A Distinctly Private Pursuit: Not going net zero

The analysis reveals a significant gap in climate action between large private and public companies, with private firms trailing in both the adoption of net zero targets and the publication of delivery plans. While 70% of the largest public companies have net zero targets, only 40% of the largest private companies have done so. Furthermore, only 20% of private companies with targets have published plans to deliver them, compared to 80% of public companies. Geographically, private companies in the EU and UK show higher adoption rates (75%) than those in the US (22%), while China has seen a slight increase from one to four companies with targets since 2022.

• Private companies significantly lag behind public companies in setting net zero and emission reduction targets. Among the world's largest 100 companies of each type, 40% of private companies have set net zero targets compared to 70% of public companies, and 52% of private companies have set either net zero or emission reduction targets compared to 82% of public companies.
• The quality and transparency of net zero strategies are substantially lower for private companies. Only 20% of the 40 private companies with net zero targets have published plans to achieve them, whereas 80% of the 70 public companies with targets have published such plans. Additionally, only IKEA (Netherlands) and Bechtel (US) among the private companies explicitly rule out carbon credits for achieving their goals.
• Net zero target adoption among the largest private companies varies by region: 75% of those headquartered in the EU and UK have targets, while only 22% of those in the US have targets. In China, four of the 16 headquartered private companies have net zero targets, an increase from one in 2022.
• Private companies face increasing transition risks as regulations move from voluntary to mandatory. In the EU, companies like E.Leclerc (FRA) and Mercadona (ESP) have no emission reduction targets, potentially leaving them unprepared for the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).

APA

Net Zero Tracker (2024). A Distinctly Private Pursuit: Not going net zero. https://zerotracker.net/analysis/private-companies-not-going-net-zero

Chicago

Net Zero Tracker. A Distinctly Private Pursuit: Not going net zero. 2024. https://zerotracker.net/analysis/private-companies-not-going-net-zero.

Wikipedia

{{cite report |author=Net Zero Tracker |title=A Distinctly Private Pursuit: Not going net zero |date=22 April 2024 |url=https://zerotracker.net/analysis/private-companies-not-going-net-zero |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{netzerotracker2024distinctly, author = {{Net Zero Tracker}}, title = {{A Distinctly Private Pursuit: Not going net zero}}, institution = {Net Zero Tracker}, year = {2024}, month = apr, url = {https://zerotracker.net/analysis/private-companies-not-going-net-zero}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }