Driving energy efficiency in our direct operations
To achieve these commitments we’ve been busy improving the energy efficiency in our stores, distribution centres and support offices. Last financial year (FY20) our total emissions from our owned and controlled operations equated to 108 ktCO2-e, down 14.6% from 126 ktCO2-e in FY18.
To reduce our emissions, we’ll be focusing on:
- Constant monitoring of our entire store networks energy usage through Building Monitoring Systems and our Energy Centre
- Improving energy efficiency and the performance of our air-conditioning and lighting systems
- Installing automated and timed LED lighting
- Installing solar arrays 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
Target is on an exciting journey working towards our NetZero future, but we recognise the value of working together. 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.
Through the Fashion Industry Charter, we have started working in partnership with other signatories and our suppliers to build a carbon reduction roadmap for the industry. These partnerships are helping us explore and understand the different opportunities to reduce greenhouse gas emissions in our value chain, many of which complement our other existing Better Together Commitments:
A key piece to the puzzle on our journey to a NetZero future is data. As we work to engage with our suppliers on the energy efficiency of their own operations, helping them to understand and benefit from reducing greenhouse gas emissions, we will estimate the emissions from our value chain. This high-level data will aid us in tailoring our initial efforts to understand and pursue greenhouse gas reductions in our value chain while we work to improve the quality and availability of this information.
Last financial year (FY20), the emissions from our value chain as a part of Kmart Group were estimated to be approximately 10,407 ktCO2-e. This figure will continue to be refined as access to supplier specific data improves, and our scope of reporting expands.
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. Through the Taskforce on Climate-related Financial Disclosure process we undertake a rigorous risk assessment to understand the potential risks we face as a result of climate change, and the opportunities available to us to address them.