State of Transition report 2024

The State of Transition report 2024 provides a comprehensive assessment of how major global companies are progressing towards the low-carbon transition and aligning with the Paris Agreement. Covering over 1,000 of the world’s highest-emitting public companies across 17 sectors, the report enables investors to evaluate corporate exposure to climate risks and opportunities using publicly disclosed data.

Using TPI’s Management Quality and Carbon Performance frameworks, the report assesses both how companies manage climate-related risks and how their emissions trajectories compare with international climate targets. It analyses trends, regional differences and the relationship between governance and emissions outcomes, providing a consistent benchmark of corporate climate performance.

The report finds continued progress in corporate climate management, but highlights a significant gap between current company strategies and those required to meet global climate goals. While more companies are setting climate targets, many lack credible, actionable transition plans, underscoring the need for stronger corporate action and investor engagement to support the transition to a net zero economy.