In support of the global effort to reach net zero by 2050, Lowe’s has adjusted its corporate priorities to implement and support solutions that reduce its carbon footprint. In its recently released 2022 Corporate Responsibility Report, the company discusses its current initiatives and their effect on its sustainability.
“We have a responsibility to the customers and communities we serve,” said Marvin Ellison, Lowe’s Chairman and CEO. “This report not only reflects our efforts and advancements but also our culture of continuous improvement.”
One key goal for Lowe’s was fulfilling 50% of its entire facility portfolio’s energy needs with renewable sources by 2030. While the report reveals that only 9% of its energy is currently derived from renewable resources, the company has plans to bolster this number.
To start, Lowe’s is leveraging various technologies and data analytics to understand how their facilities consume energy. These results will guide how the company improves building performance and reduces energy consumption, which includes harnessing energy through direct and indirect means, as well as on-site generation.
For example, in 2022, Lowe’s began installing on-site solar systems at select stores and facilities throughout New Jersey, California, and the District of Columbia. Currently, 18 facilities have operational systems, and 150 others have signed contracts committing to installing solar systems in the near future.
In total, Lowe’s was able to generate 309,785 MWh of renewable energy in 2022, representing a 147,986 MWh increase from 2020.
Lowe’s isn’t only evaluating what energy it uses, but how it uses these resources. Recently, the company implemented a pilot program at its Pro Fulfillment Center in Charlotte, North Carolina and at multiple Distribution Centers throughout California to transition to electric-only equipment.
In addition to increasing its use of renewable energy, Lowe’s has also committed to reducing its greenhouse gas (GHG) emissions in comparison to its 2021 levels.
Scope 1 and 2 emissions will need to see a 40% reduction – to date, they have achieved a 5% reduction.
Scope 3 emissions will need to see a 22.5% reduction – to date, they have achieved an 8% reduction.
Lowe’s also reported that since 2016, they have slashed their scope 1 and 2 GHG emissions by 49%.
Lowe’s commitment to sustainability is one based on continuous improvement supported by data and research. Over the next coming years, the company will continue to report on its progress and implement new solutions to achieve its net-zero goals.