Climate Change Data

Best Buy Co., Inc.

Climate Impact & Sustainability Data (2021)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:22,900,000 tCO2e/year (Scope 3)
Scope 1 Emissions:246,895 tCO2e/year
Scope 2 Emissions:154,284 tCO2e/year
Scope 3 Emissions:22,899,369 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:780,913 MWh/year
Water Consumption:961,000 m3/year
Waste Generated:42,000,000 lbs/year (landfilled)
Carbon Intensity:Not disclosed

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
  • Reduced 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
  • Achieved a perfect rating of 100 on the Human Rights Campaign (HRC) Corporate Equality Index for the 16th year
  • Named to Ethisphere’s list of World’s Most Ethical Companies for the seventh year

Climate Goals & Targets

Long-term Goals:
  • Carbon neutral across our business by 2040
Medium-term Goals:
  • Reduce carbon emissions by 75% by 2030 (over 2009 baseline)
  • Reduce customers’ carbon emissions by 20% by 2030, saving $5 billion in utility costs
Short-term Goals:
  • Reduce water use 15% by 2025

Environmental Challenges

  • Finding viable electric vans and trucks for in-home appointments and deliveries
  • Potential rebound in water usage as business operations return to pre-pandemic levels
  • Supply chain disruptions due to the COVID-19 pandemic
  • Addressing racial and social inequity
Mitigation Strategies
  • Joined the Corporate Electric Vehicle Alliance
  • Implementing water reduction strategies
  • Developed alternative sourcing strategies and remote audit options
  • Formed a company-wide Task Force for Racial Equity
  • Implemented various safety procedures to ensure employee and customer safety during the pandemic

Supply Chain Management

Supplier Audits: 140/year

Responsible Procurement
  • Supplier Code of Conduct
  • RBA membership

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, 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.

Sustainable Products & Innovation

  • ENERGY STAR certified products
  • EPEAT registered products
  • 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)