Wayfair has changed and evolved significantly over the past 20 years. From a small internet start-up to a global ecommerce destination for home, our commitment to helping others create the feeling of home has remained. This commitment encompasses the ”‘homes” that we all share - from our local communities and towns to the great planet we all depend on. We are committing to investing in our shared home and reducing our environmental impacts.
As we kick off this important part of our journey, we’re setting our first long-term commitment to reduce our Scope 1 & 2 greenhouse gas emissions by 63% by 2035 from a 2020 baseline. We’ve set this goal in-line with what latest climate science deems necessary in our own, direct operations to meet the goals of the Paris Agreement, which are to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
This goal will guide us as we look to reduce our footprint from our global facilities and managed vehicles - the areas of our operations where we have the most direct impact. We’re already reviewing robust renewable energy, energy efficiency and electrification projects to address these emissions. In the meantime we have invested in renewable energy credits and renewable energy guarantees of origin that fund approximately 8,300 megawatts of renewable energy generation across North America, the EU, and U.K.
Next week, we’ll release our first Corporate Responsibility Report. The report details how we’re thinking about our impacts, the progress we’ve made to date, and most importantly how we’re thinking about the future. We’ll detail our first greenhouse gas inventories that we’re conducting to measure our impacts and inform our strategy.
Lastly, we know our climate strategy needs to address our Scope 3 emissions - the upstream and downstream emissions of our value chain. We’re aiming to create programs that engage suppliers and partners to address the notable emissions associated with the products that we sell and transport.
We hope you’ll follow along on our journey.