Gap Inc

Apparel Retail

GPS

$ 10 1

Share price

$ 3.8 bn

Market Cap

$ 8.1 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.5x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

In line with the -8% weighted average for S&P 500

FY2022

Gap Inc aims to reduce Scope 1 + 2 by 90% by 2030 from a base year 2017

1.5°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.5% weighted average for S&P 500

FY2022

Gap Inc aims to achieve net zero for all Scopes by 2050

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Gap Inc reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 139 Kt (-109 /-44.1% y-o-y). Also positively, carbon intensity tumbled to 8.3 t (-9.7 /-53.9% y-o-y).

Gap Inc's Scope 3 emissions grew to 5,457 Kt (+500/+10% y-o-y). The growth rate declined vs. the previous periods (CAGR +110% since 4Q'19).

The company is committed to reducing Scope 1 + 2 by 90% by 2030 from a base year 2017, which translates into the estimated reduction of -11 Kt per annum over the period of FY2022 - FY2030. This science-based target is aligned with Paris Agreement to limit global warming to 1.5°C above pre-industrial levels.

Also, the company commits to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -193 Kt per annum over the period of FY2022 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	139	28	111	5,457	16,670	8.3
2020Q4	248	26	222	4,957	13,800	18
2019Q4	353	27	325	587	16,383	22
2018Q4	388	28	360	638	16,580	23
2017Q4	406	26	379	651	15,855	26
2016Q4	448	24	424	640	15,516	29