Big-box retailer Lowe’s released its 2022 Corporate Responsibility Report, outlining the company’s goals and achievements in areas such as sustainability, community and employee engagement.
The company reported a 49% reduction in scope 1 and 2 greenhouse gas emissions since 2016, a 6% reduction in total energy consumption since 2021 and 86% of Lowe’s suppliers have set sustainability goals.
Since 2018, the company has invested over $400 in local communities, surpassing the company’s goal of investing $350 million by 2025. Lowe’s filled over 80% of leadership positions from within in 2022 and awarded more than $580 million in bonuses to frontline associates.
“This report demonstrates Lowe’s two decades of leading by example, making decisions that are good for our business and good for our planet,” says Chris Cassell, Lowe’s vice president, corporate sustainability. “We’re in a unique position to help customers live more sustainably through our products and supplier relationships. It’s going to take strong collaboration, and we will continue to share updates along the way.”
Other highlights from the report included an announcement of the launch of Lowe’s Hometowns, a five-year, $100 million initiative designed to improve and revitalize communities across the U.S. and Lowe’s being named to the Dow Jones Sustainability Index for North America for the fourth consecutive year.
“At Lowe’s, we take pride in being one of the most trusted brands in America, and I’m grateful for the 300,000 associates whose hard work and dedication make that possible,” says Marvin Ellison, Lowe’s chairman and CEO. “We have a responsibility to the customers and communities we serve, and this report not only reflects our efforts and advancements but also our culture of continuous improvement.”