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:
- A comprehensive inventory development of their Scope 3 footprint;
- Modelling both the requirements of targets and options, as well as initiatives (existing and proposed) required to reach the target; and
- Submitting and supporting the SBTi validation process.
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.
- Target will reduce its absolute scope 1, 2 and 3 greenhouse gas emissions by 30% below 2017 levels by 2030.
- Target is also committing that 80% of their suppliers will set science-based reduction targets on its scope 1 and 2 emissions by 2023.