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Lowe’s: Greenhouse Gas Emissions in 2021

Industry: Home Improvement And Gardening Supplies Specialists
Current: ESG

Lowe’s total GHG emissions were 1,552 thousand tonnes of CO2 equivalents in 2021
In 2021, Lowe’s Scope 1 emissions were around 573 thousand tonnes of CO2 equivalents
Lowe’s has set a target to reduce Scope 1 and 2 emissions by 60% by 2030

Lowe’s Greenhouse Gas Emissions

Greenhouse gas (GHG) emissions are one of the major causes of rising global warming. CO2, Methane & NOx gases form a major part of greenhouse gases released from fossil fuels such as oil and gas. Due to rising GHG emissions from the operations of companies, it became important among major contributing sectors to report GHG emissions during their operations.

Several retailers, including Walmart, already measure their carbon footprints and climate change programs. Retailers generate a significant portion of their carbon footprint in their stores. Heating, lighting, air conditioning, ventilation, cooking, and refrigeration are the main factors for a retail outlet's carbon emissions.

Lowe's Companies Inc (Lowe’s) is a retailer of home improvement products. The company’s product portfolio includes kitchen appliances, building materials, tools and hardware, and lawn and garden. The company offers products under various private brand names such as Kobalt, allen+roth, Project Source, Utilitech, Reliabilt, and Harbor Breeze.

The total GHG emissions of Lowe’s in 2021 were 1,552 thousand tonnes of CO2 equivalents, a decrease of 18% over 2020.

GHG emissions are generally classified into Scope 1,2 & 3 emissions. Scope 1 includes direct GHG emissions from stationary fuel combustion and refrigerant gases. Scope 2 encompasses indirect GHG emissions from the on-site generation and purchase of electricity. Scope 3 involves all other indirect GHG emissions in the company’s value chain.

In 2021, Lowe’s Scope 1 emissions were 573 thousand tonnes of CO2eq, and Scope 2 emissions were 979 thousand tonnes of CO2eq. Scope 3 emissions were not reported by the company.

Lowe’s has set a target to reduce Scope 1 and 2 emissions by 60% by 2030.

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