Driving energy efficiency in our direct operations
Since 2014 we’ve been busy improving the energy efficiency in our stores, distribution centres and support offices. This means that our stores today use 30 per cent less energy per square meter than they did in 2014.
However, we know we have much still to do and have set a new target to achieve a 20 per cent reduction in greenhouse gas emissions (using 2018 as the base year) from our owned and controlled operations (stores, distribution centres and offices) by July 2025, and by 50% by July 2030.
To reduce our emissions, we’ll be focusing on:
- Improving the performance of our air-conditioning and lighting systems
- Installing solar on stores and distribution centres where possible
- Working with landlords to access their roof space and/or power generated by their solar systems
- Purchasing renewable energy
- Developing and marketing (net) carbon neutral products in appropriate categories where there is a high level of perceive environmental risk/impact
Reducing our absolute greenhouse gas emissions
We know that approximately ninety per cent of our overall greenhouse emissions are in our value chain and beyond our direct control (owned and controlled operations), which is why we have joined with other global brands and retailers and signed the Fashion Industry Charter for Climate Action.
We have started working in partnership with other signatories and our suppliers to build a carbon reduction roadmap for the industry.
Beyond targets, Target has also adopted the recommendations of the international Taskforce on Climate-related Financial Disclosures. These recommendations aim to help investors understand a company’s financial exposure to climate risk and help companies disclose this information in a clear and consistent way.