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Lowe's announced a series of new climate pledges, including a 2050 aim to achieve net zero emissions across the entire value chain.
Chairman and CEO of Lowe's, Marvin Ellison, stated:
"Lowe's takes pleasure in making homes better for everyone, including lowering our environmental effect. Starting with the net-zero target we've established today, we're eager to work even more closely with stakeholders – from suppliers to customers – to promote sustainable practices."
Lowe's stated that its new net zero goal was established in accordance with Science Based Targets initiative (SBTi) guidelines and that the company has also committed to interim SBTi-aligned climate goals, such as reducing Scope 1 and 2 emissions by 40% and Scope 3 emissions in its broader value chain by 22.5% by 2030, based on 2021.
Increasing operational efficiency and working to reduce emissions within its own footprint, including investments in energy efficiency and renewable energy, as well as exploring emerging technologies to reduce emissions associated with its vehicle fleet and facilities; expanding sustainable products and services offered to customers, such as transitioning from gas-powered products to battery-powered ones; and exploring emerging technologies to reduce emissions associated with its vehicle fleet and facilities.
Lowe's Vice President of Corporate Sustainability, Chris Cassell, stated:
"This new goal represents a substantial increase of our prior climate commitments. This difficult but essential work will result in significant improvements throughout our entire value chain, from our suppliers to the job sites of our Pros to the homes and communities of our customers."