Climate Change Data

Environmental Metrics

ESG Focus Areas

• Responsible Sourcing
• Carbon Reduction
• Sustainable Products
• Repair/Reuse/Recycle
• Digital Divide

Environmental Achievements

• Exceeded goal to reduce carbon emissions by 20 percent by 2020 (previous goal); set new goal to reduce absolute carbon emissions by 45 percent by 2020 from a 2009 baseline.
• Reduced lighting energy usage by nearly half through store lighting retrofit project (840 stores).
• Collected more than 1 billion pounds of e-waste (cumulative).
• Collected more than 161 million pounds of consumer electronics and 106 million pounds of appliances in FY2016.

Social Achievements

• Best Buy Teen Tech Centers served more than 1,200 teens in FY2016.
• Geek Squad Academy held academies in 29 cities across the U.S. in FY2016, impacting more than 6,000 students.
• Continued support for ConnectHome initiative to bridge the digital divide.

Governance Achievements

• Nominating, Corporate Governance and Public Policy Committee of the Board of Directors oversees Corporate Responsibility & Sustainability (CR&S).
• 100 percent completion rate for supplier self-assessment questionnaires (SAQs) and key performance indicator (KPI) reports.
• No significant fines or non-monetary sanctions for environmental non-compliance in FY2016.
• No significant substantiated complaints regarding breach of customer privacy and loss or customer data in FY2016.

Climate Goals & Targets

Environmental Challenges

• Extreme weather events impacting approximately 60 percent of large format stores in FY2016.
• Increasing costs of managing TV and monitor disposal due to lower commodity prices and decline in global outlets for recycled glass.
• Digital divide impacting underserved youth.
• Labor shortage in China impacting supply chain.
• Lack of transparency among smelters regarding conflict minerals sourcing.

Mitigation Strategies

• Set science-based carbon reduction goal of 45 percent by 2020, including renewable energy component.
• Implemented fees for TV and computer monitor recycling to cover increased disposal costs.
• Launched Best Buy Teen Tech Centers and Geek Squad Academy programs.
• Implemented Supply Chain Sustainability (SCS) program with supplier audits and capacity building.
• Participated in industry collaborations to improve conflict minerals traceability and encourage smelter validation.

Supply Chain Management

Supplier Audits: 100 percent of new suppliers screened utilizing environmental and human rights criteria in FY2016; third-party audits conducted for high-risk suppliers; Best Buy audits for medium-risk suppliers.

Responsible Procurement

• EICC Code of Conduct
• Environmental and human rights screening criteria
• Annual self-assessment questionnaires (SAQs)
• Quarterly key performance indicator (KPI) reports
• Conflict Minerals Policy

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters and extreme weather events

Opportunities

• Cost-effective energy saving solutions; renewable energy sourcing; programs supporting customers through the life of their products.

Reporting Standards

Frameworks Used: GRI G4

Certifications: ISO 14001 (Environmental Management System)

Third-party Assurance: POINT380 (for Scope 1, 2, and 3 carbon emissions)

Sustainable Products & Innovation

• ENERGY STAR certified products; EPEAT registered products; Blue Label laptops; Connected Home products (smart thermostats, smart lighting, smart irrigation, home energy meters); solar panels.

Awards & Recognition

• EPA’s Green Power Partner (ranked No. 4 among retailers); EPA’s Retail Partner of the Year (Sustained Excellence designation); EPA’s Sustainable Materials Management (SMM) Electronics Challenge Champion and Gold Level Participant Awards; Call2Recycle Leader in Sustainability.

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity, Equity & Inclusion
• Responsible Sourcing
• Community Investment
• Data Privacy and Security
• Ethical Business Practices

Environmental Achievements

• Reduced carbon emissions by 61% over 2009 baseline
• Achieved TRUE certification for zero waste at Reverse Logistics Center
• Reduced water use by 31% in 2020 compared to 2019 (partially due to reduced operating hours)
• Increased waste diversion to 78%

Social Achievements

• Increased starting wage to $15 per hour
• Decreased employee turnover from 47% in FY13 to 30% in FY21
• Provided 40 hours of training per employee
• Raised $22.4 million for St. Jude Children's Research Hospital
• Committed to spending $1.2B with diverse businesses by 2025
• Supported 35 Best Buy Teen Tech Centers

Governance Achievements

• 45% of Board of Directors members are female
• Named to Ethisphere’s list of World’s Most Ethical Companies for the seventh year
• No significant fines or non-monetary sanctions for environmental non-compliance in FY21
• No material cyber incidents affecting Best Buy in FY21
• No product recalls on private label products in FY21

