麦肯锡 -企业对自然相关承诺的覆盖范围有所扩大但进展参差不齐 Corporate nature commitments have expanded,but progress is uneven

January2026

Corporatenature

commitmentshave

expanded,butprogressisuneven

Despitemacroeconomicshifts,corporatetargetsfornaturehavecontinuedtogrowbeyondcarbon—butpreservingmomentumwillrequiregreater

consistencyandfollow-through.

ThisarticleisacollaborativeeffortbyAnneKronschnablandJoshuaKatz,withJessicaHanna,

StephanieKrakower,StephanieStefanski,andValentineReiss-Woolever,representingviewsfromMcKinsey’sSustainabilityPractice.

Morecompaniesaroundtheworldarerecognizingtheimportanceofprotectingnature,

butprogressisuneven.Ontheonehand,companiesarebecomingmoreawareoftheirimpactonnaturebeyondjusttheircarbonfootprints.Infact,anincreasingnumberofFortuneGlobal500companieshavemadecommitmentstoallnaturedimensionsbeyondcarboneveryyear

since2022.

1

Ontheotherhand,shiftingmacroeconomicandpoliticalfactorshaveledsomeregionsand

sectorstoslidebackward.Forexample,ourresearchfindsthatsomeregions,suchasNorth

AmericaandEurope,sawdecliningnumbersofcommitments,whileotherregions,suchasAsiaandLatinAmerica,haveheldsteadyorevenimproved.

Tounderstandhowcorporatetargetsfornaturearechanging,McKinseyhasanalyzed

sustainabilityreportinginFortuneGlobal500companiessince2022(seesidebar,“Our

methodology”).Thestakesofthesecommitmentsarehigh.Todate,sevenoutofnineplanetaryboundaries

2

havebeencrossed,mostrecentlyoceanacidification:Sincethestartofthe

industrialera,thepHoftheocean’ssurfacehasdecreasedbyapproximately0.1units,

increasingacidityby30to40percent.

3

Thisisjustoneexampleoftheplanetarychangesaffectingnaturalcapital.

Ourmethodology

Thisisthefourthiterationofouroriginal2022analysis.Weselectedsixnaturedimensionsthat

multipleestablishedframeworks,includingtheplanetaryboundaries,theScienceBasedTargets

Network,andtheTaskforceonNature-relatedFinancialDisclosures,havehighlightedascriticalforthehealthofthenaturalworld.

Weretainedour2024methodologyin2025,andwecontinuedourpracticeofrestrictingoursearchtoeachcompany’ssustainabilityreportandwebsite.Forthisanalysis,weused2024sustainability

andannualreportstogainacompleteviewofavailabledatafromcompanysustainabilityreports,as2025reportsarenotalwayspublishedbeforetheendoftheyear.

Wesortedcommitmentsbydimension:

—Carbonreferstogreenhousegasemissions(CO2orCO2equivalent).

—Waterreferstowaterconsumptionandusage.

—Chemicalsandplasticsreferstoconsumptionandwasteofthesematerials.

—Biodiversityreferstohabitatandspeciesprotection.

—Forestreferstodeforestation.

1Formore,see

“Corporatecommitmentstonaturehaveevolvedsince2022

,”McKinsey,December10,2024.

2Planetaryboundariesrelatetothresholdsformaintainingstable,resilientnaturalsystemsonEarth.IdentifiedbytheStockholmResilienceCentre,theseboundariesincludeclimatechange(measuredbyCO2concentrationandradioactiveforcing),novel

entities(measuredbyvolumesofsyntheticchemicalsreleasedintotheenvironmentwithoutsafetytesting),stratosphericozonedepletion,atmosphericaerosolloading,oceanacidification,modificationofbiogeochemicalflows(specificallyphosphorusandnitrogen),freshwaterchange(includingfreshwaterand“green”wateruse),landsystemchange,andbiosphereintegrity(both

geneticandfunctional).

3“Planetaryboundaries,”StockholmResilienceCentre,updated2025.

Corporatenaturecommitmentshaveexpanded,butprogressisuneven2

Corporatenaturecommitmentshaveexpanded,butprogressisuneven3

Ourmethodology(continued)

—Nutrientsandnitrogenoxides(NOx)referstomajorairandnutrientpollutantsaffectinghumanorecosystemhealth—forexample,nitrogenoxides,sulfuroxides,andphosphorus.

