Despite mixed signals in public discourse, a new PwC report reveals that most companies are staying the course—or even accelerating—on their decarbonisation targets. According to The 2025 State of Decarbonization, based on data from CDP and other sources, 84% of public companies either maintained or increased their environmental commitments in 2024.
Close-up of tree seedlings with office workers and modern buildings in the background. AI generated picture.
Drawing from disclosures by over 4,000 companies and supplemented by data from the Science-Based Targets initiative, S&P Capital IQ, and more, PwC’s analysis leveraged generative AI to parse over one million data points. The result? A comprehensive view of how decarbonisation is progressing across sectors and company sizes.
Contrary to perceptions that sustainability strategies are being scaled back, the report shows that 37% of companies increased their emissions targets this year, while only 16% reduced theirs. Even among those pulling back, over half were adjusting overly ambitious goals made without concrete implementation plans.
One of the standout trends is the growing sustainability ambition among smaller companies. While the number of firms setting Scope 1 and 2 targets has continued to grow—up 14% year-on-year—the average revenue of these firms has dropped significantly, from $3.8 billion in 2020 to $1.3 billion in 2024. PwC attributes this to increasing sustainable engagement down the value chain.
This shift coincides with a broader push to tackle Scope 3 emissions, which remain the most complex to manage. In 2024, over 3,600 companies disclosed Scope 3 data—an 80% increase over the previous year. Supplier and customer engagement also rose sharply, with 72% and 67% of companies, respectively, reporting active efforts in these areas.
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Still, while 67% of firms are on track to meet their Scope 1 and 2 goals, just 54% are progressing as planned on Scope 3. Progress appears fastest in Scope 2, where companies reported a collective 12% reduction, largely thanks to a shift toward renewable energy. ‘Low-carbon electricity remains central to emissions cuts’, the report notes, highlighting that renewables accounted for over 40% of last year’s Scope 1 and 2 reductions.
Looking ahead, companies expect environmental-related spending to rise, with projections of an 18% increase in capital expenditure and a 21% rise in operational spending toward mitigation and adaptation by 2030. The upside? Around 60% of companies already offer low-carbon products, and PwC suggests these could boost value by 6% to 25%, especially when paired with cost savings from leaner, cleaner supply chains.
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As PwC’s findings show, companies are not only holding the line on green action—they’re doubling down. With smaller firms stepping up and Scope 3 engagement accelerating, demand for high-quality, verifiable carbon credits is set to rise sharply. Investing in carbon credits through DGB Group is more than just a financial move—it’s a commitment to a sustainable, profitable, and purpose-driven future. Our nature-based projects generate premium carbon units that help businesses stay on track with their net-zero strategies while driving real impact. Now is the time to act—position yourself at the forefront of the carbon economy and learn how you can take part.
