Germany's tighter deadline for achieving net-zero emissions by 2045 instead of 2050, implemented through an amendment to its Climate Change Act in August 2021, has put industries on notice. Of the 35 largest corporates we rate in Germany, the top-five emitters account for about 80% of scope 1 and 2 emissions in our data set, and 35% do not yet have a net-zero target in place, which validates the government's more aggressive timeline. Although stepping up efforts to reduce greenhouse gases comes with a hefty price tag, German businesses could gain a competitive advantage over the long term, in a market where most players will eventually need to innovate or reflect the additional costs in their products and services.