Continuingourpracticefromlastyear,weusedabroadsetofsearchtermsforeachdimensionto

matchthelatestguidanceandscientificliteratureondimensionsofnature.Searchtermsincludedthelabelsusedinthisarticle’schartsaswellasclosesynonyms.(Forexample,theforestdimension

includedpaperreductiontargetsandtheterm“deforestation.”)Toidentifycommitments,ourteamsearchedeachcompany’smostrecentlypublishedsustainabilityreportfortermsrelatedtoeach

dimension.Ifadimensionwasnotmentionedinthesustainabilityreport,weconductedanadditionalsearchforthatdimensiononthecompany’swebsite.

Foreachcompany,weassignedaratingof“target,”“acknowledgment,”or“none”basedonthedescriptionsbelow.

—Target.Thecompanyhasaquantified,time-bound,andoutcome-orientedtarget,goal,or

commitmentthatappliestotheentireorganization.(Thequalityandmaterialityofthetargetswereoutsidethescopeofthisreview.)

—Acknowledgment.Thecompanymentionstherelevantdimensionofnaturebutdoesnothavea

targetasdefinedabove.Companiesinthiscategoryincludethosethathaveinitiativesaddressingthedimension,targetsforthedimensionwithinonepartofthecompany,ortargetsthatare

neithertimeboundnorquantifiable.

—None.Thecompanydoesnotmeaningfullymentionthedimensionatthecorporatelevel.

Consistentwithpreviousyears,companiesthatlackedanaccessiblesustainabilityreportanddidnotmentionsustainability-relatedactionsontheirwebsiteswererated“none”acrossall

dimensions.

Weorganizedcompaniesintosixbroadcategories:

1.Manufacturingincludessubsectorssuchasautomotivemanufacturing,biopharmaandhealthcaretechnology,aerospaceanddefensemanufacturing,chemicalmanufacturing,foodandbeveragemanufacturing,andelectronics.

2.Retailsalesandservicesincludessubsectorssuchasfinancialservices,softwareandtechnology,consumergoods,andhealthcare.

3.Travelandtradeincludessubsectorssuchasaviation,transportationande-commerce,andgeneraltradingandlogistics.

4.Powerincludessubsectorssuchaselectricalandnaturalgasutilities.

5.Agricultureandextractivesincludesland-basedmaterialssubsectorssuchasforestry,farmingandfoodproduction,oilandgas,andminingandmetals.

6.Constructionandbuildingsincludessubsectorssuchasconstructionservices,buildingmaterials,andconstructionmachinery.

Thisanalysisshouldbeconsidereddirectionalonly,becausecompaniesadheredtoverydifferentreportingstandards,requiringjudgmentonourparttocategorizethefindings.Thesearch

methodologycouldalsohaveresultedinmissedtargetsoracknowledgments.

Corporatenaturecommitmentshaveexpanded,butprogressisuneven4

Inthisarticle,weexplorefindingsfromourlatestanalysis,includingvariationsacrossregions

andsectors.Wealsoexploredifferencesinthetypesofcommitmentsmade,includingthe

naturedimensionsaddressed(carbon,water,chemicalsandplastics,biodiversity,forest,and

nutrientsandnitrogenoxides)andthedegreeofcommitmentmade(quantifiabletarget,generalacknowledgment,ornone).

Acknowledgmentsandtargetsettingincreasedoverall

FortuneGlobal500companiesareincreasinglyacknowledgingtheirenvironmentalimpactandsettingquantifiabletargets.AgreaterproportionofFortuneGlobal500companieshadtargetsacrossthreeormorenaturedimensionsinthe2025analysis,uptwopercentagepointsfromthepreviousyear(Exhibit1).ThisincreaseisnotablegiventhatturnoverintheFortuneGlobal500

listhasbeenminimal,withonlysixnewcompaniesincluded.Thismeanscompaniesthatpreviouslyhadtargetsareexpandingthebreadthoftheirnature-basedcommitments.

Thescopeofnaturestrategiesislikewiseexpanding.Fiveofthesixnaturedimensionswe

measuredsawanincreaseincommitments(targetsandacknowledgmentscombined)comparedwithlastyear’sanalysis,indicatingagrowingawarenessofenvironmentalimpactsinadditiontocarbonemissions(Exhibit2).Foralldimensionsbutcarbon,corporatecommitmentsasawhole,includingbothtargetsandacknowledgments,havebeenincreasingfasterthantargetsalone.

