Commercial, Energy Efficiency, GHG Emissions - December 5, 2022
Lowe's Sets 2050 Goals
Lowe's announced its goal to reach net-zero emissions across the company's Scope 1, 2 and 3 GHG emissions by 2050, in accordance with guidelines from the Science Based Targets initiative (SBTi).
To meet interim SBTi targets, Lowe's has also committed to decreasing its Scope 1 and scope 2 emissions by 40% and reducing Scope 3 emissions by 22.5% below 2021 levels by 2030.
"Lowe's takes pride in making homes better for all, and part of doing that is reducing our impact on the environment," said Marvin Ellison, Lowe's chairman and CEO, in a statement. "Starting with the net-zero goal we've made today, we're excited to work even more closely with stakeholders – from suppliers to customers – to drive sustainable practices."
The company is making further investments in energy efficiency and renewable energy within the company's operations, while exploring emerging technologies to reduce emissions associated with its vehicle fleet and facilities.
Lowe’s is partnering with suppliers to help reduce upstream emissions to increase their operational efficiency and reduce their emissions through the use of renewable energy and low-carbon innovations.
The net-zero target builds on Lowe's commitment to sustainability and recent progress, including achieving its 2025 goal of reducing Scope 1 and 2 GHG emissions by 40% – relative to 2016 emissions levels – four years early. The company is also working to reach 50% renewable energy for Lowe's facilities by 2030, and 74% of its strategic suppliers had sustainability goals in place in 2021.