The Home Depot Releases ESG Report Details
In today’s world, every big business had better be ready to report on how well they manage their operations with regard to the environment, society (social involvement) and governance. On July 28th, The Home Depot released its report about the progress its made and/or its support for these performance pillars.
The Home Depot reported that it has proven its focus on people – and by “people” they specifically mean employees – stating that 90% of their store leadership first started with the company as hourly associates. Such demonstrates that they reward performance and promote from within regularly. Further they report having paid out approximately $739 million in bonus checks to non-management employees to date. While it’s not uncommon for companies to pay out fat bonuses to executives, to have non-management employees paid bonuses is notable.
With a focus on environmental consciousness, The Home Depot reports having reduced their Scope 1 and Scop 2 carbon emissions by 172,000 metric tons which they equate to removing more than 37,000 cars off the road for a year. From a single company, that’s impressive. Additionally they report having reduced their electricity consumption by 50% in their U.S. based stores since 2010. It’s unclear, without further analysis, if that’s a reduction of 50% from the grid or 50% overall. However, if it’s 50% from the grid, that’s truly impressive – a reduction by HALF.
On the societal support side, The Home Depot Foundation – the corporation’s charitable arm – reports contributing more than $400 million to veteran causes since 2011. That’s over $35 million average per year and is an indication of the value The Home Depot puts on our service veterans. Given how many veterans are also employed by The Home Depot, the company clearly demonstrates its care and concern for the veteran population. Embracing a younger focus as well, The Home Depot Foundation’s “Retool Your School” grant program has helped to fun over 100 projects benefitting 65% of Historically Black Colleges & Universities.
The complete report can be read online BY CLICKING HERE.