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March 29, 2022

Foot Locker eyes net zero GHG emissions by 2050

Foot Locker has pledged to achieve net zero greenhouse gas (GHG) emissions by 2050 or sooner and to setting a science-based target in line with the criteria established by the Science Based Target initiative (SBTi).

By Beth Wright

US specialty athletic retailer Foot Locker says its ambition to achieve net zero GHG emissions by 2050 or earlier is in alignment with climate scientists’ recommendations to transition toward a net zero state and avoid the worst impacts of climate change.

It adds the commitment marks an important milestone in its environmental, social, and governance (ESG) journey. As the company looks to fiscal 2022 and beyond, it is committed to building on this progress and strengthening its vision for a more sustainable world, it says.

Answering the call to limit the global temperature rise to 1.5 degrees Celsius, as well as feedback from stakeholders, Foot Locker commits to setting a
science-based target in line with the criteria established by the Science Based Target initiative (SBTi), the business notes.

Foot Locker will report its progress against certain metrics regarding its GHG emissions annually in its Impact Report which is aligned with the reporting disclosure guidance of the Sustainability Accounting Standards Board (SASB) industry standards and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

“Foot Locker, Inc is committed to helping our planet remain a sustainable home for current and future generations,” says CEO Richard Johnson. “Unabated climate change presents risks for our business, industry, and society, but through climate stewardship, we may unlock opportunities to innovate and strengthen our relationships with our customers and the communities we serve.”

Foot Locker expects its next Impact Report to be published this autumn.

Johnson recently hailed a record year for Foot Locker which saw the company report net income of US$893m, compared with $323m in fiscal 2020. Fiscal year comparable-store sales increased by 15.4%, while total sales of $9bn increased by 18.7%.

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