Commercial, Sourcing Renewables - July 23, 2020
The Home Depot targets 335 MW of RE by 2025
The Home Depot announced July 23 their new goal to produce and procure energy from 335 MW of renewable and alternative energy sources by 2025 in addition to eliminating expanded polystyrene (EPS) foam and polyvinyl chloride (PVC) film from its private brand packaging by 2023.
The company released their 2020 Sustainability Report, updating their progress on their previously set goals, like reducing CO2 emissions by 50% by 2035. In 2019, they reduced emissions by 10% and reduced electricity consumption in U.S. stores by 383 million kWh, or 12%.
"We believe our commitment to continuing progress on environmental, social and governance issues has made our company stronger, had a lasting positive impact on the environment, deepened our relationships with associates and customers, and created long-term shareholder value," Craig Menear, chairman, CEO and president of The Home Depot, said in a statement. "I want to thank our associates and suppliers for the significant progress we made last year and look forward to making meaningful progress in the future."
Between 2010 and 2019, The Home Depot reduced electricity use in their U.S. stores by 35%, primarily through the major rollout of LED lighting across stores.
Moving forward, they intend to reach their renewable energy sourcing goals by nearly doubling the number of stores with on-site solar panels and continuing to leverage on-site fuel cells and offsite wind and solar energy.