Climate Goals & Targets

Environmental Challenges

• Finding viable electric vans and trucks for in-home appointments and deliveries
• Potential rebound in water usage as business returns to pre-pandemic levels
• COVID-19 pandemic impacting on-site audits and training
• Addressing allegations of forced labor in supply chain
• Identifying conflict minerals with certainty in supply chain

Mitigation Strategies

• Membership in Corporate Electric Vehicle Alliance
• Water Stewardship Committee established and water reduction targets set
• Deployment of remote audits, desktop reviews, shared audits and co-audits
• Proactive engagement with suppliers and industry peers to address forced labor allegations
• Supplier training and audits on conflict minerals, partnership with RMI

Supply Chain Management

Supplier Audits: 140/year

Responsible Procurement

• Supplier Code of Conduct
• RBA membership
• Third-party audits

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather
• Rising temperatures
• Flooding
• Water shortages

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Renewable energy investments
• Energy efficiency improvements

Reporting Standards

Frameworks Used: GRI Standards: Core option, SASB, TCFD, SDGs, KnowTheChain, CDP

Certifications: ISO 14001:2015

Third-party Assurance: Point380

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 4 (Quality Education)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)

Various initiatives contribute to these goals, including renewable energy investments, waste reduction programs, carbon emission reduction targets, Teen Tech Centers, responsible sourcing, and diversity and inclusion initiatives.

Sustainable Products & Innovation

• ENERGY STAR certified products
• EPEAT registered products
• Products in Sustainable Living online category

Awards & Recognition

• ENERGY STAR Partner of the Year (8 consecutive years)
• CDP Climate A List (5th year)
• World’s Most Ethical Companies (7th year)
• Best Place to Work for LGBTQ Equality (16th year)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity, Equity & Inclusion
• Responsible Sourcing
• Social Impact
• Governance

Environmental Achievements

• Reduced carbon emissions 62% over 2009 baseline
• Reduced water consumption by 24% since 2019
• Collected over 2.5 billion pounds of electronics and appliances for recycling since 2009
• Achieved TRUE zero waste certification at Chino, California supply chain facility

Social Achievements

• Expanded employee benefits to offer greater support, including paid leave and caregiver support
• Invested $10 million with Black, Latinx and Indigenous tech startups through Brown Venture Group
• Provided 50 hours of training and development to employees
• Raised $145 million for St. Jude® over the last 9 years
• Expanded Best Buy Teen Tech Center® program

Governance Achievements

• 45% of Board of Directors members are female
• Named to Ethisphere’s list of World’s Most Ethical Companies for the 8th year
• Awarded Prime status on ISS-ESG Corporate Rating

Climate Goals & Targets

Environmental Challenges

• Increased plastic bag usage due to the rebound in store operations post-pandemic
• Supply chain disruptions due to the COVID-19 pandemic
• Addressing climate change and reducing Scope 3 emissions

Mitigation Strategies

• Implementing a program to reduce plastic bag usage modeled after Canadian stores
• Adapting to virtual audits and flexible training approaches during the pandemic
• Working collaboratively with suppliers, utilities, NGOs and policymakers to align to future SBTi Net-Zero Scope 3 guidance

Supply Chain Management

Supplier Audits: 136 audits in FY22 (115 third-party, 21 Best Buy)

Responsible Procurement

• Supplier Code of Conduct
• Third-party audits
• Worker empowerment program

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather
• Rising temperatures
• Flooding
• Water shortages

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Renewable energy investments

Reporting Standards

Frameworks Used: GRI Standards: Core option, SASB, TCFD, SDGs, CDP

Certifications: ISO 14001:2015

Third-party Assurance: Optera (Scope 1, 2, and 3 emissions data)

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 4 (Quality Education)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)

Various initiatives contribute to these goals

Sustainable Products & Innovation

• ENERGY STAR certified products
• Yardbird outdoor furniture (using ocean-bound plastic)

Awards & Recognition

• Fortune’s list of the World’s Most Admired Companies
• JUST 100 list
• Barron’s list of 100 most sustainable companies
• CDP Climate A List
• ENERGY STAR Partner of the Year

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced operational carbon usage by 66% since 2009.
• Achieved 70% waste diversion, working toward 85% by 2025.
• Reduced enterprise water usage by 13% since 2019, working toward 15% by 2025.
• Estimated customer savings of nearly $4 billion in energy costs from ENERGY STAR certified products since 2017, working toward $5 billion by 2030.
• Achieved zero waste TRUE certification at three additional supply chain facilities.

