Corporate climate commitments and transition plans

Current status of implementation and existing gaps

Corporate climate commitments and transition plans of both truck manufactures and businesses that procure them are important to signal demand generation; they also feed into regulatory discussions, infrastructure development, and the understanding of broader supply chain implications.

Examples and initiatives

Around 4 000 companies globally have committed to science-based targets, with several actively seeking zero-emission trucks backed by a willingness to pay a premium for them (MCFM, 2022).

Current status of implementation and existing gaps

Many signatories of the Getting to Zero Coalition have signed commitments to decarbonise shipping, including shipowners, operators, managers, charters and ports (Global Maritime Forum et al., 2021).

Examples and initiatives

Several large players, such as Maersk, Hapag-Lloyd and Cosco Shipping, have committed to either net-zero or neutrality targets in light of the IMO’s target of net-zero for international shipping by 2050.

Current status of implementation and existing gaps

The Air Transport Action Group has committed to reach net zero by 2050. Several of its signatories have signed commitments to decarbonise aviation, including major aviation industry associations and aircraft and engine manufacturers (ATAG, 2023).

Examples and initiatives

In October 2021, members of the International Air Transport Association passed a resolution to achieve net-zero emissions by 2050. IATA represents over 340 airlines worldwide, accounting for 80% of global airline traffic. Two-thirds of the emission reductions are committed to come from the use of SAF, 20% from carbon capture or offsetting, 13% from new technologies, and 3% from infrastructure improvements (IATA, 2021).

Current status of implementation and existing gaps

In last few years, there has been some progress in the steel industry’s commitment to emission reduction targets. Currently, less than half of the 50 largest steel-producing companies worldwide have set targets to reach net-zero emissions by mid-century. Yet most lack concrete intermediate milestones to achieve their targets. Nearly half of the top producers remain without a net-zero emission target, highlighting the need for continued focus on aligning the sector with the global decarbonisation effort (LeadIT, 2024b).

Examples and initiatives

The launch of the Science Based Targets initiative’s steel sector guidance in 2023 enables companies to set transparent and ambitious climate goals; early adopters include SSAB and Thyssenkrupp.

Current status of implementation and existing gaps

The private sector has also begun efforts towards establishing decarbonisation targets. Over 70% of the top 100 chemical producers globally have set the target of achieving carbon neutrality by 2050, and some have also established interim targets (Michel et al., 2023).

Examples and initiatives

A few examples of private sector action include BASF’s plans to reduce Scope 1 and 2 emissions by 25% by 2025, compared with 2018; Dow Chemical’s aim for a 15% reduction by 2030, or a 30% reduction compared with 2005; and LyondellBasell Industries’ 42% reduction target by 2030, compared with 2020. All three companies aim for carbon neutrality by 2050 in terms of Scope 1 and 2 emissions (Michel et al., 2023).

Current status of implementation and existing gaps

Although many major cement companies have set net-zero by 2050 targets, detailing milestones for emission reduction, few have clear and enforceable interim targets beyond basic emission intensity reduction goals. These transition plans also often lack specifics on investment timelines and technology deployments. The industry’s transition remains fragmented as many smaller and regional cement producers have not yet set science-based targets (IEA, 2025c).

Examples and initiatives

Climate Action 100+ is an investor-led initiative that aims to ensure the world’s large emitting corporations incorporate climate change impacts in their strategies and decision-making and set clear objectives and targets.

The Carbon Disclosure Project, with its presence in many G20 countries, supports companies, regions and other stakeholders in disclosing their environmental impact via environmental reporting and risk management.

The Science Based Targets initiative’s cement sector guidance launched in 2023, enables companies to set transparent and ambitious climate goals, which includes companies like Cemex, Holcim, Heidelberg Materials and Ultratech Cement (SBTi, 2025).