Environmental Sustainability
We maintain our leadership role in addressing climate change. We have achieved
significant progress toward our carbon emissions reduction goal of 75% by 2030 (over a 2009 baseline), from both operational reductions and renewable sourcing. We are committed to being carbon neutral across our operations by 2040. As of the end
of fiscal 2023, we have invested in five solar fields, helping to accelerate the progress towards our carbon reduction goals.
We have a goal to help our customers reduce carbon emissions by 20% by 2030 (over a 2017
baseline), which we estimate will save them $5 billion on utility bills by putting greater emphasis on ENERGY STAR® electronics, appliances and other energy saving devices.
Additionally, water and waste reduction are important facets of our environmental
strategy across our operations. We have set goals to achieve 85% waste diversion and 15% water reduction by 2025 (over a 2019 baseline).
We are driving the circular economy forward by influencing the sustainable design and
material sourcing for products and packaging, providing product repair and trade-ins, responsibly recycling, and reducing waste in our operations and for our customers. We continue to operate the most comprehensive consumer electronics and
appliances takeback program in the U.S. In fiscal 2023, we collected more than 183 million pounds of consumer electronics and appliances for recycling, bringing our total to more than 2.7 billion pounds.
In support of our efforts to drive forward the circular economy, we achieved zero waste
TRUE certification at three supply chain facilities in fiscal 2023, bringing our total to four certified facilities. We plan to expand certifications to additional locations in fiscal 2024 to help achieve our waste diversion goal.
We are proud to be named to the CDP Climate A List for the sixth consecutive year, which
recognizes the top companies worldwide impacting climate change, as well as transparency in reporting. In addition to CDP, Best Buy utilizes the Task Force on Climate-Related Financial Disclosures (TCFD) framework to report climate data. This can
be found in our fiscal 2022 ESG Report.
Human Rights and Responsible Sourcing
We are committed to respecting and advancing human rights through our alignment with the
United Nations Guiding Principles on Business and Human Rights. Further, across all of the products and services we procure, we seek to mitigate risk, enhance the partnership with our suppliers and create value for all stakeholders through our
Responsible Sourcing Program. We are active members of the Responsible Business Alliance, which allows us to partner with many of the brands we sell, including Apple, Intel, Microsoft and Samsung. Collectively, we embrace a common Supplier Code
of Conduct and audit methodology that creates business value by improving working and environmental conditions in the supply chain. Our Responsible Sourcing Program has expanded from only private label manufacturing to certain branded vendors, as
well as indirect vendors.
Community Impact
The Best Buy Foundation (the “Foundation”) is committed to supporting teens from
disinvested communities in building brighter futures through technology, training, and mentorship. The Best Buy Teen Tech Center program is the Foundation’s signature initiative – providing a network of safe afterschool spaces where teens can
develop critical skills through hands-on activities with cutting-edge tech. Teens can explore their interests in a variety of areas, such as software engineering, filmmaking, 3D design and music production. Teens gain exposure to new career
possibilities and benefit from positive adult and peer relationships. In fiscal 2023, the Foundation supported a network of 52 Best Buy Teen Tech Center locations with a goal of supporting 100 locations by 2025.
In fiscal 2023, Best Buy customers gifted nearly $7.5 million in tax-deductible
donations to the Foundation in support of Teen Tech Centers while making a purchase at Best Buy stores, BestBuy.com, or the Best Buy app.
Diversity, Equity & Inclusion
We are creating more equitable opportunities and an inclusive culture for our employees,
customers and communities. In fiscal 2021, we set employee diversity goals to be attained by 2025 and affirm our commitment to continued progress.
