Home – Case Studies – Developing Scope 3 Science-based Targets for Target
Developing Scope 3 Science Based Targets for Target
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Home – Case Studies – Developing Scope 3 Science-based Targets for Target
Building on its operational scope 1 and 2 emissions reduction goals, Target needed to develop its first full scope 3 emissions inventory, evaluate and then set a science-based target (SBT) to fulfil the requirements of its SBTi commitment.
Target achieved an industry-leading 30% absolute emissions reduction by 2030 and engaged 80% of suppliers in setting science-based targets by 2024.
Building on its operational scope 1 and 2 emissions reduction goals, Target needed to develop its first full scope 3 emissions inventory, evaluate and then set a science-based target (SBT) to fulfil the requirements of its SBTi commitment. Anthesis was selected as the consulting partner to guide Target through this process leading to an industry leading 30% absolute emissions reduction by 2030 and a supplier engagement target.
The work included:
Anthesis continues to partner with Target through the implementation phase: providing subject-matter expertise to direct existing programs and launch new initiatives across its supply chain in key product impact areas (apparel, grocery, home & hard goods), program management of Target’s initiatives and workstreams, and supporting the roll out of Target’s ambitious supplier engagement program to get 80% of its suppliers by spend to set their own science-based targets by 2024.
Target’s SBT is seen as leading in the retail industry particularly given the ambition of its target (aligned with a well-below 2 degrees scenario) and the breadth of its product portfolio and global reach of its supply chain. The SBT is enabling Target to take decisive and comprehensive action on climate change by tackling key hotspots and areas of opportunity with their suppliers. They have prioritised initial workstreams in apparel, grocery, and home and hard goods as a result while simultaneously launching a supplier engagement and capacity building program for hundreds of its largest suppliers.