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class="hero"><figure class="hero-image"><img sizes="100vw" srcset="https://www.climateaction100.org/wp-content/uploads/2021/02/wind-1-375x634.png 375w, https://www.climateaction100.org/wp-content/uploads/2021/02/wind-1.png 1200w, https://www.climateaction100.org/wp-content/uploads/2021/02/wind-1.png 1920w" alt="" class="object-fit" src="https://www.climateaction100.org/wp-content/uploads/2021/02/wind-1.png"></figure><header class="hero-info"><div class="hero-inner"><h1 class="hero-title">Background: Net Zero Company Benchmark</h1><div class="hero-summary"><p></p></div><div class="hero-download"></div></div></header></div></section><div class="main-section" id="content"><div class="container"><article class="article"><div class="content clearfix"></div></article></div></div><div class="components"><section class="section section-accordions section-accordions-left light"><div class="container"><header class="section-header container"><h2 class="section-header-title">Benchmark Timeline</h2><p class="section-header-summary">Follow the timeline from early 2020 to today.</p></header><div class="accordion"><h3><button id="accordion-button-1" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-1"> Early 2020 | Developing the Benchmark Framework <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-1" class="accordion-panel" aria-labelledby="accordion-button-1" tabindex="-1"><p><p><span data-contrast="none">Climate Action 100+ worked with EY to develop a framework for capturing and structuring the data needed to assess company performance against the initiative’s goals and those of the Paris Agreement. This work involved 50 signatory investors, investor network experts, leading climate research and data organisations and corporate stakeholders. The resulting framework became the Climate Action 100+ Net Zero Company Benchmark. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none"> </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">The Climate Action 100+ Technical Advisory Group was made up of </span><a href="https://carbontracker.org/" target="_blank" rel="noopener"><span data-contrast="none">Carbon Tracker Initiative</span></a><span data-contrast="none"> (CTI), </span><a href="https://influencemap.org/" target="_blank" rel="noopener"><span data-contrast="none">InfluenceMap</span></a><span data-contrast="none"> (IM), </span><a href="https://www.transitionpathwayinitiative.org/" target="_blank" rel="noopener"><span data-contrast="none">Transition Pathway Initiative</span></a><span data-contrast="none"> (TPI) and </span><a href="https://2degrees-investing.org/" target="_blank" rel="noopener"><span data-contrast="none">2° Investing Initiative</span></a><span data-contrast="none"> (2DII) (now the <a href="https://rmi.org/" target="_blank" rel="noopener">Rocky Mountain Institute</a>, RMI). This group has been central to the overall development of the Benchmark, as well as to the indicators and assessments used to evaluate company alignment with the initiative’s goals. The Benchmark was developed under the leadership and support of the Climate Action 100+ Steering Committee and the investor network staff. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none"> </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">Once the Benchmark was finalised, TPI’s research partner at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science (LSE) was selected to conduct the company research and analysis for the Disclosure Framework. Additionally, CTI and 2DII (now RMI) were chosen to analyse focus company capital expenditures (CapEx) and output relative to a range of climate change scenarios. These were initially called <em>Capital Allocation Indicators</em> and were available for companies in select sectors. They are now known as <em>Capital Allocation Alignment Assessments</em>. The 2021 assessments also included a link to Influence Map (IM)’s data on corporate climate policy engagement practices and their individual IM company profiles to provide deeper insights into focus company approaches to climate policy engagement.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-2" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-2"> September 2020 | Letter to CEOs and Lead Independent Directors of Focus Companies <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-2" class="accordion-panel" aria-labelledby="accordion-button-2" tabindex="-1"><p><p><span class="TextRun SCXW9926313 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW9926313 BCX0">The Climate Action 100+ Steering Committee and lead investors sent a letter to the CEO and lead independent director(s) of the focus companies. The letter was accompanied by a provisional copy of the Benchmark framework and other relevant contextual information. The </span><span class="NormalTextRun