FOOT LOCKER, INC. ANNOUNCES AMBITION TO ACHIEVE NET ZERO GREENHOUSE GAS (GHG) EMISSIONS BY 2050 OR SOONER

Rhea-AI Summary

Foot Locker, Inc. (NYSE: FL) has announced its commitment to achieve net zero GHG emissions by 2050 or sooner, aligning with climate scientists' recommendations. This milestone in the company's ESG journey reflects its dedication to sustainability and stakeholder engagement. Foot Locker aims to set a science-based target and will report progress annually in its Impact Report, with the next report expected in fall 2022. CEO Richard A. Johnson emphasized that climate stewardship can strengthen relationships with customers and communities while addressing business risks.

Positive

• Commitment to achieve net zero GHG emissions by 2050 or sooner.
• Alignment with climate scientists' recommendations and stakeholder feedback.
• Introduction of an annual Impact Report for transparency in GHG emissions progress.
• Potential to unlock opportunities for innovation and strengthen community relationships.

Negative

• None.

NEW YORK, March 24, 2022 /PRNewswire/ -- Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, today announced its ambition to achieve net zero GHG emissions by 2050 or sooner, in alignment with climate scientists' recommendations to transition toward a net zero state and avoid the worst impacts of climate change. This announcement marks an important milestone in the Company's environmental, social, and governance (ESG) journey. As the Company looks to fiscal 2022 and beyond, it is committed to building on this progress and strengthening its vision for a more sustainable world.

Answering the call to limit the global temperature rise to 1.5°C, as well as feedback from stakeholders, the Company commits to setting a science-based target in line with the criteria established by the Science Based Target initiative (SBTi). The Company will report its progress against certain metrics regarding its GHG emissions annually in its Impact Report, which is available at investors.footlocker-inc.com/impactreport, and is aligned with the reporting disclosure guidance of the Sustainability Accounting Standards Board (SASB) industry standards and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The Company expects to publish its next Impact Report in fall 2022.

"Foot Locker, Inc. is committed to helping our planet remain a sustainable home for current and future generations," said Richard A. Johnson, Chairman and Chief Executive Officer. "Unabated climate change presents risks for our business, industry, and society, but through climate stewardship, we may unlock opportunities to innovate and strengthen our relationships with our customers and the communities we serve."  

To learn more about Foot Locker, Inc.'s efforts to power a more sustainable future, see its Global Environmental and Climate Change Statement, which is available at investors.footlocker-inc.com/climate.

Foot Locker, Inc. leads the celebration of sneaker and youth culture around the globe through a portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep. With approximately 3,000 retail stores in 28 countries across North America, Europe, Asia, Australia, and New Zealand as well as websites and mobile apps, the Company's purpose is to inspire and empower youth culture around the world, by fueling a shared passion for self-expression and creating unrivaled experiences at the heart of the global sneaker community. Foot Locker, Inc. has its corporate headquarters in New York. For additional information please visit https://www.footlocker-inc.com.

Disclosure Regarding Forward-Looking Statements

This report contains forward-looking statements within the meaning of the federal securities laws.  Other than statements of historical facts, all statements that address activities, events, or developments that the Company anticipates will or may occur in the future are forward-looking statements.  These forward-looking statements are based on many assumptions and factors that are detailed in the Company's filings with the U.S. Securities and Exchange Commission.

Investor Contact:    
Robert Higginbotham    
Vice President, Investor Relations           
robert.higginbotham@footlocker.com    
(212) 720-4600                                        

Media Contact:    
Cara Tocci 
Vice President, Corporate Communications    
cara.tocci@footlocker.com 
(914) 582-0304  

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SOURCE Foot Locker IR

FAQ

What is Foot Locker's goal for GHG emissions?

Foot Locker aims to achieve net zero GHG emissions by 2050 or sooner.

When is Foot Locker's next Impact Report due?

Foot Locker expects to publish its next Impact Report in fall 2022.

What initiative is Foot Locker aligning with for its emissions targets?

Foot Locker is aligning its targets with the Science Based Target initiative (SBTi).

How does Foot Locker plan to report its progress on GHG emissions?

Foot Locker will report its GHG emissions progress annually in its Impact Report.

What is the significance of Foot Locker's commitment to climate change?

The commitment marks a significant milestone in Foot Locker's environmental, social, and governance (ESG) efforts.