Thisreflectsthehigherbarrequiredfortargetsetting—committingtoaquantifiedtarget

requiresanadditionallayerofdatatrackingtomeasureprogress.Fortheforest,water,and

nutrientsdimensions,targetsalonehavegrownbylessthanfivepercentagepointssince2022,whilecommitmentshavegrownmorethanfivetimesfaster.

Targetsforchemicalsandplasticshavegrownthemostsince2022(abouttenpercentage

points),whilebiodiversityisclosebehindwithanincreaseofabouteightpercentagepoints.Thisincreasingemphasisonchemicalsandplasticsmaybemotivatedbyconsumerperceptions:

McKinseyresearchshowsthattheenvironmentalimpactofpackaginghasbeenanincreasinglyimportantconcernforconsumerssince2023.4

4“

DoUScustomerscareaboutsustainablepackaging?

,”McKinsey,June4,2025.

Exhibit1

Corporatenaturecommitmentshaveexpanded,butprogressisuneven5

Thenumberofcompaniesfocusingonthreeormoredimensionsofnatureisrising.

FortuneGlobal500companiesbynumberofnaturedimensionswithtargetsy%

Note:Figuresmaynotsumto100%,becauseofrounding.

source:MckinseyanalysisofFortuneGlobal500companysustainabilityreportsandwebsites

Mckinsey&company

Whenconsideringacknowledgmentsandtargetstogether,themostsignificantyear-over-

yearincreasecomesfromthenutrientsandnitrogenoxides(NOx)category.5Commitmentsinthisdimensionhaveexpandedfromabout21percentin2022toabout48percent.

Agriculturecompaniestypicallyhavealreadyestablishedtargetsrelatedtonutrientsand

NOxbecauseoftheirproximitytothesechemicals,so2025’sincreaseisprimarilydrivenbynonagriculturalcompanies:Anadditional21companiesoutsidetheagriculturesector

acknowledgedorsetatargetforthisdimensioncomparedwiththe2024analysis.

5ThenutrientsandNOxcategoryincludescommitmentsrelatedtonitrogenoxides,sulfuroxides,phosphorous,andotherairandwaterpollutantstiedtoimmediatehumanandecosystemhealth(excludingcarbonandothergreenhousegases).

Exhibit2

Corporatenaturecommitmentshaveexpanded,butprogressisuneven6

companiesareexpandingtheirfocusonnature-relatedtargetsandacknowledgments.

shareofFortuneGlobal500companieswithnature-relatedtargetsoracknowledgments,2022-2025,%

Note:Figuresmaynotsumto100%,becauseofrounding.

1Thecompanyhasaquantified,time-bound,andoutcome-orientedcommitment.2Thecompanymentionsthedimensionofnaturebutdoesnothaveatargetasdefinedabove.3percentagepoints.

4Greenhousegasemissions(co2orC2equivalent).5waterconsumptionandusage.‘consumptionandwasteofthesechemicalsandplastics.7Habitatandspeciesprotection·aDeforestation.

Majorairandnutrientpollutantsimpactinghumanorecosystemhealth(eg,nitrogenoxide,sulfuroxide,phosphorus).

source:MckinseyanalysisofFortuneGlobal500companysustainabilityreportsandwebsites

Mckinsey&company

Overall,thelargestincreaseinacknowledgmentsortargetssince2022wasinforest-relatedfactors,suchasthoserelatedtoincreasedpaperrecyclingandforestpreservation.Thiscouldbearesultofforthcomingandpotentialregulations,suchastheEUDeforestationRegulation(EUDR)andtheproposedFORESTActintheUnitedStates,whichcouldrequirecompliance.

Globaltradeshiftsandsupplychaindisruptionsmayalsobeencouragingforest-relatedefforts.

Corporatenaturecommitmentshaveexpanded,butprogressisuneven7

ThepercentageofcompanieswithcarbontargetsintheFortuneGlobal500isstillslightlydowncomparedto2022(fourpercentagepoints)buthasincreasedsinceourpreviousanalysis.

