Home Depot Announces Latest Carbon Emission Reductions
Friday, July 29th, 2022
The Home Depot reduced its combined Scope 1 and 2 carbon emissions by approximately 172,000 metric tons in 2021, equivalent to taking more than 37,000 cars off the road for a year. The company reduced its electricity consumption by approximately 11 percent year-over-year in U.S. stores – while at the same time opening five new stores – and cut U.S. store electricity usage by 50 percent since 2010.
These and other highlights are included in The Home Depot's 2022 ESG Report, which provides updates on the company's progress centered around three environmental, social and governance (ESG) pillars: focusing on our people, operating sustainably, and strengthening our communities.
The Home Depot paid record Fiscal 2021 Success Sharing bonuses to non-management associates of approximately $739 million. The company's U.S. associate base was once again more ethnically diverse than the U.S. working population; approximately 36 percent of its new hires were women, and more than 57 percent were ethnically diverse in 2021. The Home Depot spent $3.3 billion with Tier I diverse suppliers in 2021 and announced a goal to spend $5 billion annually by 2025.
The Home Depot Foundation crossed a milestone of more than $400 million contributed to veterans' causes since 2011, while also making meaningful progress on its skilled trades training initiatives and responding to communities struck by natural disasters during the year.
"Our team knows that an effective ESG strategy works best when we all work together – our associates, nonprofit partners and supplier partners – to generate the most positive impact possible," said Ted Decker, CEO and president of The Home Depot. "The progress we've made in focusing on our people, operating sustainably and strengthening our communities is a testament to the hard work and dedication of our associates. I want to thank them and all our partners for their commitment to helping us do our part to take care of our customers, communities and each other."
Additional Fiscal 2021 highlights around The Home Depot's three ESG pillars include:
Focusing on People
Awarded approximately $230 million in grants to approximately 164,000 associates since 1999 through its internal associate support program, The Homer Fund
Completed its goal to launch a Tier II supplier diversity program to encourage its suppliers to spend more with diverse businesses
Increased the representation of female and underrepresented minority groups across its managers and above population in the U.S.
Approximately 90 percent of U.S. store leaders started as hourly associates
In 2021, The Home Depot estimates that customer purchases of Energy Star products helped reduce annual electricity use by 7 billion kilowatt hours, saving $950 million on energy costs, and lowering carbon emissions by 4.9 million metric tons
The company estimates that water-saving products sold at The Home Depot helped customers reduce consumption by over 66 billion gallons in 2021
Eliminated 1.1 million square feet of PVC film by redesigning its private label packaging in Fiscal 2021 – enough to cover 19 football fields
Completed a multi-year project to convert U.S. stores to LED overhead lighting
Committed to participating in the CDP Forests Questionnaire
The Home Depot Foundation achieved the milestone of 10 years of its commitment to support the U.S. military veteran community, while also surpassing $400 million contributed to veterans' causes
In 2021, approximately 14,000 associates volunteered in communities across 150 cities nationwide through Team Depot, The Home Depot's associate volunteer force
Since 2011, Team Depot has volunteered more than 1.25 million service hours to veterans' causes
The Home Depot Foundation committed more than $7 million in 2021 to help communities impacted by natural disasters
Since 2009, the company's "Retool Your School" grant program has helped fund more than 100 campus beautification projects benefitting 65 percent of historically black colleges and universities (HBCU's)