Key Takeaways
- • Climate Action 100+ discontinued a climate disclosures indicator in its benchmark update, signaling a shift in how the investor coalition measures corporate climate accountability among 169 focus companies.
- • The fifth round of CA100+ Net Zero Company Benchmark assessments, released in October 2025, maintained framework consistency with version 2.1 while implementing targeted changes based on company and investor feedback from the 2024 assessment cycle.
- • Version 2.2 of the benchmark framework retained core evaluation metrics across net zero ambition, target setting, decarbonization strategy, capital allocation, climate governance, and just transition, with only minor technical updates to Scope 3 applicability rules.
- • 164 of 169 CA100+ focus companies were assessed in 2025, covering sectors including oil & gas, utilities, steel, cement, autos, and mining across North America, Europe, Asia, and Australasia.
- • The indicator discontinuation reflects evolving investor priorities and corporate best practices, with changes implemented in response to direct feedback from both companies and signatory investors to the [email protected] submission process.
Summary
Climate Action 100+, a global investor initiative focused on engaging the world's largest corporate greenhouse gas emitters, has discontinued a climate disclosures indicator as part of its benchmark update, according to reporting from Responsible Investor. The move represents a refinement of how the coalition measures corporate climate accountability and transparency among its portfolio of focus companies.
The fifth round of CA100+ Net Zero Company Benchmark assessments was released in October 2025, with the updated Version 2.2 framework maintaining consistency with its Version 2.1 predecessor to ensure continuity and year-over-year comparability. This strategic continuity reflects CA100+'s effort to balance framework refinement with the need for comparable data across assessment cycles. The version 2.2 updates were implemented in response to direct feedback from both companies and investor signatories provided through the benchmark submission process, according to CA100+'s official documentation.
The benchmark framework evaluates companies across ten primary assessment areas: net zero greenhouse gas emissions ambition by 2050 or sooner, long-term and medium-term GHG reduction targets, short-term targets, decarbonization strategy, capital allocation, climate policy engagement, climate governance, just transition, climate-related disclosures, and historical emissions reductions. The framework also includes climate accounting and audit assessments conducted by Carbon Tracker Initiative and Rocky Mountain Institute. In the 2025 assessment cycle, 164 of CA100+'s 169 designated focus companies were evaluated against these metrics.
The discontinuation of the climate disclosures indicator reflects evolving investor expectations and a recalibration of CA100+'s measurement priorities. While the specific rationale for removing this indicator was not detailed in available sources, the decision aligns with CA100+'s stated commitment to respond to stakeholder feedback and shifts in corporate best practice on climate change. The coalition previously noted in March 2023 that the benchmark was updated to reflect such shifts, indicating a pattern of adaptive measurement rather than static evaluation criteria.
The CA100+ initiative, which operates with independent signatories acting as fiduciaries responsible for their own investment and voting decisions, continues to focus on companies critical to the global net zero transition across capital-intensive sectors including energy, utilities, transportation, industrials, materials, and food production. The benchmark update signals ongoing refinement in how institutional investors measure climate progress among systemically important emitters.
The fifth round of CA100+ Net Zero Company Benchmark assessments was released in October 2025, with the updated Version 2.2 framework maintaining consistency with its Version 2.1 predecessor to ensure continuity and year-over-year comparability. This strategic continuity reflects CA100+'s effort to balance framework refinement with the need for comparable data across assessment cycles. The version 2.2 updates were implemented in response to direct feedback from both companies and investor signatories provided through the benchmark submission process, according to CA100+'s official documentation.
The benchmark framework evaluates companies across ten primary assessment areas: net zero greenhouse gas emissions ambition by 2050 or sooner, long-term and medium-term GHG reduction targets, short-term targets, decarbonization strategy, capital allocation, climate policy engagement, climate governance, just transition, climate-related disclosures, and historical emissions reductions. The framework also includes climate accounting and audit assessments conducted by Carbon Tracker Initiative and Rocky Mountain Institute. In the 2025 assessment cycle, 164 of CA100+'s 169 designated focus companies were evaluated against these metrics.
The discontinuation of the climate disclosures indicator reflects evolving investor expectations and a recalibration of CA100+'s measurement priorities. While the specific rationale for removing this indicator was not detailed in available sources, the decision aligns with CA100+'s stated commitment to respond to stakeholder feedback and shifts in corporate best practice on climate change. The coalition previously noted in March 2023 that the benchmark was updated to reflect such shifts, indicating a pattern of adaptive measurement rather than static evaluation criteria.
The CA100+ initiative, which operates with independent signatories acting as fiduciaries responsible for their own investment and voting decisions, continues to focus on companies critical to the global net zero transition across capital-intensive sectors including energy, utilities, transportation, industrials, materials, and food production. The benchmark update signals ongoing refinement in how institutional investors measure climate progress among systemically important emitters.
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