Home Depot slashes energy usage
The Home Depot detailed its carbon emission reductions and new supplier diversity spending goal in its 2022 ESG Report.
The home improvement giant said it reduced its electricity consumption by approximately 11% year-over-year in its U.S. stores – while at the same time opening five new locations. Since 2010, The Home Depot has decreased electricity consumption in its U.S. stores by 50%.
The Home Depot’s energy initiatives are included in the company’s 2022 ESG Report, which provides updates on its progress centered around three environmental, social and governance (ESG) pillars: people, operating sustainably and strengthening communities.
The retailer’s sustainable operations achievements included the reduction of combined Scope 1 and 2 carbon emissions by approximately 172,000 metric tons in 2021, equivalent to taking more than 37,000 cars off the road for a year. The chain also completed a multi-year project to convert U.S. stores to LED overhead lighting, and eliminated 1.1 million square feet of PVC film by redesigning its private label packaging in fiscal 2021 – enough to cover 19 football fields.
Other highlights from the report are below.
• The Home Depot spent $3.3 billion with Tier I diverse suppliers in 2021 and announced a goal to spend $5 billion annually by 2025.
• The Home Depot paid “success sharing” bonuses to non-management associates of approximately $739 million in fiscal 2021.
• The company's U.S. associate base was once again more ethnically diverse than the U.S. working population; approximately 36% of its new hires were women, and more than 57% were ethnically diverse in 2021.
• Awarded approximately $230 million in grants to approximately 164,000 associates since 1999 through its internal associate support program, The Homer Fund.
• The Home Depot Foundation committed more than $7 million in 2021 to help communities impacted by natural disasters.
"Our team knows that an effective ESG strategy works best when we all work together – our associates, nonprofit partners and supplier partners – to generate the most positive impact possible," said Ted Decker, CEO and president of The Home Depot. "The progress we've made in focusing on our people, operating sustainably and strengthening our communities is a testament to the hard work and dedication of our associates.