The TJX Companies, Inc. Announces New Global Environmental Goals, Including a Plan to Achieve Net Zero Emissions in its Own Operations by 2040
New goals focus on climate change, renewable energy, waste, and product packaging, demonstrating Company’s continued commitment to environmental sustainability
FRAMINGHAM, Mass.–(BUSINESS WIRE)–The TJX Companies, Inc. (NYSE: TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, today announced plans to expand and accelerate environmental goals as part of the Company’s ongoing environmental sustainability strategy.
As part of its global efforts, TJX is aiming to:
- Achieve net zero greenhouse gas (GHG) emissions in its operations by 2040
- Source 100% renewable energy in its operations by 2030
- Divert 85% of its operational waste from landfill by 2027
- Shift 100% of the packaging for products developed in-house by its product design team to be reusable, recyclable, or contain sustainable materials by 2030
“For 45 years, TJX’s mission of delivering great value to our customers every day has gone hand-in-hand with our commitment to act as a responsible corporate citizen, invest in our Associates and our communities, and operate our business ethically,” said Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc. “I am so pleased with all we have accomplished over the years, and we are by no means done. These new environmental sustainability goals are important to us in terms of our work to mitigate our impact on the environment. We look forward to continuing to enhance our programs and reporting as we move forward.”
These commitments expand upon the work the Company has been engaged in and build on its environmental priorities of reducing its emissions and energy usage, managing waste, and sourcing responsibly. In June 2020, after exceeding its previous GHG emissions reduction goal, TJX set a science-based target in alignment with the United Nations’ Paris Agreement guidelines: a 55% absolute reduction in GHG emissions from direct operations by Fiscal Year 2030, against a Fiscal Year 2017 baseline. The Company plans to continue to report against this target on its path toward its net zero emissions goal in its operations. TJX has responded to the CDP Climate Change Questionnaire for 12 consecutive years, most recently earning an A- for its 2021 disclosure.
Environmental Sustainability is one of four key pillars of TJX’s Corporate Responsibility efforts, which also includes Workplace, Communities, and Responsible Business. To learn more about TJX’s new environmental goals and our work and progress in this area from Fiscal 2021, please visit www.tjx.com/responsibility/environment/.
About The TJX Companies, Inc.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of January 29, 2022, the end of the Company’s fiscal year, the Company operated a total of 4,689 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and five e-commerce sites. These include 1,284 T.J. Maxx, 1,148 Marshalls, 850 HomeGoods, 59 Sierra, and 39 Homesense stores, as well as tjmaxx.com, marshalls.com, homegoods.com, and sierra.com, in the United States; 293 Winners, 147 HomeSense, and 106 Marshalls stores in Canada; 618 T.K. Maxx and 77 Homesense stores, as well as tkmaxx.com, in Europe; and 68 T.K. Maxx stores in Australia. TJX’s press releases and financial information are available at TJX.com.
Important Information at Website
The Company routinely posts information that may be important to investors in the Investors section at TJX.com. The Company encourages investors to consult that section of its website regularly.
Forward-looking Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in this release are forward-looking and involve a number of risks and uncertainties. All statements that address activities, events, or developments that we intend, expect or believe may occur in the future are forward-looking statements, including, among others, statements regarding the Company’s business plans and prospects and targets, goals, or commitments related to environmental sustainability, emissions reductions, energy usage, waste management, product packaging, and sourcing. The following are some of the factors that could cause actual results to differ materially from the forward-looking statements: the COVID-19 pandemic; execution of buying strategy and inventory management; customer trends and preferences; competition; various marketing efforts; operational and business expansion; management of large size and scale; merchandise sourcing and transport; labor costs and workforce challenges; personnel recruitment, training and retention; data security and maintenance and development of information technology systems; corporate and retail banner reputation; cash flow; expanding international operations; fluctuations in quarterly operating results and market expectations; mergers, acquisitions, or business investments and divestitures, closings or business consolidations; real estate activities; inventory or asset loss; economic conditions and consumer spending; changes in economic conditions; serious disruptions or catastrophic events; disproportionate impact of disruptions in the final quarter of the fiscal year; commodity availability and pricing; adverse or unseasonable weather; fluctuations in currency exchange rates; compliance with laws, regulations and orders and changes in laws, regulations and applicable accounting standards; outcomes of litigation, legal proceedings and other legal or regulatory matters; quality, safety and other issues with our merchandise; tax matters; and other factors that may be described in our filings with the Securities and Exchange Commission. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized.
Contacts
The TJX Companies, Inc.
Erika Tower
Global Communications
(508) 390-2323