Social Achievements

• Opened the 52nd Best Buy Teen Tech Center®, more than halfway to the goal of 100 by 2025.
• Ranked 34th (No. 1 retailer) on the JUST Capital list.
• Allocated more than $13 million since 2020 to expand college preparation and career opportunities for students from disinvested communities.
• Launched a mail-in service for responsible recycling of old electronics.
• Partnered with Joshin to support employees with disabilities and neurodivergence.

Governance Achievements

• Modified executive compensation to incorporate ESG performance.
• Named to CDP Climate A List for the sixth year.
• Rated AAA by MSCI ESG Research.
• Named to Ethisphere’s list of World’s Most Ethical Companies for the ninth year.

Climate Goals & Targets

Environmental Challenges

• Continued macroeconomic uncertainty.
• Global issue of electronic waste.
• Water scarcity.
• Reducing plastic bag usage.
• Supply chain disruptions due to COVID-19.

Mitigation Strategies

• Investments in energy-efficient equipment and renewable energy sources.
• Partnership with a B Corp-certified software provider for waste reduction.
• Transitioned to paper bags in some stores.
• Expanded Standalone Haul-Away service nationwide.
• Adapted to remote audits and virtual trainings due to COVID-19.

Supply Chain Management

Supplier Audits: 100% of private-label factories audited before business is conducted

Responsible Procurement

• Supplier Code of Conduct
• RBA membership
• Third-party audits
• Corrective action plans
• Supplier trainings

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Renewable energy investments

Reporting Standards

Frameworks Used: GRI Universal Standards, SASB, TCFD, SDGs, CDP

Certifications: ISO 14001:2015, ISO 45001 (for recycling partners), eStewards® or R2® (for recycling partners)

Third-party Assurance: Optera (Scope 1, 2, and 3 emissions)

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 4 (Quality Education)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)

Best Buy's initiatives contribute to these goals through energy efficiency, waste reduction, renewable energy, education programs, job creation, and diversity and inclusion efforts.

Sustainable Products & Innovation

• ENERGY STAR certified products
• Electric transportation products
• Electric tools
• EV charging equipment

Awards & Recognition

• ENERGY STAR Partner of the Year (10 consecutive years)
• Minnesota Ad Fed Awards (Gold and Bronze for Mentor Moments campaign)
• Golden Halo Award (for Mentor Moments campaign)

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Employee Well-being and Inclusion
• Community Engagement
• Responsible Business Practices
• Corporate Governance

Environmental Achievements

• Reduced operational carbon usage by 69% since 2009.
• Achieved 67% waste diversion in FY24 (working towards 85% by 2025).
• Reduced enterprise water usage by 17% since 2019 (achieved 2025 goal of 15% reduction).
• Achieved TRUE zero waste certification at 14 supply chain facilities.

Social Achievements

• Named #1 retailer on the JUST Capital list for investment in workers (second time receiving this distinction).
• Expanded Geek Squad Academy program, training over 2,600 youth.
• Allocated over $19 million since 2020 to expand college preparation and career opportunities for students from disinvested communities.
• Average U.S. employee training hours exceeded 30.

Governance Achievements

• Incorporated sustainability and social performance into executive compensation.
• Named to CDP Climate A List for the 7th consecutive year.
• Included in the Dow Jones Sustainability™ North America Index for the 12th year.
• Recognized as one of the 2024 World’s Most Ethical Companies® (10th time).

Climate Goals & Targets

Environmental Challenges

• Climate-related risks including impacts to revenue due to extreme weather events.
• Waste diversion rate slightly decreased due to reuse of wood pallets, decreased commodities for recycling, and updated methodology.

Mitigation Strategies

• Investing in energy-efficient equipment and renewable energy sources.
• Implementing improved processes and reporting tools to address water usage anomalies.
• Partnering with a B Corp-certified software provider to identify waste reduction opportunities.
• Implementing a new system to consolidate customer orders to reduce shipping boxes.

Supply Chain Management

Supplier Audits: 100% of potential supplier factories audited

Responsible Procurement

• Supplier Code of Conduct
• RBA membership
• Third-party audits

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (hurricanes, floods)

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Leveraging business continuity plans
• Meeting growing demand for energy-efficient technologies

Reporting Standards

Frameworks Used: GRI Universal Standards, SASB, TCFD, CDP

Certifications: ISO 14001

Third-party Assurance: Optera (limited assurance)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• ENERGY STAR certified products
• Electric transportation products
• Heat pump dryers

Awards & Recognition

• JUST Capital #1 retailer
• CDP Climate A List
• Dow Jones Sustainability North America Index
• ENERGY STAR Partner of the Year