The company has also joined the Science Based Targets initiative (SBTi) to reduce global emissions, committing to set goals for Scope 1, 2 and 3 emissions by 2023. These updates and additional goals were released in its 2021 ESG Report outlining the company’s environmental, social and governance initiatives and progress made in 2020.
“Our commitment to reducing our impact on the planet, taking care of our people, and building strong, sustainable communities is foundational to who we are” said Craig Menear, chairman and CEO of The Home Depot. “More than 40 years ago, our founders gave us eight core values that continue to guide our business today. The progress we made in 2020 demonstrates the commitment of our associates and suppliers to these values, as they prioritized taking care of our associates, customers and communities, as well as the environment, while navigating a year unlike any other.”
The Home Depot’s corporate responsibility strategy is organised around three pillars: focusing on its people, operating sustainably and strengthening communities. As part of its existing pledge to reduce carbon dioxide emissions by 40 percent by 2030 and 50 percent by 2035, the company reduced its Scope 1 and 2 carbon emissions by more than 127,000 metric tons in 2020. It accomplished this by driving efficiencies and investing in green energy.
The company reduced US store electricity consumption by 44 percent from 2010 to 2020, with electricity use in US stores falling by more than 14 percent in 2020 alone due to the installation of LED lighting, the use of building-automation systems and the addition of energy-efficient heating, air conditioning and ventilation systems. It also operates solar farms on the rooftops of 71 US stores - up from 47 in 2019.
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