The Home Depot Releases 2023 ESG Report
The Home Depot, Inc.
The Home Depot has unveiled its highly anticipated 2023 ESG Report, offering a comprehensive overview of the company's strides in environmental, social, and governance (ESG) domains.
Under its three central pillars—Focus on our People, Operate Sustainably, and Strengthen our Communities—the company has achieved remarkable progress, benefitting its workforce, customers, localities, and the planet as a whole.
Ted Decker, Chair, President, and CEO of The Home Depot, expressed the company's commitment to responsible and sustainable practices since its inception, fostering a robust and agile business model that consistently delivers exceptional outcomes.
One of the notable accomplishments in 2022 was the reduction of Scope 1 and 2 carbon emissions by an impressive 92,000 metric tonnes, equivalent to removing more than 20,000 cars from the roads for a year.
Additionally, The Home Depot has set ambitious carbon reduction targets for Scope 1, Scope 2, and Scope 3 "Use of Products Sold" emissions, reaffirming its dedication to combatting climate change.
Recognising its environmental impact through product sales, The Home Depot envisions a future where over 85% of outdoor power equipment sales in the U.S. and Canada will be rechargeable battery-powered, minimising reliance on traditional gas-powered tools.
Moreover, the company aims to promote energy-saving products and water-efficient solutions, reflecting its commitment to sustainability and customer satisfaction by 2026.
In fostering an exceptional associate experience, The Home Depot continues to prioritise engagement, compensation, safety, and training. As part of its unwavering commitment to employee development, the company plans to allocate an impressive 10 million hours for skill development among frontline associates and 2.5 million hours for leadership training by 2028.
The Home Depot's positive influence extends well beyond its operations, as demonstrated by The Home Depot Foundation's commendable contributions to veteran causes.
With over $450 million contributed since 2011, the foundation has actively supported skilled trades training, disaster relief efforts, and community projects. In 2022, a staggering $82 million in grants were disbursed, underscoring its unwavering focus on uplifting the communities where it operates.
The foundation's future plans include investing $50 million in training skilled tradespeople, including veterans, to address the skilled labour shortage and empower more individuals with valuable expertise.
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