Commercial, GHG Emissions, Sourcing Renewables - May 11, 2021
Bed Bath & Beyond Commits to Net Zero by 2040
In its first comprehensive environmental, social and governance (ESG) strategy, Bed Bath & Beyond has set a 2040 target of net zero emissions.
To accomplish this goal, the company plans to (among other initiatives)
- Increase its use of renewable energy
- Invest up to $250 million in lowering the carbon footprint of its stores by 20%
- Reduce 50% of its domestic carbon footprint by increasing its use of intermodal train transportation (as opposed to open-road trucking)
- Install more energy-efficient HVAC systems
- Install EV charging stations for its employees
Bed Bath & Beyond already sources 11% of its electricity from wind and solar farms, and uses AI to monitor and manage its stores’ and operations’ carbon footprints. It has also modified its supply chain agreements to enact more environmentally friendly practices.
"For 50 years, Bed Bath & Beyond has made the home our business, and that commitment extends well beyond the foundations of our stores to the role we can play in creating positive change for our associates, the communities we serve, and the planet we call home," said Mark Tritton, president and CEO of Bed Bath & Beyond, in a statement.