Consistent with its longstanding commitment to protect the climate, Lowe’s has announced that it will set a Science Based Net-Zero target in 2022. The new target will include near and long-term greenhouse gas (GHG) emissions reduction goals for Lowe’s full value chain, including Scopes 1, 2 and 3.
What are Scopes 1, 2 and 3? Scope 1 involves direct emissions from owned or controlled sources. Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the reporting company. Scope 3 includes all other indirect emissions in a company’s value chain.
Science based targets provide companies with a clearly defined path to reduce emissions in line with the Paris Agreement goals. The new target will expand upon Lowe’s previous commitment to reduce its Scope 1 & 2 emissions 60 percent by 2030, by including Scope 3 emissions and providing a path to net-zero by 2050.
“Lowe’s has always been committed to protecting our people, our communities and the planet, and setting a net-zero target is the next step on this journey,” said Marvin Ellison, Lowe’s chairman and CEO. “As one of the world’s largest home improvement retailers, we have an opportunity to help inspire and guide our industry towards a low-carbon future and help our customers lessen their impact on the environment.”
In addition to reducing GHG emissions from its own operations, the new target will also include reduction efforts for its supply chain and the products Lowe’s sells.
Learn more about Lowe’s sustainability commitments and progress or read our 2021 Corporate Responsibility Report. To learn more about Science Based Targets visit their website.
