SBTi Trend Tracker 2025
Drawing on our latest data (Jan. 2024 - Jun. 2025), the SBTi Trend Tracker monitors the adoption of science-based targets and commitments across regions and sectors - offering up-to-date insight into how businesses worldwide are aligning with climate science and accelerating the net-zero transition.
Explore the report
Trend Tracker Methodology
Charts were produced using internal analysis of SBTi data (derived from the Target Dashboard), except for Chart 6 which was produced by Oliver Wyman, based on analysis of S&P Capital IQ and SBTi data. The 2025 data was extracted on June 27, 2025, reflecting the end of Q2. Where noted, “companies” includes Corporates, Small and Medium Sized Enterprises (SMEs), and Financial Institutions; “corporates” excludes SMEs and Financial Institutions.
Charts 1-2: Total companies with targets or commitments by year, total corporates with targets by year
Cumulative data is split into three categories, defined as follows:
- Commitments: The company has an active near-term and/or net-zero commitment, but has not set a target for either.
- Near-term target set only: The company has a validated near-term target and could have a net-zero commitment, but no net-zero target.
- Net-zero and near-term targets set: The company has both validated near-term and net-zero targets.
Charts 3-4: Targets by region and territory
- Display percentage growth in cumulative total companies with at least one validated target between end-2023 and end-Q2 2025.
- Regional and territorial classifications follow those in the Target Dashboard.
Chart 5: Targets by sector
- Categorization follows S&P Global’s Global Industry Classification Sector (GICS) classifications, except the Energy and Utilities sectors were combined into one. The exact sector definitions can be found here.
- The sectors listed in the target dashboard were mapped one-to-one on GICS sectors. Data is broken down by ‘first target year’, defined as the first year in which the company had a validated target published.
Chart 6: Penetration by global market capitalization and revenue
- SMEs are excluded from this analysis.
- Thank you to Oliver Wyman for conducting this analysis and permitting its use.
Disclaimer
The information contained in this document is provided by the Science Based Targets initiative (SBTi) for general informational purposes only. Although reasonable care has been taken in the preparation of this document, SBTi affirms that the document is provided without guarantee, warranty, or representation, either express or implied, as to accuracy, completeness or fitness for purpose.
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“Science Based Targets initiative” and “SBTi” refer to the Science Based Targets initiative, a private company registered in England number 14960097 and registered as a UK Charity number 1205768.
© SBTi 2025