To support the retail industry’s efforts to mitigate climate risks and set appropriate climate-related goals, RILA has developed a Retail Greenhouse Gas (GHG) Target Tracker which tracks the GHG emissions targets of RILA members and other large U.S. retailers. As of March 2022, over 60 large U.S. retailers have adopted or are in the process of developing targets for emissions reductions with more companies expected to do so over the next several years. More than half of those retailers with emissions reduction targets have set science-based targets, with many certified by the Science-Based Targets Initiative (SBTi).
GHG Target Trends and Insights
In general, companies that have set emissions reduction goals are more likely to have set goals for their Scope 1 and 2 emissions. Fewer companies have Scope 3 emission reduction goals. Retailers with Scope 3 emission goals have typically limited their goal purview to include one or more of the company’s larger Scope 3 emissions categories rather than all Scope 3 categories. The most common target date for achieving an emission reduction goal is 2030 and many 2030 goals are interim goals towards a longer-term target.
Some retailers have also set aggregate emissions goals, either in addition to or instead of goals for specific Scopes. These are typically “net zero” or “carbon neutral” goals, with target dates for achievement by 2040 or 2050, though some companies have established an early target date of 2030.
Fewer retailers have specific renewable energy usage targets, reflecting a general trend that increased renewable energy usage and energy efficiency measures are now a standard business practice imbedded within an emissions reduction target.
For a full list of retail companies with emissions reduction, energy efficiency, and/or renewable energy goals see the detailed Retail GHG Targets Tracker below. (RILA member login required)
Learn more about emissions goalsetting, key terms and the biggest opportunities for retail emissions reduction in RILA’s Retail Climate Action Blueprint here.
Comments, questions or edits? Please reach out to Kaela Martins, RILA Senior Manager, Environmental Programs & RCC.