Published by Todd Bush on December 5, 2022
Company's net-zero roadmap focuses on reducing impact of its value chain, increasing product efficiency and transitioning to renewable energy sources
MOORESVILLE, N.C., Dec. 5, 2022 /PRNewswire/ -- Lowe's today announced its goal to reach net-zero emissions across the company's scope 1, 2 and 3 greenhouse gas emissions by 2050, in accordance with guidelines from the Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with climate science. To meet interim SBTi targets, Lowe's has also committed to decreasing its scope 1 and scope 2 emissions by 40% and reducing scope 3 emissions by 22.5% below 2021 levels by 2030.
"Lowe's takes pride in making homes better for all, and part of doing that is reducing our impact on the environment," said Marvin Ellison, Lowe's chairman and CEO. "Starting with the net-zero goal we've made today, we're excited to work even more closely with stakeholders – from suppliers to customers – to drive sustainable practices."
To reach net-zero emissions by 2050, Lowe's reduction strategy includes:
"This new target marks a significant expansion of our previous climate commitments," said Chris Cassell, Lowe's vice president of corporate sustainability. "Through strong collaboration, this challenging but critical work will drive meaningful improvements across our full value chain, from our suppliers to Pros' worksites, to our customers' homes and our communities."
The net-zero target builds on Lowe's commitment to sustainability and recent progress, including achieving its 2025 goal of reducing scope 1 and scope 2 greenhouse gas emissions by 40% – relative to 2016 emissions levels – four years early. The company is also working to reach 50% renewable energy for Lowe's facilities by 2030, and 74% of its strategic suppliers had sustainability goals in place in 2021.
Additionally, Lowe's is making homes and buildings more sustainable and energy efficient. In 2021 alone, the company helped customers save 34.6 million metric tons in greenhouse gas emissions from the sale of ENERGY STAR certified products over their lifetime.
To learn more about corporate responsibility at Lowe's and read updates on its progress against these new targets, please visit https://responsibility.lowes.com.
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 19 million customer transactions a week in the United States and Canada. With fiscal year 2021 sales of over $96 billion, Lowe's and its related businesses operate or service nearly 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
Disclosure Regarding Forward-Looking Statements
Included herein are forward-looking statements, including statements with respect to the achievement of future goals. There are many factors that affect management's views about future events and trends of the business and operations of the company, all as more thoroughly described in the company's filings with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking information included in this release or any of its public filings.
Contact:
Lowe's Companies, Inc.
Steve Salazar
[email protected]
SOURCE Lowe's Companies, Inc.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ⚡ Energy Department Removes Barriers for American Energy Producers, Unleashing Investment in Domestic Hydrogen 🛳️ MASH Makes Powers First Vessel Trial With Biofuel From a Carbon-...
Inside This Issue 🛢️ Conestoga Energy Completes Drilling of Class VI Carbon Capture & Sequestration Well, Advances Toward EPA Application 🏗️ How Microsoft and Sublime Systems Are Reinventing C...
Inside This Issue 💸 EDF Slams Repeal of 45V Hydrogen Credit, Citing $32Bn in Higher Household Energy Costs and Job Losses 🤝 Johnson Matthey to Sell Blue Hydrogen Business to Honeywell as Part of £...
The U.S. Department of Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office today removed barriers for the American hydrogen industry by updating its 45VH2-GREET modeling tool. The latest vers...
NETL Patents New Process for Extracting Critical Resources from Coal Fly Ash at High Quantities
NETL researchers developed a new process for extracting economically and strategically vital rare earth elements (REE) and critical minerals (CM) from America’s coal fly ash at high quantities and ...
World’s First Plant That Captures CO2 From Air to Make Building Materials Opens
Aggregates produced using CO2 captured by Mission Zero Technologies ‘Direct Air Capture’ technology (Image courtesy of Mission Zero Technologies) A demonstration project that uses direct air captu...
Plug Power’s Georgia Hydrogen Plant Sets U.S. Production Record Using Plug Electrolyzer Technology
April 2025 Marks Industry-Leading Milestone with 300 Metric Tons of Liquid Hydrogen Produced WOODBINE, Ga., -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.