DECEMBER 7, 2015: Home Depot, the world’s largest hardware retailer, has established and recently published its first set of renewable energy goals. In its 2015 Sustainability Report the company has committed to produce 135MW of renewable energy annually. 100MW will come from wind and solar, and 35MW from fuel cells.
Home Depot has joined a growing number of companies who are procuring renewable energy to power their businesses in an economic way. Home Depot’s report also includes goals to improve energy efficiency.
“In setting – and ultimately reaching – their renewable energy goals, Home Depot will reduce emissions while also reducing the company’s exposure to volatile energy prices,” said Brianna Murphy, Trillium’s Vice President Shareholder Advocacy and Corporate Engagement. “The company’s leadership on the issue has the possibility of driving significant change in the demand and consumption of clean energy.”
Earlier this year, Trillium and Zevin Asset Management co-filed and successfully withdrew a shareholder proposal with Home Depot on the issue of renewable energy. We commend the Home Depot for their valuable engagement on this important issue.
Important disclosure: The information provided in this material should not be considered a recommendation to buy or sell the security mentioned. It should not be assumed that investments in such security has been or will be profitable. To the extent a specific security is mentioned, it was selected by the authors on an objective basis to illustrate views expressed in the commentary and it does not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.