Target Outlines Bold New Sustainability Strategy

Minneapolis — Target Corporation has unveiled Target Forward, the company’s new sustainability strategy that builds on the retailer’s legacy of corporate responsibility and sustainable practices.

“As a company and a member of the global community, it’s imperative for both the health of our business and of our planet that we embrace new ways to move forward,” says Brian Cornell, chairman and chief executive officer of Target. “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 commitments Target is making work toward three critical ambitions: to design and elevate sustainable brands, innovate to eliminate waste, and accelerate opportunity and equity.

Signature goals include:

  • By 2030, Target aims to be the market leader for creating and curating inclusive, sustainable brands and experiences.
  • 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.
  • By 2040, Target commits to being a net zero enterprise — zero waste to landfill in its U.S. operations and net zero emissions across both its operations and supply chain, inclusive of scopes 1, 2 and 3.
  • 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.
  • Target and the Target Foundation will become even more deeply ingrained within communities, lifting up the voices and unique perspectives of community members to maximize the positive impact they can create together.

“We want our guests to turn to Target first when they think about sustainability,” says Amanda Nusz, senior vice president of corporate responsibility, Target, and president of the Target Foundation. “We know that the only way to make that possible is by putting both people and the planet at the center of our efforts, as we co-create with our guests, our partners and the communities we serve.”

Efforts already underway include:

  • In 2019, Target set science-based targets for emissions reductions across scopes 1, 2 and 3 — becoming a leader in U.S. retail — and Target also committed to join the “Business Ambition for 1.5°C,” ensuring that its emissions will contribute to no more than 1.5 degree warming.
  • Target has projects and partnerships in place that when complete, will result in purchasing nearly 50% of its electricity from renewable sources, well on its way to 100% by 2030.
  • Circular design principles can be seen in Target’s owned brands such as Universal Thread and Everspring, and Target accelerated its commitments to sustainable packaging in 2018 when it became a signatory to the New Plastics Economy Global Commitment.
  • In 2020, Target invested $1 billion more in the health, safety and wellbeing of its team members, including the move to an industry-leading starting wage of $15 in the U.S.
  • Target’s Racial Equity Action and Change (REACH) committee was established in 2020 and accelerates the retailer’s work to create racial equity for Black team members, guests and communities. REACH builds on 15 years of progress in creating a diverse workforce, and setting diversity and inclusion goals for Target’s team and business.

For more information, visit www.Target.com/targetforward.

Minneapolis-based Target Corporation serves guests at nearly 1,900 stores and at www.Target.com.

 

 

 

SOURCE: Target Corporation

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