April 26, 2006—In response to shareholder requests, two leading big-box retailers and the nation’s largest shopping mall company have agreed to significantly expand reporting and disclosure on energy efficiency performance, with the two big-box retailers also agreeing to discuss greenhouse gas emissions.
Investors persuaded The Home Depot in Atlanta, GA, Lowe’s in North Wilkesboro, NC, and the Simon Property Group in Indianapolis, IN, to disclose their strategies and performance on energy efficiency and climate-related topics. The three companies collectively manage more than 500 million square feet of building space and are especially vulnerable to energy costs for heating, cooling, and lighting their buildings.
Home Depot and Lowe’s have agreed to disclose information relating to the following:
- Green/renewable power consumption
- Specific information on kWh of solar power generated by the companies
- Company policies on energy efficiency
- Companies’ integrated energy management systems
- Facility operation and maintenance programs as they relate to energy efficiency
- Company views on GHG emissions
The Home Depot also agreed to discuss the following:
- How energy efficiency measures impact its bottom line
- Targets for renewable energy usage
- Targets for reducing GHG emissions or emissions intensity
- Climate change and its possible implications for the company’s operations
The resolutions are part of growing effort by leading US investors seeking more disclosure and action from US companies on the risks and opportunities they face from climate change. Many of the investors are part of the $3 trillion Investor Network on Climate Risk, an alliance of more than 50 institutional investors directed by Ceres, an investor coalition. For more on Ceres, visit the Web site.
