Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data
Costco to set new emission cut targets in deal with activist firm
© Reuters. FILE PHOTO: A sign is seen outside a Costco Wholesale store in Glenview, Illinois, U.S. May 24, 2016. REUTERS/Jim Young/File Photo
By Ross Kerber
(Reuters) - Costco Wholesale Corp (NASDAQ:COST) will set new targets by next year to cut its greenhouse gas emissions, according to an activist investment firm that said the retailer had been a laggard on climate matters.
Rivals including Walmart (NYSE:WMT) Inc and CVS Corp already have targets to cut their own emissions and those from their supply chains and customer bases, or have plans to set such goals.
Costco's new approach "shows that the company is starting to treat climate change with the gravity that the issue – and shareholders – demand," said Leslie Samuelrich, president of Green Century Capital Management, which had pressed for the change and described the company's new position in a statement.
"Costco is no longer a laggard among its peers," she added.
A representatives for Costco, based in Washington State, declined to comment.
The world must cut global carbon emissions to net zero by 2050 to meet the goals of the 2015 Paris Agreement to limit the global average temperature rise to well below 2 Celsius above pre-industrial levels.
At Costco's annual meeting last January, 70% of votes backed a Green Century resolution to adopt emission cuts.
Green Century withdrew a similar resolution meant for Costco's next shareholder meeting in exchange for the forthcoming targets, yet to be described in detail, a representative for the Boston-based firm said.
Costco in July had already set targets for reducing so-called Scope 1 emissions from direct sources like its warehouse refrigeration units, and for Scope 2 emissions from purchased energy.
Green Century said under the deal Costco will update those targets by next month and will set further targets in the coming year to bring down its Scope 3 emissions including those from goods it acquires and goods it sells to consumers.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.