Amongthetop100companies,thevastmajorityofthosethathadacarbontargetin2023

maintainedatargetwiththesametimeperiodandambitionin2024.Amongthosethatdid

adjusttheirtargets,mostwereminormodifications.Forexample,somecompaniesadjusted

fromapercent-basedtarget(suchas“5percentCO2reductions”)toavolume-basedtarget

(suchas“20gigatonsofCO2reductions”).Regionally,NorthAmericaexperiencedadecreaseincarbontargetsof2.6percentagepointscomparedtolastyear,whileAsiaexperiencedan

increaseof3.6percentagepoints.

Progresswasunevenacrossregions,withAsialeadinggrowthincommitments

Theshareofcompanieswiththreeormorenature-relatedtargetsroseinAsia,heldsteadyatahighproportioninLatinAmerica,andfellinbothEuropeandNorthAmerica(Exhibit3).

Asia’sstronggrowthofsevenpercentagepointsisequivalentto14additionalcompanies,

reflectingawaveofnewreportingrequirementsandinvestorpressure.Forexample,Australiaintroducedmandatoryclimate-relateddisclosuresforlargecompaniesbeginningin2025,

SingaporehasbegunphasinginreportingalignedwiththeInternationalSustainability

StandardsBoardforlistedissuers,andJapanhasbecometheworld’slargestadopterofthe

recommendationsdevelopedbytheTaskforceonNature-relatedFinancialDisclosures(TNFD),backedbygovernment-ledreformstointegratesustainabilityintofinancialreporting.These

regulationsgreatlyaffectedoverallresultsduetoAsia’slargerepresentationintheGlobal500,translatingregulatoryandmarketsignalsintothelargestabsoluteandrelativeincreasein

targetsworldwide.Atthesametime,ayearslongtrendinChinahasreversed:SustainablefundsinChinaexperiencedconsecutiveoutflowsfrom2022to2023,buttheysawmodestinflowsbyyear-end2024.6

LatinAmerica,meanwhile,heldsteadyin2025:57percentofcompanieshadthreeormore

targets,thehighestshareofanyregion(albeitwithalowerabsolutenumberofcompaniesintheGlobal500).

Bycontrast,NorthAmericaandEuropebothsawdeclinesinthenumberofcompanieswithmorethanonenature-basedtarget.NorthAmericaexperiencedthesharpestdrop,withtheshareofadvancedcompaniesfallingby2.9percentagepointsto27percent.ThisslowdownmayreflectregulatoryuncertaintyintheUnitedStates.Forexample,inMarch2024,the

SecuritiesandExchangeCommissionadoptedclimatedisclosurerulesthatfacelegal

challengesandhaveyettobeimplemented.Whilethisspecificexampleisclimatefocused,itmayreflectabroadersenseofuncertaintyintheregulatoryenvironmentfornatureand

sustainability.

6ShuXuanTanandRamnathN.Iyer,“Sustainableinvestingoutlook:Strongreturnsamidnetflowpressures,”InstituteforEnergyEconomicsandFinancialAnalysis,July8,2025.

Exhibit3

Corporatenaturecommitmentshaveexpanded,butprogressisuneven8

corporatenature-relatedtargetsvarywidelybycompanygeography.shareofFortuneGlobal500companieswithnaturetargetsbygeography,2025,%

Note:Totalnumberofcompanieshereis499duetoduplicatelistedcompanies.

1percentagepoints.

source:MckinseyanalysisofFortuneGlobal500companysustainabilityreportsandwebsites

Mckinsey&company

Europesawasmallerdeclineof1.7percentagepoints,thoughitcontinuestoleadinoverall

targetswith96percentofFortuneGlobal500companiesreportingatleastonenature-relatedtarget.Thedipinthemostadvancedregionmaysuggestapivotfrombreadthtoexecution

ascompaniesfocusonensuringcompliancebeforetakingonbroaderambitions.Forexample,

companiesmustnowdeliverontheEUNatureRestorationLaw,whichmandatestherestorationof20percentofdegradedecosystemsby2030,andarepreparingfortheEUDR,which

requiresstrictcommoditytraceabilityasofDecember2025formedium-sizeandlarge

operatorsandtraders.ForbothNorthAmericaandEurope,theimpactofongoingpoliticalandmacroeconomicfactorsremainstobeseen,butitmaycreatefurtherheadwindsto

sustainabilityambition.

