Worldwide, more than 4,000 companies have set targets to cut down or offset their carbon emissions in an effort to fight climate change, according to the global Science Based Targets Initiative. But only 100 companies made the inaugural “Net Zero Leaders” list released Wednesday by Forbes—and four of them are headquartered in North Texas.
“While the goal of net zero remains decades from becoming a reality, Forbes wanted to identify which companies are leading the way not just in transitioning to a low-carbon economy by 2050 but are also adjusting their business model to achieve sustainability targets,” the magazine states.
To create its Net Zero Leaders list, Forbes used data from research providers Sustainalytics and Morningstar, ranking the U.S. companies best positioned for a net-zero 2050. Companies were considered in the context of their industry and location of business operations, “because the challenges for airlines or oil and gas producers are vastly different than for banks or hotel chains,” Forbes said.
The North Texas companies named as Net Zero Leaders
Here are the four North Texas companies named to Forbes’ Net Zero Leaders list, in order of their ranking. All four are based in Dallas:
AT&T :: No. 12
The highest-ranking North Texas Net Zero Leader, AT&T was ranked No. 12 on the list. In 2020, the company committed to reaching carbon neutrality by 2035 across its entire global operations. In 2021, AT&T set interim targets that were approved by the Science-Based Targets initiative.
AT&T aims to cut its Scopes 1 and 2 emissions (tied to its operations and the fuel it buys) through improved energy efficiencies and to replace fossil fuel usage with renewable energies. It said it plans to reduce greenhouse gases by 63% by 2030 from a 2015 baseline.
“We are scaling our efforts by also implementing emissions-reducing solutions for customers and communities and have a goal to deliver connectivity solutions that enable business customers to reduce a gigaton (1 billion metric tons) of GHG emissions between 2018 and 2035,” the company said in an April 2023 sustainability report.
“To strengthen the resilience of our communities and company against the impacts of climate change, we are also assessing and managing our climate-related risks and empowering others to do the same,” AT&T added.
Texas Instruments :: No. 13
Texas Instruments is targeting a 25% reduction in its greenhouse gas emissions by 2025, from a 2015 base year.
TI set a five-year goal in 2015 to reduce absolute Scope 1 and 2 GHG emissions by 15% by the end of 2020—and surpassed that goal ahead of time. “By year-end 2019, absolute emissions were down 15.6% due to improved efficiency and our commitment to investing in projects that reduce emissions,” the company said in a 2020 report.
In a December 31, 2021 disclosure, TI said that its semiconductor products”help our customers create electronics that are more efficient and consume less power, supporting our customers’ sustainability initiatives and consumers’ growing demand for energy-efficient products.”
“We continue to make R&D investments to advance semiconductor technologies to further improve efficiency and reduce power consumption,” the company added. “TI is continually reviewing new technology to reduce our overall GHG emissions and enable a more efficient manufacturing process.”
Texas Instruments has an online Net 0 Tracker that enables you track its greenhouse gas emissions and target progress.
Comerica :: No. 20
Comerica was among one of the first U.S. regional banks in 2018 to pledge to become operationally net zero, with respect to Scope 1 and 2 emissions. The Dallas-headquartered bank has set a goal of reducing its greenhouse gas emissions 50% by 2025, 65% by 2030, and 100% by 2050.
“Comerica has a strong history of sustainability leadership and was among the first regional banks in the U.S. to establish a sustainability office,” Chairman, President, and CEO Curtis C. Farmer said in a 2022 Comerica Taskforce on Climate-related Financial Disclosures report. “Our demonstrated performance includes our long-term, third-party verified greenhouse gas emissions disclosures, early achievement of three different GHG reduction goals, early membership in the Partnership for Carbon Accounting Financials, and a series of awards and recognition.”
“Comerica has a long history of working to reduce our energy consumption, which is the primary source of our Scope 1 and 2 GHG emissions,” the company said in the 2022 report. “We achieved our first generation GHG reduction goal in 2013 and have continued to make significant progress in reducing our GHG footprint. Our currently active goals use a 2012 baseline, as that represents the year in which our current real estate footprint was established after our acquisition of Sterling Bancshares.”
CBRE Group :: No. 65
Dallas-based CBRE Group is the highest-ranked commercial real estate services company on the Forbes Net Zero Leaders list.
“We’re proud to help point the way to Net Zero in the commercial real estate sector,” Rob Bernard, CBRE’s chief sustainability officer, said in a statement. “CBRE is driving measurable progress in lowering energy consumption in our own operations as well as the more than 7 billion square feet we manage for our clients globally. We also see significant opportunities to reduce the environmental impact of our supply chain and help to build out EV charging infrastructure.”
CBRE has set the following targets to help achieve its net zero goal:
- 68% reduction in absolute emissions for corporate operations by 2035
- 79% per square foot reduction for buildings managed for occupier clients by 2035
- 67% per square foot reduction for buildings managed for landlord and building owner clients by 2035
- 100% renewable energy for corporate operations by the end of 2025
- 100% vehicle fleet electrification by the end of 2035
These and other CBRE commitments are highlighted in CBRE’s Corporate Responsibility Report, published in late May.
Moody’s topped the Net Zero Leaders list at No. 1
So who made the list of Top 10 Net Zero leaders?
In order from 1 to 10, the leading companies are Moody’s, MSCI, Northrop Grumman, Bank of America, S&P Global, CSX, Philip Morris International, Raytheon Technologies, Proctor & Gamble, and Eli Lilly.
You can see Forbes’ full Net Zero Leaders list by going here.
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