TORONTO, July 27, 2023 /CNW/ - Today, The Home Depot released its 2023 ESG Report. The report provides details on the company's progress on its environmental, social and governance (ESG) pillars: Focus on our People, Operate Sustainably and Strengthen our Communities. This year, the company achieved several of its ESG goals and set new ones to benefit its associates, customers, communities and the planet.
"Since the company's inception, we have invested in running a responsible, sustainable company because it makes our business stronger, more agile, and more resilient," said Ted Decker, chair, president and CEO of The Home Depot. "That has always encouraged good business practices and enabled us to consistently deliver industry-leading results."
In 2022, the company reduced its Scope 1 and 2 carbon emissions by approximately 92,000 metric tons, equivalent to taking more than 20,000 cars off the road for a year. Recently, the company submitted new carbon reduction goals to the Science Based Target initiative for Scope 1, Scope 2 and Scope 3 "Use of Products Sold" emissions.
The Home Depot's greatest environmental impact comes from the products it sells. By the end of fiscal year 2028, the company expects more than 85% of U.S. and Canadian sales in outdoor power equipment, specifically push lawn mowers and handheld outdoor equipment like leaf blowers and trimmers, will run on rechargeable battery technology instead of gas.
Goals in progress:
- All private brand fiber packaging for new products will be compostable, recyclable, or recycled content beginning FY 2027. (U.S. & Canada)
- Will not allow added PFAS chemicals in our private brand patio and home décor products by FYE 2025. (U.S. & Canada)
- Recycled more than 14,000 metric tons of cardboard and plastic from our stores and distribution centers. (Canada)
- Collected over 410,000 pounds of household electronics, power tools, cellphones and other rechargeable batteries for responsible recycling through our customer take-back program. (Canada)
- Produced 335 megawatts of renewable or alternative energy capacity, which is enough to supply power to meet the needs of 55,000 homes. (U.S. & Canada)
- The Home Depot Canada Foundation, invested $10.2 million in 2022 in an effort to support youth who face or have faced homelessness. And has achieved 49 per cent of its goal to invest $125 million by 2030. (Canada)
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer. At the end of the first quarter of fiscal year 2023, the Company operated a total of 2,324 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs approximately 475,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
SOURCE The Home Depot of Canada Inc.
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