SCXW9926313 BCX0">objectives</span><span class="NormalTextRun SCXW9926313 BCX0"> of the letter were to introduce the new </span><span class="NormalTextRun SpellingErrorV2Themed SCXW9926313 BCX0">standardised</span><span class="NormalTextRun SCXW9926313 BCX0"> progress reporting framework for Climate Action 100+ and outline expectations linked to the new Benchmark. </span><span class="NormalTextRun SCXW9926313 BCX0">The letter</span><span class="NormalTextRun SCXW9926313 BCX0"> also encouraged companies to make new commitments and </span><span class="NormalTextRun SCXW9926313 BCX0">provided</span><span class="NormalTextRun SCXW9926313 BCX0"> an opportunity to </span><span class="NormalTextRun SCXW9926313 BCX0">participate</span><span class="NormalTextRun SCXW9926313 BCX0"> in the development and implementation of </span></span><a class="Hyperlink SCXW9926313 BCX0" href="https://www.climateaction100.org/approach/global-sector-strategies/" target="_blank" rel="noreferrer noopener"><span class="TextRun Underlined SCXW9926313 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW9926313 BCX0" data-ccp-charstyle="Hyperlink">sector-specific net zero transition action plans</span></span></a><span class="TextRun SCXW9926313 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW9926313 BCX0">.</span></span><span class="EOP SCXW9926313 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-3" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-3"> December 2020 | Company Review of Preliminary Disclosure Framework Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-3" class="accordion-panel" aria-labelledby="accordion-button-3" tabindex="-1"><p><p><span class="TextRun SCXW158010082 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW158010082 BCX0">The framework for the Climate Action 100+ Net Zero Company Benchmark was </span><span class="NormalTextRun SCXW158010082 BCX0">publicly announced</span><span class="NormalTextRun SCXW158010082 BCX0"> in the initiative’s </span></span><a class="Hyperlink SCXW158010082 BCX0" href="https://www.climateaction100.org/progress/progress-update/" target="_blank" rel="noreferrer noopener"><span class="TextRun Underlined SCXW158010082 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW158010082 BCX0" data-ccp-charstyle="Hyperlink">2020 Progress Report</span></span></a><span class="TextRun SCXW158010082 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW158010082 BCX0">. Preliminary company assessments against the Disclosure Framework were prepared by TPI’s research partner based on public data as of 30 September 2020. Companies, as well as Climate Action 100+ lead investors and individual engagers, were invited to review these assessments </span><span class="NormalTextRun SCXW158010082 BCX0">for accuracy of data. Companies were invited to </span><span class="NormalTextRun SCXW158010082 BCX0">provide</span><span class="NormalTextRun SCXW158010082 BCX0"> factual evidence to contest any inaccuracies, as well as </span><span class="NormalTextRun SCXW158010082 BCX0">submit</span><span class="NormalTextRun SCXW158010082 BCX0"> any new and valid publicly disclosed information for consideration.</span></span><span class="EOP SCXW158010082 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-4" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-4"> March 2021 | Publication of the First Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-4" class="accordion-panel" aria-labelledby="accordion-button-4" tabindex="-1"><p><p><span data-contrast="none">Climate Action 100+ </span><a href="https://www.climateaction100.org/news/climate-action-100-issues-its-first-ever-net-zero-company-benchmark-of-the-worlds-largest-corporate-emitters/"><span data-contrast="none">published</span></a><span data-contrast="none"> the first Net Zero Company Benchmark company assessments in March 2021, ahead of the 2021 US and Europe proxy season. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none"> </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">The Benchmark assessments highlighted that whilst there was growing global momentum around focus companies making ambitious climate commitments (52% had announced a net zero emissions ambition by 2050 or sooner in some form), on the whole focus companies still had a long way to go in delivering on these promises. No focus company performed at a high-level across all of the nine disclosure-based Indicators and Metrics that were used to evaluate each company. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none"> </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">Similarly, the Alignment Assessments provided by CTI and 2DII (now RMI) showed that there was still room for significant progress in terms of aligning companies’ CapEx and economic outputs with the Paris Agreement goals.