We love watching America’s business leaders use their economic might for the good of our nation’s citizens, and as we wrote about last year, two of our top retailers continue to forge ahead in the name of clean energy innovation.
Over this past year, Target and Walmart have once again both been pushing for more clean energy across their considerable operations, perhaps engaging in a bit of friendly competition to benefit consumers and the environment.
On June 12, Target announced they are committing to source 100 percent of their electricity from renewables by 2030. The new announcement builds on their previous climate goals and represents an increased focus from brick-and-mortar retailers, who have plenty to lose from damaging climate impacts in areas where they do business.
The new environmental goal will be largely accomplished through renewable power purchase agreements with private firms who specialize in power sources like wind and solar. These purchasing agreements help smaller renewable energy companies to get off the ground faster and gain a better foothold in energy markets.
“At Target, we’ve been on a multi-year journey to operate our facilities more sustainably, and setting this ambitious goal is an important milestone,” said John Leisen, vice president, property management, Target. “We’re proud of the work we’ve already done with renewable energy in our stores, and we’ll continue to explore more opportunities and partnerships to realize this goal.”
Walmart is also expanding their renewable capabilities with 46 new power purchase agreements and leases. These new arrangements will see solar developments provide power to Walmart operations in five states.
The additional solar energy will go a long way toward securing the retail giant’s goal of powering 50 percent of their operations with renewables by 2025. Over 65,000,000 kWh of renewable energy is expected to come from the new agreements, which will supply anywhere from 10 to 60 percent of each store’s electricity.
“Solar is a vital component of Walmart’s expanding renewable energy portfolio,” said Mark Vanderhelm, vice president of energy for Walmart Inc. “Walmart plans to tirelessly pursue renewable energy projects that are right for our customers, our business and the environment.”
Target and Walmart are just a few business leaders who have turned toward renewables as a way to optimize energy use, protect business assets from future climate devastation, and enact corporate responsibility on a wider scale.