Tractor Supply surpasses carbon emissions reduction goal
Tractor Supply Company has highlighted recent progress on its commitment to advancing its environmental, social and governance (ESG) initiatives.
The Brentwood, Tenn.-based farm and ranch retailer reported that it has reduced carbon emissions from its facilities by 29% (compared to 2015 baseline). This surpasses the company’s original target of 25% reduction in scope 1 and 2 emissions on a per square foot intensity basis by 2025, established in December 2018, five years ahead of plan.
The company has also released its inaugural report in response to the Task Force on Climate-related Financial Disclosures (TCFD), an organization established by the Financial Stability Board to promote more informed financial decisions and to improve understanding of exposure to climate-related risk.
The report is aligned with the TCFD’s recommendations for climate disclosure and includes information on Tractor Supply’s operations structured around four thematic areas of governance, strategy, risk management and metrics and targets. In the TCFD Report, the company discusses its approach to evaluating and managing climate change risks and identifying opportunities.
“At Tractor Supply, we are extremely pleased to announce we have exceeded our carbon emission reduction goal five years ahead of schedule," said Ben Parrish, EVP, general counsel and corporate secretary of Tractor Supply. Parrish also leads the company’s ESG strategy and Stewardship Program.
"Further, our TCFD report is a continuation of years of work to enhance the company’s environmental sustainability efforts and transparency around our environmental impacts,” Parrish said. “Driven by our commitment to the company’s mission and values, we continue to execute on our purpose-driven ESG efforts by evaluating and implementing policies, programs and projects that benefit all of our key stakeholders.”
Tractor Supply said that it is also committed to increasing its level of renewable energy purchased for electric consumption. The company has set a goal to substitute existing electric consumption with verifiable, renewable electric power, setting the base year at 2019 with the goal to achieve this by 2022. The target goal is to achieve a baseline of renewable energy in contracted volumes of 80 million kWh.
The company has already made progress on this target, entering into three 100% renewable energy agreements so far in 2020. These contracts provide renewable energy for Tractor Supply stores in New Jersey, New York, and Virginia. Current renewable energy under contract is 22.8 million kWh. This equates to a reduction of 16,121 metric tons of CO2 or the amount of carbon sequestered by 21,000 acres of US forest.
The retailer is also partnering with various utility companies in the United States to purchase solar energy for select store locations and to participate in community solar programs. Selected stores served by Pacific Gas & Electric are now receiving 100% solar energy, with an annual load of over 1.8 million kWh. This equates to a reduction of 1,302 metric tons of CO2 or the amount of carbon sequestered by 1,700 acres of US forest.
To learn more about Tractor Supply’s ESG efforts and view the TCFD Report, click here.
Tractor Supply operates more than 1,900 stores in 49 states along with 183 Petsense stores in 25 states.