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-5" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-5"> October 2021 | Update on Timelines for Future Benchmark Iterations <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-5" class="accordion-panel" aria-labelledby="accordion-button-5" tabindex="-1"><p><p><span class="TextRun SCXW63279636 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW63279636 BCX0">Climate Action 100+ <a href="https://www.climateaction100.org/news/climate-action-100-shares-net-zero-company-benchmark-update-and-timeline-for-2022/" target="_blank" rel="noopener">announced the timeline</a></span></span><span class="TextRun SCXW63279636 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW63279636 BCX0">, amendments to the Benchmark framework and methodologies for the March 2022 company assessments</span><span class="NormalTextRun SCXW63279636 BCX0"> in October 2021</span><span class="NormalTextRun SCXW63279636 BCX0">. Among other amendments, </span></span><a class="Hyperlink SCXW63279636 BCX0" href="https://www.climateaction100.org/wp-content/uploads/2022/03/Benchmark-v1.1-summary-pack-Oct21.pdf" target="_blank" rel="noreferrer noopener"><span class="TextRun Underlined SCXW63279636 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW63279636 BCX0" data-ccp-charstyle="Hyperlink">upd</span><span class="NormalTextRun SCXW63279636 BCX0" data-ccp-charstyle="Hyperlink">a</span><span class="NormalTextRun SCXW63279636 BCX0" data-ccp-charstyle="Hyperlink">tes</span></span></a><span class="TextRun SCXW63279636 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW63279636 BCX0"> reflect</span><span class="NormalTextRun SCXW63279636 BCX0">ed</span><span class="NormalTextRun SCXW63279636 BCX0"> evolving investor priorities around climate accounting and audit and the just transition. New Alignment Assessments were added to </span><span class="NormalTextRun SCXW63279636 BCX0">provide</span><span class="NormalTextRun SCXW63279636 BCX0"> further information on company climate policy engagement approaches as well as detail on how the emissions intensities of steel, cement, and aviation companies measured up against key climate scenarios.</span></span><span class="EOP SCXW63279636 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-6" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-6"> November 2021 | Public Feedback Survey <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-6" class="accordion-panel" aria-labelledby="accordion-button-6" tabindex="-1"><p><p><span class="TextRun SCXW125857611 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW125857611 BCX0">Climate Action 100+ opened a public feedback survey on the framework and methodologies used for the March 2022 Benchmark company assessments. The survey was open until 30 April 2022. The feedback was collated and considered for integration into the </span><span class="NormalTextRun SCXW125857611 BCX0">methodology</span><span class="NormalTextRun SCXW125857611 BCX0"> used for company assessments in 2023.</span></span><span class="EOP SCXW125857611 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-7" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-7"> December 2021 | Company Review of Preliminary Disclosure Framework Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-7" class="accordion-panel" aria-labelledby="accordion-button-7" tabindex="-1"><p><p><span class="TextRun SCXW69714009 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW69714009 BCX0">Focus companies received their preliminary assessments using the Disclosure Framework on 1 December</span><span class="NormalTextRun SCXW69714009 BCX0"> 2021</span><span class="NormalTextRun SCXW69714009 BCX0">, prepared by </span><span class="NormalTextRun SCXW69714009 BCX0">TPI</span><span class="NormalTextRun SCXW69714009 BCX0"> and based on public data as of mid-November 2021. Companies, as well as Climate Action 100+ lead investors and individual engagers, were invited to review these assessments for accuracy of data, </span><span class="NormalTextRun SCXW69714009 BCX0">provide</span><span class="NormalTextRun SCXW69714009 BCX0"> factual evidence to contest any inaccuracies, as well as </span><span class="NormalTextRun SCXW69714009 BCX0">submit</span><span class="NormalTextRun SCXW69714009 BCX0"> any new and valid publicly disclosed information for consideration by 31 December 2021.</span></span><span class="EOP SCXW69714009 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-8" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-8"> March 2022 | Publication of the Second Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-8" class="accordion-panel" aria-labelledby="accordion-button-8" tabindex="-1"><p><p><span data-contrast="none">Climate Action 100+ </span><a href="https://www.climateaction100.org/news/climate-action-100-net-zero-company-benchmark-shows-an-increase-in-company-net-zero-commitments-but-much-more-urgent-action-is-needed-to-align-with-a-1-5c-future/"><span data-contrast="none">published</span></a><span data-contrast="none"> the second set of Climate Action 100+ Net Zero Company Benchmark assessments in March 2022, ahead of the 2022 US and Europe proxy season. