Net Zero Stocktake 2023

The Net Zero Stocktake 2023 finds that while the number of entities with net zero targets has grown to 1,475, a significant portion of sub-national governments and large companies still lack any emission reduction targets. While national targets are increasingly underpinned by legislation, there is limited improvement in the robustness of corporate and sub-national strategies, particularly regarding Scope 3 emissions and the use of offsets. Notably, no major fossil fuel producers have committed to phasing out fossil fuels despite having net zero pledges.

• The number of entities with net zero targets has increased from 769 in December 2020 to at least 1,475. While growth in national and sub-national targets has slowed, momentum among companies continues, with the number of large publicly-listed companies with net zero targets increasing from 417 to 929 in just over two years.
• There has been a substantial increase in the proportion of national government net zero targets supported by policy documents or legislation, rising from 7% to 75% over two and a half years, with 72 countries now having targets enshrined in law or policy.
• A significant number of entities still lack any emission reduction targets, including four UNFCCC member states, 734 of the world's largest publicly listed companies, 766 major cities, and 439 states and regions in the top 25 emitting countries. Sectoral gaps are particularly high in Biotech, Health Care & Pharma (44%), Infrastructure (46%), and Retail (26%).
• The integrity of sub-national and corporate targets shows little improvement, with essentially no progress in meeting all six Race to Zero criteria. Key concerns include the lack of Scope 3 emissions coverage and unregulated offsets. Additionally, none of the 114 fossil fuel companies in the database plan to fully transition away from fossil assets or businesses, despite having net zero targets.
• There is an increasing trend of entities specifying the use of carbon dioxide removals (CDR) in their value chains, with at least 25% of companies planning to use CDR, including through 'insetting' or procuring carbon credits.

APA

Net Zero Tracker (2023). Net Zero Stocktake 2023. https://zerotracker.net/analysis/net-zero-stocktake-2023

Chicago

Net Zero Tracker. Net Zero Stocktake 2023. 2023. https://zerotracker.net/analysis/net-zero-stocktake-2023.

Wikipedia

{{cite report |author=Net Zero Tracker |title=Net Zero Stocktake 2023 |date=12 June 2023 |url=https://zerotracker.net/analysis/net-zero-stocktake-2023 |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{netzerotracker2023net, author = {{Net Zero Tracker}}, title = {{Net Zero Stocktake 2023}}, institution = {Net Zero Tracker}, year = {2023}, month = jun, url = {https://zerotracker.net/analysis/net-zero-stocktake-2023}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }