🌱🏆Climate Champions Circle🏆🌱

CDP Climate score A for the past 3 years

Best Buy Cisco Systems Equinix Ford Motor Company Moody's Corporation Philip Morris International Trane Technologies	BT Group Coca-Cola Europacific Partners J SAINSBURY PLC National Grid plc Vodafone Group Weir Group	Beiersdorf Capgemini Danone Deutsche Telekom Kering L'Oréal LVMH Symrise Unibail-Rodamco-Westfield

Best Upgrades

The following companies reported to CDP for the first time in 2024:
LKQ Corporation Cencora Kellanova

Worst Downgrades

	Company	2023	2024
	Target Corp.	A-	D
	Western Digital	B	D
	Imperial Brands	A	C
	The Walt Disney Company	B	D
	Comcast	B	D
	Accor	A	C
	Howmet Aerospace	B	D
	Franklin Templeton	B	D
	Chubb Limited	B	D
	Broadridge Financial Solutions	B	D
	3i	B	D
	American Tower	B	D

The following companies stopped publicly reporting to CDP in 2024:
NRG Energy Nextera Energy Inc. Sartorius Enphase News Corp Lennox International Meta Platforms, Inc Kinder Morgan Inc. BlackRock Inc. Allianz Truist Verizon Communications Starbucks Corp. Goldman Sachs Group Microsoft Corp. EOG Resources Tractor Supply International Airlines Group Match Group CMS Energy Siemens Healthineers General Electric Illinois Tool Works Citizens Financial Group Incyte Deutsche Bank Tyson Foods Cigna Analog Devices Weyerhaeuser KeyCorp Amazon.com Inc. Southern Company US Bancorp Deutsche Post Colgate-Palmolive State Street Corporation DTE Energy Consolidated Edison JPMorgan Chase & Co. Fifth Third Bank Conagra Brands NiSource Raymond James Standard Chartered M&T Bank Hilton Worldwide Huntington Bancshares Carnival Exelon ConocoPhillips Ametek Federal Realty Unite Group Dominion Energy Entergy Motorola Solutions Capital One Financial Ameren Campbell Soup Company A. O. Smith Blackstone F5, Inc. WEC Energy Group Alliant Energy Shell plc Arthur J. Gallagher & Co. Games Workshop Group AT&T Inc. Raytheon Technologies MasterCard Inc. Regions Financial Corporation Devon Energy Corp. FirstEnergy The Bank of New York Mellon Apple Inc. Roper Technologies PPL Corporation Evergy Boeing eBay Inc. Cboe Global Markets Morgan Stanley Baker Hughes Northern Trust MetLife Inc. Sempra Energy Intercontinental Exchange Procter & Gamble Duke Energy Citigroup Inc. Pinnacle West PNC Financial Services American Electric Power Co. Inc. Bank of America McDonald's Corp. Wells Fargo Munich Re TotalEnergies

SBTi

% companies that committed or set science-based targets as validated by SBTi.

Top 10 Revenue without Net Zero Target

	Company	Revenue (USD)	Ranking
	Berkshire Hathaway Inc.	276.1 billion	#98
	AbbVie Inc.	56.2 billion	#52
	Caterpillar Inc.	51.0 billion	#89
	Abbott Laboratories	43.1 billion	#57
	Capital One Financial	32.0 billion	#34
	Broadcom	27.5 billion	#97
	Altria Group Inc	21.1 billion	#12
	Charles Schwab Corp	19.0 billion	#96
	Advanced Micro Devices	16.4 billion	#33
	American Tower	9.4 billion	#65

Current Methodology:

• For each S&P 100 company, a GHG emission trajectory from 2019 to 2050 is calculated
• Historical GHG emissions (usually 2019-2021) are either based on self-reported data or an estimate when GHG reporting is either incomplete or absent.
• Future GHG emissions are calculated based on reduction targets that are publicly committed
• Two types of targets are considered: gross absolute emissions reduction and net zero targets.
• Net Zero targets are converted in gross emission reduction assuming a 90% decrease vs. 2020 (See Net Zero Standard by SBTi)
• Targets including incomplete scope 3 categories are excluded.

ESG Ratings

In the analysis below, we'll use MSCI ESG ratings

• LAGGARD (CCC/B): A company lagging its industry based on its high exposure and failure to manage significant ESG risks
• AVERAGE (BB/BBB/A) A company with a mixed or unexceptional track record of managing the most significant ESG risks and opportunities relative to industry peers
• LEADER (AA/AAA) A company leading its industry in managing the most significant ESG risks and opportunities

Climate Alignment Ratings

We'll use the Implied Temperature Rise (ITR) from MSCI to measure the temperarure alignment of companies with global temperature goals. It is a forward-looking metric, expressed in degrees Celsius.

• True Leaders: Companies are combining strong ESG rating and climate-aligned goals.
• Climate/ESG Leader: Companies are leaders either in ESG or climate.
• Average: Companies have average ESG and climate scores.
• Laggards: Companies are laggards in either ESG or climate scores.

Most carbon-intensive companies (all sectors)

	Company	Year	CO2e (S1+S2)	Revenue (USD)	Intensity
	Southern Company	2021	82.6 million	23.2 billion	3,557
	Duke Energy	2021	78.1 million	24.6 billion	3,172
	Nextera Energy Inc.	2021	43.0 million	21.3 billion	2,023
	ArcelorMittal	2021	138.6 million	76.6 billion	1,808
	Linde plc	2021	39.9 million	30.8 billion	1,295
	Air liquide	2022	39.3 million	31.5 billion	1,246
	Veolia	2021	30.5 million	33.7 billion	904
	Dow Inc.	2021	32.2 million	55.0 billion	586
	Union Pacific Corp	2021	9.5 million	21.8 billion	434
	Exxon Mobil	2021	117.0 million	280.5 billion	417

Most carbon-intensive companies by sector

	Company	Sector	Year	CO2e (S1+S2)	Revenue (USD)	Intensity
	Southern Company	Utilities	2021	82.6 million	23.2 billion	3,557
	ArcelorMittal	Materials	2021	138.6 million	76.6 billion	1,808
	Union Pacific Corp	Industrials	2021	9.5 million	21.8 billion	434
	Exxon Mobil	Energy	2021	117.0 million	280.5 billion	417
	American Tower	Real Estate	2021	1.1 million	9.4 billion	119
	Texas Instruments	Information Technology	2021	2.1 million	18.3 billion	113
	Michelin	Consumer Discretionary	2022	2.3 million	30.1 billion	76
	PepsiCo Inc.	Consumer Staples	2021	4.3 million	79.5 billion	53
	AT&T Inc.	Communication Services	2021	5.5 million	134.0 billion	41
	EssilorLuxottica	Health Care	2021	772,593	23.5 billion	32
	US Bancorp	Financials	2021	138,873	21.8 billion	6