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none"> </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">The results showed some corporate progress, but found that much more action was urgently needed from focus companies to support global efforts to limit temperature rise to 1.5°C. For example, the Benchmark found that while 69% of focus companies had set commitments to achieve net zero emissions by 2050 or sooner in some form, overall companies were failing to show progress across key indicators, including disclosure of 1.5°C-aligned medium-term emissions reduction targets and detailed CapEx strategies.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-9" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-9"> April-May 2022 | Company Review of Preliminary Disclosure Framework Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-9" class="accordion-panel" aria-labelledby="accordion-button-9" tabindex="-1"><p><p aria-level="3"><span class="TextRun SCXW132786270 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW132786270 BCX0">On 12 April 2022, focus companies were invited to notify the initiative of any relevant commitments, disclosures, or feedback that was not reflected in their final March 2022 Benchmark assessments and which they believe</span><span class="NormalTextRun SCXW132786270 BCX0">d</span><span class="NormalTextRun SCXW132786270 BCX0"> could improve their scores in the October 2022 Benchmark</span><span class="NormalTextRun SCXW132786270 BCX0"> assessments</span><span class="NormalTextRun SCXW132786270 BCX0">. The deadline for company responses was 13 May</span><span class="NormalTextRun SCXW132786270 BCX0"> 2022</span><span class="NormalTextRun SCXW132786270 BCX0">. </span></span><span class="TextRun SCXW132786270 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW132786270 BCX0"> </span></span><span class="EOP SCXW132786270 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-10" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-10"> October 2022 | Publication of the Third (Interim) Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-10" class="accordion-panel" aria-labelledby="accordion-button-10" tabindex="-1"><p><p><span data-contrast="none">Climate Action 100+ </span><a href="https://www.climateaction100.org/news/climate-action-100-net-zero-company-benchmark-shows-continued-progress-on-net-zero-commitments-is-not-matched-by-development-and-implementation-of-credible-decarbonisation-strategies/"><span data-contrast="none">published</span></a><span data-contrast="none"> the third set of Net Zero Company Benchmark assessments in October 2022. As this was the second set of Benchmark assessments released in 2022 and the last set before the end of the initial phase or five-year time horizon of the initiative, these were considered “interim assessments”. The timing of their release also responded to investor feedback that publishing Benchmark data in September/October worked better for corporate reporting and engagement purposes. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none"> </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">To provide critical benchmarking data ahead of their annual general meetings, the initiative published updated Benchmark assessments for Australian focus companies in early September 2022. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-11" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-11"> October 2022 | Climate Action 100+ Opens Public Consultation to Enhance the Benchmark <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-11" class="accordion-panel" aria-labelledby="accordion-button-11" tabindex="-1"><p><p><span class="TextRun SCXW82584907 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW82584907 BCX0">C</span><span class="NormalTextRun SCXW82584907 BCX0">limate Action 100+ <a href="https://www.climateaction100.org/news/climate-action-100-opens-public-consultation-on-net-zero-company-benchmark-for-its-next-phase/">opened a consultation</a></span></span><span class="TextRun SCXW82584907 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW82584907 BCX0">on a set of proposals to enhance the Net Zero Company Benchmark for the next phase of Climate Action 100+, due to launch in 2023. The survey </span><span class="NormalTextRun SCXW82584907 BCX0">was</span><span class="NormalTextRun SCXW82584907 BCX0"> open </span><span class="NormalTextRun SCXW82584907 BCX0">for a month, </span><span class="NormalTextRun SCXW82584907 BCX0">until 11 November 2022. Signatories, focus companies, and other stakeholders </span><span class="NormalTextRun SCXW82584907 BCX0">we</span><span class="NormalTextRun SCXW82584907 BCX0">re encouraged to take this opportunity to share their perspectives on the future of the Benchmark.