Kingfisher is taking a proactive stance on environmental sustainability by setting clear decarbonization targets for its suppliers. The company’s initiative is designed to address the substantial scope 3 emissions that arise from its extensive supply chain. To facilitate this, Kingfisher is leveraging the cloud-based emissions data platform, Manufacture 2030, to assist vendors in understanding and managing their emissions effectively.
Tiered Targets for Vendors
The company has stratified its sustainability targets into three distinct levels, reflecting the varying impact of vendors on Kingfisher’s overall scope 3 emissions. The top 100 vendors, identified as having the most significant emissions footprint, are expected to develop a Science Based Targets initiative (SBTi) roadmap and set a decarbonization target by 2028. The subsequent 450 vendors are required to align with SBTi and establish a decarbonization goal by 2030, while all other vendors must formulate a climate reduction plan by the same year.
Progress and Partnerships
Kingfisher’s efforts have already yielded a nearly 42% reduction in scope 3 emissions in 2023/2024, surpassing its initial goal of a 40% reduction by 2025. This achievement underscores the company’s commitment to sustainability and the effectiveness of its strategies. Furthermore, Kingfisher has established the Global Home Improvement Suppliers’ Scope 3 Taskforce, which includes industry leaders such as Bosch, 3M, and Positec, to foster collaboration and accelerate progress towards net-zero emissions.
Industry Commitment to Emission Reduction
Despite regulatory shifts, such as the Securities and Exchange Commission’s rollback on scope 3 reporting requirements, Kingfisher and other companies remain steadfast in their dedication to minimizing their carbon footprints. Initiatives like the Automotive Climate Action Questionnaire and Walmart’s Project Gigaton highlight the broader industry’s commitment to improving scope 3 emissions reporting and achieving substantial environmental impact reductions.
