Many large global companies have now set a target for getting to net-zero greenhouse gas emissions. But with most of those deadlines decades away, it can be difficult to tell if they’re on track now.  Companies have varying standards of setting short-term climate goals and differing ways of assessing whether they’ve achieved them. In a recent analysis, Bloomberg Green took stock of the five-year sustainability goals some of the biggest U.S. companies had set in 2015. The results showed that 138 out of 187 pledges had been met, partly because they were modest to start with.

Net-zero emissions goals are much more ambitious than promising to plant more trees or boosting energy efficiency. It’s likely the companies setting them have to make more drastic changes. A new report by the Science-Based Targets initiative (SBTi), a non-profit that helps companies translate the Paris Agreement’s aim of keeping global warming under 1.5°C into concrete measures, finds that bears out in reality.

The avoided emissions add up to 302 million metric tons of carbon dioxide equivalent, or what Poland emits annually. “Companies setting science-based targets are backing these commitments up with action,” said Alexander Farsan, global lead on science-based targets at WWF, one of the SBTi partners.

Effective Goals

Companies that set science-based climate targets cut emissions fast

Source: Science-Based Targets initiative

Note: Analysis only includes Scope 1 and 2 emissions

Enel SpA, the Italian utility, cut its direct emissions intensity by 28% between 2017 and 2019. The increased pace allowed it to boost its 2030 target reduction to 80% from 70%. That, in turn, affects the company’s bottom line, with investors increasingly taking carbon calculations into their decisions. “Working with Science-Based Targets initiative increases investor confidence,” said Giulia Genuardi, head of sustainability at Enel.

Not all companies with SBTi targets have succeeded in that period. Pernod Ricard SA and Givaudan SA have seen their emissions rise where they had pledged to reduce them.