</span></span><span class="EOP SCXW82584907 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-12" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-12"> March 2023 | Climate Action 100+ releases updated Benchmark 2.0 framework <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-12" class="accordion-panel" aria-labelledby="accordion-button-12" tabindex="-1"><p><p><span class="TextRun SCXW198213762 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW198213762 BCX0">The initiative </span></span><span class="TextRun Underlined SCXW198213762 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW198213762 BCX0" data-ccp-charstyle="Hyperlink">released </span></span><span class="TextRun SCXW198213762 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW198213762 BCX0">an <a href="https://www.climateaction100.org/news/climate-action-100-releases-the-latest-evolution-of-the-net-zero-company-benchmark/">updated Benchmark framework</a> (</span><span class="NormalTextRun SCXW198213762 BCX0">Benchmark 2.0</span><span class="NormalTextRun SCXW198213762 BCX0">) to ensure that it continues to effectively support investor engagements with focus companies during this critical decade. The enhancements embed</span><span class="NormalTextRun SCXW198213762 BCX0">ded</span><span class="NormalTextRun SCXW198213762 BCX0"> a stronger focus on emissions reductions, alignment with 1.5°C pathways and the robustness of transition plans.</span></span><span class="EOP SCXW198213762 BCX0" data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p></p></div><h3><button id="accordion-button-13" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-13"> October 2023 | Publication of the Fourth Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-13" class="accordion-panel" aria-labelledby="accordion-button-13" tabindex="-1"><p><p><span data-contrast="none">Climate Action 100+ </span><span data-contrast="none">published</span><span data-contrast="none"> the fourth set of Net Zero Company Benchmark assessments, against the updated Benchmark 2.0 framework. </span><span data-contrast="none">Updated Benchmark assessments for Australian focus companies were published in September 2023. Assessments for all other companies were released in October 2023. </span></p></p></div><h3><button id="accordion-button-14" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-14"> October 2024 | Publication of the Fifth Assessments <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-14" class="accordion-panel" aria-labelledby="accordion-button-14" tabindex="-1"><p><p><span class="TextRun Highlight SCXW11832660 BCX4" lang="EN-AU" xml:lang="EN-AU" data-contrast="none"><span class="NormalTextRun SCXW11832660 BCX4">Climate Action 100+</span><span class="NormalTextRun SCXW11832660 BCX4" data-ccp-charstyle="apple-converted-space" data-ccp-charstyle-defn="{"ObjectId":"aba05dc8-a51f-4c67-8be9-f965c9740b42|35","ClassId":1073872969,"Properties":[201342446,"1",201342447,"5",201342448,"1",201342449,"1",469777841,"Aptos",469777842,"",469777843,"Aptos",469777844,"Aptos",201341986,"1",469769226,"Aptos",268442635,"24",469775450,"apple-converted-space",201340122,"1",134233614,"true",469778129,"apple-converted-space",335572020,"1",469778324,"Default Paragraph Font"]}"> </span><span class="NormalTextRun SCXW11832660 BCX4">published</span><span class="NormalTextRun SCXW11832660 BCX4" data-ccp-charstyle="apple-converted-space"> </span><span class="NormalTextRun SCXW11832660 BCX4">the f</span><span class="NormalTextRun SCXW11832660 BCX4">if</span><span class="NormalTextRun SCXW11832660 BCX4">th set of Net Zero Company Benchmark assessments, against the Benchmark 2.</span><span class="NormalTextRun SCXW11832660 BCX4">1</span><span class="NormalTextRun SCXW11832660 BCX4"> framework</span><span class="NormalTextRun SCXW11832660 BCX4"> which included </span><span class="NormalTextRun CommentStart CommentHighlightPipeRestV2 CommentHighlightRest SCXW11832660 BCX4">minimal changes </span><span class="NormalTextRun CommentHighlightPipeRestV2 SCXW11832660 BCX4">since the 2023 (v2.o) Benchmark framework</span><span class="NormalTextRun SCXW11832660 BCX4">.</span></span></p><p><span class="TextRun Highlight SCXW11832660 BCX4" lang="EN-AU" xml:lang="EN-AU" data-contrast="none"><span class="NormalTextRun SCXW11832660 BCX4">Updated Benchmark assessments for Australian focus companies were provided to signatories only in September 202</span><span class="NormalTextRun SCXW11832660 BCX4">4</span><span class="NormalTextRun SCXW11832660 BCX4">. Assessments for all companies were published in October 202</span><span class="NormalTextRun SCXW11832660 BCX4">4</span><span class="NormalTextRun SCXW11832660 BCX4">.