Retailer announces most sustainable store yet,
which will test innovations that generate renewable energy and
reduce emissions
MINNEAPOLIS, March 17,
2022 /PRNewswire/ -- Target Corporation (NYSE:
TGT) today announced its most sustainable store to date, as the
site will generate more renewable energy than it needs annually to
operate and will test multiple innovations to reduce the building's
emissions. The Vista, California,
store's retrofit and new features will inform Target's investments
in new stores and remodel programs that support its long-term
growth and help guide the retailer's efforts to achieve its
sustainability goals.
The store will generate renewable energy through 3,420 solar
panels across its roof and newly installed carport canopies. The
site is expected to produce up to a 10% energy surplus each year
that it can transmit back to the local power grid, and
Target has applied for net zero energy certification from the
International Living Future Institute. The building also
features elements to further reduce emissions, such as powering its
HVAC heating through rooftop solar panels, instead of natural gas.
Additionally, the store switched to carbon dioxide refrigeration, a
natural refrigerant, that Target will scale chain-wide by 2040 to
reduce its direct operations' emissions by 20%.
"We've been working for years at Target to shift toward sourcing
more renewable energy and further reducing our carbon footprint,
and our Vista store's retrofit is
the next step in our sustainability journey and a glimpse of the
future we're working toward," said John
Conlin, senior vice president of properties, Target.
"Our new stores and remodel programs are designed to help achieve
our sustainability goals as we test, learn and scale our
innovations over time across our operations."
Sustainability Efforts Underway
Target is building on the many ways it innovates through
its stores and facilities to support the company's sustainability
strategy Target Forward. The retailer has committed to achieve net
zero greenhouse gas emissions enterprise-wide by 2040, and since
2017 Target has already reduced its direct operations' emissions by
nearly 27%. One of the ways it intends to reach its net zero goal
is through sourcing 100% of its electricity from renewable sources
for its operations by 2030.
- Progress in action: Target's offsite solar and wind
energy contracts are helping the company move quickly toward its
renewable energy goal, as it has secured additional partnerships
that will allow it to purchase nearly half of its electricity from
renewable sources later this year. Target also conserves 10% of its
stores' total energy use by using LED lighting instead of
conventional lighting.
- Industry leader: Target continues to be a retail leader
in solar with more than 25% of its facilities with rooftop solar,
helping the company save millions annually in energy costs and
reducing its emissions. Its Vista
store is one of 542 Target buildings nationwide with solar
installations, and the Solar Energy Industries Association (SEIA)
recognizes Target as the top U.S. Corporate Onsite Installer with
255 megawatts of energy.
- Ongoing investments: The recycling, donations and
composting operations at the Vista
store, alongside Target's other facilities, support the retailer's
goal to divert 90% of its U.S. operations' waste away from
landfills by 2030 as it aims for Zero Waste certification. Target
is already diverting 80% of its operational waste. Additionally,
the Vista site offers electric
vehicle charging spaces, as the retailer provides more than 1,350
spaces at over 150 locations across more than 20 states.
"Target continues to be a top corporate solar user, and we're
excited to see Target double down on its clean energy commitments
with new solar carports and energy efficient buildings through this
innovative and sustainable retrofit," said Abigail Ross Hopper, president and CEO,
Solar Energy Industries Association (SEIA). "We commend the Target
team for their leadership and commitment to sustainable operations
as the retailer continues to raise the bar for how companies can
invest in their business and create a more sustainable future."
Miscellaneous
Statements in this release regarding Target's future
investments in new stores and remodel programs, expected results of
its renewable energy and emission reduction activities, and
expectations regarding its sustainability strategy and commitments
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to risks and uncertainties which could cause Target's
actions to differ materially. The most important risks and
uncertainties are described in Item 1A of Target's Form 10-K for
the fiscal year ended Jan. 29, 2022.
Forward-looking statements speak only as of the date they are made,
and Target does not undertake any obligation to update any
forward-looking statement.
About Target
Minneapolis-based Target
Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at
Target.com, with the purpose of helping all families discover the
joy of everyday life. Since 1946, Target has given 5% of its profit
to communities, which today equals millions of dollars a week.
Additional company information can be found by visiting the
corporate website and press center and by following
@TargetNews.
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SOURCE Target Corporation