Suzano and Grupo México made progress against Just Transition criteria that investor groups have identified as engagement priorities. Suzano also met additional criteria related to Paris-aligned lobbying and engagement with relevant trade associations.
- North America: Among North American electric utilities, none of the 16 companies assessed has a medium-term emissions target covering 2031-2035. However, 13 disclose planned future low-carbon capital expenditure, and nearly half are reducing emissions intensity in line with a 1.5°C benchmark.
- Asia: More than half of Asian focus companies disclose revenue from, or production of, climate solutions, alongside an emerging trend towards disclosure of investment in climate solutions.
- Australasia: More than half of the Australian companies reduced emissions intensity year-on-year across industrials, diversified mining, transport and electricity generation. Companies incorporating just transition planning in disclosures doubled relative to last year. Most companies remain partially aligned against the indicators for decarbonisation strategy and short-term targets.
Access the assessments
Company-level assessments are available on the Climate Action 100+ website. Signatories can also access a data sheet, alongside additional summary findings and commentary from data providers, through the signatory portal(login required).
Drawing on data from multiple providers, the Benchmark serves as a resource for investors that may be used alongside other external and/or proprietary assessments of corporate progress.
The 2026 Benchmark uses an updated framework and a revised group of data partners. Changes to data providers, methodologies, and definitions for short- and medium-term targets mean that some progress scores are marked “Not Applicable”. Indicators with valid year-on-year comparisons are identified in these key findings, the website scorecards and the data sheet. Read about the updated 2026 framework and data partners here.