Corporatenaturecommitmentshaveexpanded,butprogressisuneven9

Powersawthemostgrowth,whileagricultureandextractivessawthegreatestdecline

Amongthesectorsmeasured,manufacturingandpowercontinuetoleadinhavingthreeor

moretargetsacrossnaturedimensions(Exhibit4).Themanufacturingindustryhasthesecond-highestrepresentationinFortuneGlobal500companies,with181organizations,andhasseenafourpercentagepointincreaseincompanieswiththreeormoretargetssince2024.

Meanwhile,althoughtheagricultureandextractivessectormaintainsstrongcommitmentstonutrientsandNOxtargets,ithasseenamodestdeclineinthebreadthofitstargets,downbyapproximately6percentand3percent,respectively,inthenumberofcompaniestargetingthreeormorenaturalcapitaldimensions.Somecompaniesintheextractivessector

acknowledgetherisingdemandforelectricity,thegrowingpopulation,andchangingpolicyenvironmentsandconsumerbehaviorasincreasingchallengestomeetingtheircarbon

commitmentsandthecommitmentsoftheParisAgreement.

Companiesareincreasinglyconvergingaroundsharedframeworks

Findingsfromthe2025analysisrevealprogressandchallengesregardingkeytypesofcommitments:

—Nature-positivelanguage.Useof“naturepositive”languageandacknowledgmentsof

alignmentwiththeGlobalBiodiversityFrameworkhavenearlydoubledsincelastyear,withabout30percentofFortuneGlobal500sincludinganacknowledgmentortargetrelatedto“naturepositive”intheirreports.Thisreflectsabroadertrendofawarenessascompaniesincorporatenatureandbiodiversitycommitmentsintotheirsustainabilityframeworks.

—Globalframeworks.ManycompaniesarealsousingtheUNSustainableDevelopmentGoals(SDGs)tomeasuretheirsustainabilityambitions.Forexample,theUNGlobalCompact’s

SDGAmbitionAcceleratorengagesmorethan2,000companiesacrossmorethan90

countries,

7

helpingthemintegratenature-relatedtargetsintotheirbroadersustainability

strategies.Morethan120oftheorganizationsintheFortuneGlobal500referenceTNFDoracknowledgeadoptionoftheframeworkintheirreports.

Acrosseachofthesedimensions,collaborationwillbeessential.Corporatescanlooktootherleadersinthespacetobetterunderstandwhereandhowtheycantakeaction,

8

ortheycan

considerenteringpartnershipstoscaletheirimpact.Recenteffortsshowthepotentialofcollaboration.Forexample,morethan90companiespledgedtoparticipateintheWorldEconomicForum’sTrillionTreesInitiative.Meanwhile,theTropicalForestForeverFacilityaimstouseblendedfinancetogenerate$100billioninfundingfromprivateinvestorsfortropicalforestprotection.

9

7“SDGAmbitionAccelerator,”UNGlobalCompact,accessedJanuary6,2026.

8Spotlightonnature:Casestudiesforbusinesstransformationtowardsanature-positivefuture,WorldEconomicForumincollaborationwithMcKinsey,September2024.

9Charles(Chip)Barberetal.,“TheTropicalForestsForeverFacilitycouldfinallyfinancenatureconversation.Willfundersbackit?,”WorldResourcesInstitute,November26,2025.

Exhibit4

Corporatenaturecommitmentshaveexpanded,butprogressisuneven10

corporatenature-relatedtargetsvarybysector.

shareofFortuneGlobal500companieswithnaturetargetsbysectory2025y%

DimensionsofnaturewithdefinedtargetsNone123+

changeincompanies

with3+targetsfrom2024,p.p.'

Numberofcompanies

1727+4.0

3232-10.3

1740+1.9

3235+2.9

2929+13.2

4127-3.6

Agricultureandextractives2

constructionandbuildings

Retailsalesandservices3

Transportandtrade

Manufacturing

power

210

181

34

37

22

14

Note:Figuresmaynotsumto100%,becauseofrounding.Totalnumberofcompanieshereis498;twocompaniesareexcludedduetolackofavailabledata.1percentagepoints.

2Agricultureandextractivesaregroupedherebecausetheyarebothland-basedmaterialsindustries.of6agriculturecompaniesinthelist,3have3+targetsthisyear,while4of31extractivescompanieshave3+targetsthisyear.

3Retailsalesandservicesincludeseducation,fin