Commercial, Energy Efficiency, GHG Emissions, Commercial, Distributed Generation, Solar - October 4, 2023
REI Co-Op’s Net Zero Targets Approved by SBTi
REI Co-Op, a specialty outdoor retailer, announced that the Science Based Target initiative (SBTi) approved the retailer's net-zero targets.
The company plans to expand the goals of its climate leadership, deploy renewable energy for both its own operations and partners in the U.S., and join the international coalitions of concerned businesses working across borders and deep into supply chains.
The SBTi approved these targets:
- REI has committed to reducing the absolute Scope 1 and 2 greenhouse gas emissions 47% by 2030 from a 2019 base year, while further committing 41% of suppliers by emissions will have science-based targets by 2025.
- REI has committed to reduce absolute Scopes 1,2 and 3 GHG emissions 90% by 2050 from a 2019 base year.
- REI has committed to reach net-zero GHG emissions across its value chain by 2050.
The co-op has engaged its brand partners throughout 2023 by hosting workshops that provide guidance on how to measure emissions, set science-aligned reduction targets and put in place action plans to reduce emissions.
"We believe businesses have an urgent responsibility to address the climate crisis and invest in the communities in which they operate," said Chris Speyer, Chief Merchandising Officer at REI, in a statement. "The co-op is proud to retail a huge number of brands that share this sense of responsibility, and we will continue collaborating with our partners to reduce our collective impacts."
REI is committed to procuring more local and more accessible renewable energy for both its own operations and those of its partners.
The co-op signed a three-year clean energy agreement with Sol Systems alongside Nester Hosiery, one of REI's largest manufacturers in the U.S. The agreement provides REI and Nester Hosiery with over 11,000 renewable energy credits (RECs) per year, all sourced from recently built solar in North Carolina. These RECs are local for both REI and Nester and ensure one of the co-op's key suppliers gets 100% renewable electricity.
REI also finalized the purchase of a four-year strip of 25,000 RECs from distributed renewable energy projects in Vietnam, Indonesia, Cambodia and the Philippines through Powertrust.
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