The ODP Corporation Achieves Validation of Science-Based Emission Reduction Targets

Rhea-AI Summary

The ODP Corporation: Validated Science-Based Targets for Environmental Sustainability

Positive

• The ODP Corporation's successful validation from the Science Based Targets initiative (SBTi) of its science-based targets for greenhouse gas (GHG) emissions demonstrates a strong commitment to environmental sustainability.
• The company's goals for reducing GHG emissions, including a commitment to reduce absolute scope 1 and 2 GHG emissions by 46.2% and scope 3 GHG emissions by 55% by 2030, reflect a dedication to combat the effects of climate change.
• The collaborative effort to drive sustainability throughout the supply chain, with a commitment for 75% of its suppliers to have science-based targets by 2027, showcases a comprehensive approach to reducing emissions and fostering an environmentally responsible business ecosystem.

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Validated science-based targets emphasize The ODP Corporation’s commitment to environmental sustainability

BOCA RATON, Fla.--(BUSINESS WIRE)-- The ODP Corporation is proud to announce that it has successfully earned validation from the Science Based Targets initiative (SBTi) of its science-based targets for scope 1, scope 2, and scope 3 greenhouse gas (GHG) emissions. This significant milestone demonstrates The ODP Corporation’s commitment to environmental sustainability and aligns with its ongoing efforts to combat the effects of climate change.

The science-based targets reflect The ODP Corporation’s goals for reducing GHG emissions, including a commitment to reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year. The Company further commits to reduce scope 3 GHG emissions from downstream transportation and distribution and use of sold products 55% per USD value added by 2030 from a 2019 base year.

As part of its dedication to driving sustainability throughout its supply chain, The ODP Corporation also commits that 75% of its suppliers by spend covering purchased goods and services will have science-based targets by 2027. This collaborative effort will contribute to reducing emissions and fostering an environmentally responsible business ecosystem.

"We are incredibly proud to have our science-based targets validated, as it underscores our commitment to make meaningful changes in our environmental impact," said Shannon Hunter, vice president of sustainability at The ODP Corporation. "By setting these targets, we are sending a clear message to all of our stakeholders—including our employees, customers, and partners—that we are dedicated to environmental sustainability and actively reducing our carbon footprint."

Achieving validation of our science-based targets is a testament to The ODP Corporation’s ongoing sustainability journey. The ODP Corporation remains committed to continuously improving its environmental practices and embracing innovative solutions. This announcement marks a pivotal step forward in the company’s sustainability efforts and reinforces its position as a responsible corporate citizen.

For more information about sustainability initiatives at The ODP Corporation, please visit theodpcorp.com/corporate-sustainability.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products, services, and technology solutions through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, a B2B digital procurement solution, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; Veyer, LLC; and Varis, Inc., The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. Varis is a trademark of Varis, Inc. Any other product or company names mentioned herein are the trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116544643/en/

Jennifer Robins

Media Relations

Jennifer.Robins@theodpcorp.com



Swati Joshi

Media Relations

Swati.Joshi@theodpcorp.com

Source: The ODP Corporation

FAQ

What is The ODP Corporation's commitment to environmental sustainability?

The ODP Corporation has successfully earned validation from the Science Based Targets initiative (SBTi) of its science-based targets for greenhouse gas (GHG) emissions, demonstrating a strong commitment to environmental sustainability.

What are The ODP Corporation's goals for reducing GHG emissions?

The company aims to reduce absolute scope 1 and 2 GHG emissions by 46.2% and scope 3 GHG emissions by 55% by 2030, reflecting a dedication to combat the effects of climate change.

How is The ODP Corporation driving sustainability throughout its supply chain?

The company commits to having 75% of its suppliers with science-based targets by 2027, showcasing a comprehensive approach to reducing emissions and fostering an environmentally responsible business ecosystem.