BOSTON—From the outside, it may seem like corporate climate action is stalling. Only 7% of companies fully report greenhouse gas emissions across Scopes 1, 2, and 3—down from 9% in 2024 and 10% in 2023. Similarly, the number of companies setting targets to reduce emissions across all scopes decreased three percentage points year-over-year, following a high of 19% in 2023. Measurement of climate-related risk is also limited, with only 12% of firms assessing all types of physical and transition risks.

These are among the findings from the fifth annual climate survey report How Companies Are Tackling the Climate Challenge—and Creating Value by Boston Consulting Group (BCG) and CO2 AI being released today. The report draws on responses from 1,924 executives responsible for their company’s emissions measurement, reporting, and reduction initiatives. These companies come from 16 major industries and 26 countries and are collectively responsible for 40% of global GHG emissions. 

Companies are still gaining momentum, however. Over the next five years, companies plan to increase their investments in mitigation, adaptation, and resilience by dedicating an additional 16% of their capital expenditure budget to sustainability, which amounts to an increase of $69 million per company. This helps mitigate climate risk for these companies, for example weather-proofing assets, while also enabling avenues for green growth, for instance sustainable product lines.

“Around seventy percent of companies are maintaining, if not increasing overall their investments in sustainability. This is encouraging as it shows that climate action hasn’t stalled, and momentum continues steadily around the world,” said Hubertus Meinecke, the global leader for Climate & Sustainability at BCG and coauthor of the report.

Climate Returns Are Materializing and Driving Action

According to the report, 82% of the companies surveyed say they have captured economic benefits from decarbonization, with 6% reporting a value that exceeds 10% of annual revenue; that is, a net value (after accounting for costs) of $221 million per company. These benefits are largely driven by revenue growth from sustainable products and operational savings from efficiency gains and resource optimization.

Climate risk is being taken more seriously, and companies are also anticipating the financial upside of climate adaptation and resilience. Among firms that assess both physical risks such as storms and rising seas, and transition risks including policy and market shifts, the average projected financial exposure by 2030 is $790 million. Nearly half of the companies report that their climate risk adaptation efforts generate a return on investment of more than 10%—demonstrating that proactive preparation delivers real and measurable value.

“What matters most is that investment and action are accelerating, and our survey shows that companies are investing in climate action where there is a business case around strategic risk management and compelling financial returns,” said Diana Dimitrova, a managing director and partner at BCG X and coauthor of the report.

Advanced Tools for Turning Climate Goals into Action

As companies scale up their climate investments and goals, they are also strengthening how they finance and operationalize climate action and increasing their use of advanced governance mechanisms. The survey found that one-third of companies have implemented internal carbon prices and adoption of climate transition plans has risen five percentage points year-over-year, with 61% of plans now approved at the board level. These tools represent an important shift as companies are transitioning from broad aspirations to more operationalized climate strategies.

What Sets Leaders Apart

By making sustainability central to strategy, a small group of companies is realizing financial benefits worth roughly 10% of their revenue. The report identifies four common enablers among companies that are generating the most financial value from climate action:

“The companies that are really getting value from sustainability are the ones leaning into AI and advanced digital tools," said Charlotte Degot, CO2 AI’s CEO and coauthor of the report. "They’re using them over 10% more than their peers, especially to drive decarbonization. And when companies layer multiple advanced solutions, they’re more than twice as likely to achieve real, significant benefits.”

Download the publication here.

Media Contacts:
Eric Gregoire – Gregoire.Eric@bcg.com ; +1 617 850 3783
Sumedha Bose - Sumedha.Bose@co2ai.com ; +33 744 717 563

About CO2 AI

CO2 AI partners with global leaders to accelerate the transition to Net Zero. Incubated by Boston Consulting Group, the company operates at the intersection of climate action and artificial intelligence. Its SaaS platform enables organizations to measure greenhouse gas emissions across complex value chains, identify reduction levers, and orchestrate enterprise-wide decarbonization at scale.

By combining advanced AI models with rigorous climate data and regulatory standards, CO2 AI empowers businesses to drive transparent, auditable progress toward a low-carbon economy. Uniting internal teams and suppliers, the platform helps companies tackle Scope 3 emissions and deliver measurable impact across their full value chains. CO2 AI’s ambition is to be the partner of reference for global enterprises, helping them build resilience, comply with evolving regulations, and create lasting environmental impact for society.

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