Best Buy

Best Buy reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 389 Kt (-12 /-3.1% y-o-y). Also positively, carbon intensity declined to 7.5 t (-1 /-11.8% y-o-y).

Best Buy's Scope 3 emissions grew to 24,182 Kt (+1,282/+5.6% y-o-y). The growth rate declined vs. the previous periods (CAGR +58% since 4Q'17).

The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2040, which translates into the estimated reduction of -20 Kt per annum over the period of FY2022 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Best Buy aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2040. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Best Buy also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. American multinational consumer electronics retailer Best Buy commits to reduce absolute Scope 1 and Scope 2 GHG emissions 50% by 2030 from a 2017 base-year. Best Buy also commits to reduce absolute Scope 3 GHG emissions from Use of Sold Products 20% by 2030 from a 2017 base-year.