Target Launches New Target Forward Sustainability Strategy; Brian Cornell and Amanda Nusz Discuss
MINNEAPOLIS, MN - Increasingly, shoppers have evolved from caring not only about the quality and price of products they purchase, but the values and commitments companies and retailers that are producing and selling goods. To offer consumers a shopping experience they can feel good about, Target recently launched its new Target Forward sustainability strategy that aims to positively impact both people and the planet. As part of the strategy, the retailer has invested more than $1 billion into the health, safety, and well-being of its employees, raising its minimum wage to $15/hour.
“As a company and a member of the global community, it’s imperative for both the health of our business and of our planet that we embrace new ways to move forward,” said Brian Cornell, Chairman and Chief Executive Officer of Target. “We know sustainability is tied to business resiliency and growth, and that our size and scale can drive change that is good for all. Target Forward influences every corner of our business, deepens our collaboration with our partners, and builds on our past efforts to ensure a better future for generations to come.”
Together with its partners, shoppers, and surrounding communities, Target aims to co-create an equitable and regenerative future that is spurred by a new generation of sustainability for the company, according to a press release. The new strategy is based on the retailer’s purpose to help the families and individuals that shop at Target discover the joy of everyday life, while also focusing on restoring and renewing natural systems and ensuring its team, communities, and partners can thrive.
The commitments that Target is making via its Target Forward strategy will work toward three ambitions: design and elevate sustainable brands, innovate to eliminate waste, and accelerate opportunity and equity.
“We want our guests to turn to Target first when they think about sustainability,” said Amanda Nusz, Senior Vice President of Corporate Responsibility, Target, and President of the Target Foundation. “We know that the only way to make that possible is by putting both people and the planet at the center of our efforts, as we co-create with our guests, our partners, and the communities we serve.”
Other signature goals put forth by Target include:
- By 2030, Target aims to be the market leader for creating and curating inclusive, sustainable brands and experiences
- By 2040, Target plans for 100 percent of its owned brand products to be designed for a circular future
- By 2040, Target commits to being a net zero enterprise
- By 2030, Target aims to build a team that equitably reflects the communities it serves, beginning with its commitment to increase Black team member representation across the company by 20 percent by 2023
Although Target Forward is a new strategy, the retailer has already made efforts to promote sustainability and equity across its operations and in its communities. Already, Target has increased its renewable energy footprint, added inclusive and sustainable product assortments to its aisles, made social justice commitments, and offered philanthropic support to underserved communities around the globe.
Some of Target’s ongoing commitments and achievements include:
- Purchasing nearly 50 percent of its electricity from renewable sources, well on its way to 100 percent by 2030
- Investing $1 billion more in the health, safety and wellbeing of its team members, including the move to an industry-leading starting wage of $15 in the U.S.
- Establishing a Racial Equity Action and Change (REACH) committee
As part of its efforts, Target is working alongside its partners Unilever, Business for Social Responsibility, and Prosperity Now to help drive forward its mission.
To read Target's other goals and achievements, click here.
With this new strategy and commitments in play, how will Target strengthen its position in the retail market, and how will these new goals affect its growing grocery sector? AndNowUKnow will keep a pulse on the newswire for the answers.