</span></span><span class="TextRun SCXW11832660 BCX4" lang="EN-AU" xml:lang="EN-AU" data-contrast="none"><span class="NormalTextRun SCXW11832660 BCX4"> </span></span><span class="EOP SCXW11832660 BCX4" data-ccp-props="{}"> </span></p></p></div><h3><button id="accordion-button-15" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-15"> What's next? <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-15" class="accordion-panel" aria-labelledby="accordion-button-15" tabindex="-1"><p><p>The next company review period will take place between May and June 2025. Feedback submitted to CA100+ before August 2024 will be considered in consultation with all research partners and potential changes to the assessment framework will be published at a similar time.</p><p>Any future additions to the Benchmark framework will not be assessed publicly in the first year of implementation. In these cases, assessments will be made in ‘Beta’ form meaning they are assessed for signatories but not published on our website.</p></p></div><h3><button id="accordion-button-16" class="accordion-button" aria-expanded="false" aria-controls="accordion-panel-16"> Future Development <span><svg class="icon icon-arrow-down" width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"><circle cx="12" cy="12" r="11.2941" fill="white" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="15.6647" y1="10.3815" x2="11.6716" y2="14.3745" stroke="#B2B2B2" stroke-width="1.41176"/><line x1="12.6703" y1="14.3746" x2="8.67723" y2="10.3815" stroke="#B2B2B2" stroke-width="1.41176"/></svg></span></button></h3><div id="accordion-panel-16" class="accordion-panel" aria-labelledby="accordion-button-16" tabindex="-1"><p><p><span class="TextRun SCXW46630434 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW46630434 BCX0">The Benchmark will continue to evolve based on investor priorities and the latest available information and methodologies for assessing companies’ climate transition preparedness and alignment with the goals of the Paris Agreement.</span></span></p></p></div></div></div></section></div></main><footer class="section footer"><div class="footer-top"><div class="container"><div class="footer-top-col"><ul class="footer-nav"><li class="footer-nav-item"><a href="/news/" class="nav-item-link" target="">News</a></li><li class="footer-nav-item"><a href="/whos-involved/companies/" class="nav-item-link" target="">Companies</a></li><li class="footer-nav-item"><a href="/whos-involved/investor-networks/" class="nav-item-link" target="">Investor Networks</a></li><li class="footer-nav-item"><a href="/disclaimer/" class="nav-item-link" target="">Disclaimer</a></li><li class="footer-nav-item"><a href="/privacy/" class="nav-item-link" target="">Privacy Policy</a></li><li class="footer-nav-item"><a href="/accessibility/" class="nav-item-link" target="">Accessibility</a></li><li class="footer-nav-item"><a href="/terms-of-use/" class="nav-item-link" target="">Terms of Use</a></li><li class="footer-nav-item"><a href="/sitemap/" class="nav-item-link" target="">Sitemap</a></li></ul></div><div class="footer-top-col"><div class="footer-bio"><p>Climate Action 100+ is an investor initiative to ensure the world’s largest corporate greenhouse gas emitters take appropriate action on climate change.</p></div><div class="footer-copyright"><p>Copyright © 2024 Climate Action 100+</p><p>Site design and build by <a href="http://www.fatbeehive.com/">Fat Beehive</a></p></div></div></div></div><div class="footer-bottom"><div class="container"><a href="/" class="footer-logo"><picture><source type="image/svg+xml" srcset="/assets/images/logo.svg" /><img src="/assets/images/logo.svg" width="40" height="40" alt="Background | Climate Action 100+" class="footer-logo-image" /></picture></a><div class="footer-networks"><p>Investor Networks</p><ul><li><a href="https://www.aigcc.net/" target="_blank"><img src="/assets/images/partners/AIG.png" alt="Asia investor group on climate change"></a></li><li><a href="https://www.ceres.org/" target="_blank"><img src="/assets/images/partners/CERES.png" alt="Ceres"></a></li><li><a href="https://www.igcc.org.au/" target="_blank"><img src="/assets/images/partners/IGCC.png" alt="Investor Group on Climate Change"></a></li><li><a href="https://www.iigcc.org/" target="_blank"><img src="/assets/images/partners/IIGCC-footer.png" alt="The Institutional investors group on climate change"></a></li><li><a href="https://www.unpri.org/" target="_blank"><img src="/assets/images/partners/PRI.png" alt="Principles for responsible investment"></a></li></ul></div></div></div></footer><script> (function() { if(!(document.cookie.match(/^(.*;)?\s*closefbalertbanner\s*=\s*[^;]+(.*)?$/))) { if( document.getElementById("fb-alert-banner") !== null ) { document.getElementById("fb-alert-banner").style.display = "block"; 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