Target Corporation

Food Retailers & Wholesalers / Apparel Retailers

TGT

$ 213 (2.6)%

Share price

$ 99 bn

Market Cap

$ 116 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.58x the weighted average for S&P 500

FY2020

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -5.1% weighted average for S&P 500

FY2021

Target Corporation aims to reduce Scope 1 + 2 by 30% by 2030 from a base year 2017

This target is most likely outdated and the company appears to have already achieved it

2°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.9% weighted average for S&P 500

FY2021

Target Corporation aims to achieve net zero for all Scopes by 2040

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Target Corporation reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 1,883 Kt (-415 /-18.1% y-o-y). Also positively, carbon intensity plummeted to 20 t (-9.3 /-31.6% y-o-y).

Target Corporation's Scope 3 emissions soared to 64,789 Kt (+9,000/+16% y-o-y). The growth accelerated compared to the long-term upward trend (CAGR of +7.1% since 4Q'18).

The company is committed to reducing Scope 1 + 2 by 30% by 2030 from a base year 2017, which it appears to have already achieved as of 2020. This science-based target is aligned with Paris Agreement to limit global warming to 2°C above pre-industrial levels.

Also, the company commits to achieving net zero for all Scopes by 2040, which translates into the estimated reduction of -3,334 Kt per annum over the period of FY2021 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2020Q4	1,883	700	1,184	64,789	93,561	20
2019Q4	2,298	753	1,546	55,789	78,112	29
2018Q4	2,538	755	1,783	52,720	75,356	34
2017Q4	2,568	706	1,862	52,857	72,714	35