Transition Finance Tracker
More than one-fifth (22%) of listed companies have set a climate target validated by the Science Based Targets initiative, as of Sept. 30, 2025, up seven percentage points from a year earlier. Companies with climate targets have demonstrated a track record of holding down emissions, versus those without.
Source: MSCI ESG Research, data as of Sept. 30, 2025. Note that totals are cumulative. The share of corporate climate targets reported here reflects the relevant share of all companies in the MSCI ACWI IMI. Previous editions of this report show targets for roughly 95% of index constituents, hence the different shares of climate targets reported here.
Share of listed companies with climate targets for 2025 and beyond by target type