Target sets ambitious new sustainability goals
Target Corp. unveiled a comprehensive new sustainability strategy whose goals include sourcing 100% of its electricity from renewable sources by 2030 and having all of its owned brands’ plastic packaging be recyclable, compostable or reusable by 2025.
The discounter said its new Target Forward strategy puts its business to use “to positively impact both people and the planet” and builds on the company’s legacy of corporate responsibility and sustainable practices. For a video on the program, click here.
In one of the signature goals of the new initiative, Target has committed to being a net zero enterprise by 2040, which means it will create zero waste for landfills at its U.S. operations and have net-zero emissions across its operations and supply chain. Initial goals include sourcing 60% of its electricity from renewable sources by 2025 and 100% by 2030, and engaging suppliers to prioritize renewable energy and collaborate on solutions that protect, sustain and restore nature by 2025. By 2030, Target intends to divert 90% of its waste from landfill through reuse, recycling, donation and reduction strategies.
“As a company and a member of the global community, it’s imperative for the health of both our business and our planet that we embrace new ways to move forward,” said Brian Cornell, Target chairman and CEO. “We know sustainability is tied to business resiliency and growth, and that our size and scale can drive change that is good for all. Target Forward influences every corner of our business, deepens our collaboration with our partners and builds on our past efforts to ensure a better future for generations to come.”
The other signature goals of the new strategy are listed below.
• By 2030, Target aims to be the market leader for creating and curating inclusive, sustainable brands and experiences. The retailer intends for the leading raw materials (such as forest products, cotton and more) that go into its owned-brand products to be 100% percent recycled, regenerative, or sustainably sourced.
• By 2040, Target plans for 100% of its owned brand products to be designed for a circular future. Target’s teams will continue designing to eliminate waste, using materials that are regenerative, recycled or sourced sustainably, to create products that are more durable, easily repaired or recyclable. As a first step, by 2025, Target aims to offer two circular owned brands.
• By 2025, Target plans for 100% of suppliers to have policies and programs to advance gender equity.
• By 2030, Target aims to build a team that equitably reflects the communities it serves, beginning with its commitment to increase Black team member representation across the company by 20% by 2023.