Fortune 500

In recent years, there has been a growing focus on the environmental impact of large corporations, including those listed in the Fortune 500.[6] As part of this increasing awareness, the first-ever report on Fortune 500 greenhouse gas (GHG) emissions was published on January 26, 2022. The report, released by Recapture, a climate tech company in the carbon removal space, aimed to analyze and quantify the carbon footprints of Fortune 500 companies, providing valuable insights into their contributions to global emissions. According to the report, Fortune 500 companies were estimated to be responsible for approximately 27% of global emissions. While actual reported emissions from these companies equaled about 8.04 billion tonnes of carbon dioxide equivalent (CO₂e) in 2018 and 7.56 billion tonnes in 2019, the true footprint, as estimated by Recapture, was roughly 13.34 billion tonnes of CO₂e in 2018 and 13.15 billion tonnes of CO₂e in 2019. The report also highlighted the prevalence of inconsistent reporting and undercounting of emissions, particularly in regards to Scope 3 emissions—the emissions resulting from customers' use of a company's products or services.[7] The findings of this report sparked discussions on the need for improved and standardized measurement and reporting practices to address the environmental impact of Fortune 500 companies.[8]

In 2022, the U.S. Securities and Exchange Commission (SEC) proposed rule changes to enhance and standardize climate-related disclosures for investors.[9] These proposed changes, if adopted, would require registrants to include specific climate-related disclosures in their registration statements and periodic reports. The aim of these rules is to provide investors with consistent and comparable information for making informed investment decisions, while also establishing clear reporting obligations for issuers. The proposed rules would require disclosure of a registrant's governance of climate-related risks, the impact of climate-related risks on their business and financial statements, and the effects of climate-related events and transition activities on their financial statements.[10] Additionally, the rules would require disclosure of greenhouse gas emissions, including Scope 1, Scope 2, and Scope 3 emissions. The SEC Chair, Gary Gensler, expressed support for the proposed rules, highlighting the need for reliable information about climate risks to help investors assess financial risks and make informed decisions. The proposed rule changes aim to provide companies and investors with clear guidelines and meet the demand for consistent and comparable climate-related information in financial reporting.[11]

During the public comment period for the proposed rules, Eric Kenny, an emissions analyst, provided feedback to the SEC. Kenny presented data from the Recapture "Fortune 500" report, conducted for the years 2018 and 2019, which analyzed publicly available GHG emission figures of the largest publicly traded firms in the US. The data highlighted gaps in reporting and inconsistencies in GHG emissions disclosure. Kenny advocated for the adoption of the proposed rules, emphasizing the need for standardized frameworks and mandatory reporting of emissions to understand and measure the overall impact of corporate emitters.[12]

In his comment to the SEC regarding the proposed rules for climate-related disclosures, Eric Kenny, an emissions analyst, presented data from the "Fortune 500" report for 2018 and 2019. The analysis highlighted gaps in reporting and inconsistencies in GHG emissions disclosure among the largest publicly-held companies in the US. Kenny advocated for the adoption of the proposed rules and emphasized the need for standardized frameworks and mandatory reporting of emissions. He supported the inclusion of Scope 3/value-chain emissions in reporting, as they constituted a significant portion of overall GHG totals for Fortune 500 companies. Kenny also endorsed the use of gross GHG figures, a multi-year phase and revision process for value-chain emissions, adherence to GHG protocol, third-party attestation, and disclosure of targets and baseline emissions to aid investors in assessing firms' climate commitments and goals. He emphasized the importance of measurable and comparable GHG emission figures for prospective investors.[13]

This is the list of the top 18 states with the most companies within the Fortune 500.[17]

Breakdown by state

Rank	State	Companies
1	California	53
	New York	53
3	Texas	49
4	Illinois	28
5	Ohio	25
6	Pennsylvania	24
7	Virginia	22
8	Florida	20
9	Georgia	19
10	Massachusetts	18
	Minnesota	18
12	Michigan	17
13	New Jersey	16
14	Connecticut	14
15	North Carolina	12
16	Colorado	10
	Missouri	10
	Tennessee	10