Bed Bath & Beyond unveils environmental, social and governance plan

Bed Bath & Beyond is revamping itself. (File photo)

Bed Bath & Beyond has crafted its first comprehensive environmental, social and governance strategy, the Union-based home goods retailer said Wednesday.

The company’s new 2020 ESG Report indicates the ESG strategy will be an integral component of its multiyear transformation and growth plan.

The strategy includes three core pillars of action, reinforced by strong corporate governance, Bed Bath said in a news release:

  • “People: To create an equitable, inclusive work environment where all our people feel at home and can thrive. Through targeted actions, Bed Bath & Beyond will continue to support diversity, equity and inclusion, while providing best-in-class total rewards, expanding learning and development, and introducing innovative upskilling opportunities for our teams.
  • “Community: To provide the safety and sense of home to our neighbors through a combination of national and local community action at scale.
  • “Planet: To significantly improve our environmental performance — leading by example to build a better home for the next generation through targeted goals and initiatives that drive sustainability improvements throughout our value chain.”

Further details include goals to become a Top 10 retail employer by 2030, donating $1 billion in products and 2 million volunteer hours by 2030, and becoming a net-zero company by 2040.

“For 50 years, Bed Bath & Beyond has made the home our business, and that commitment extends well beyond the foundations of our stores to the role we can play in creating positive change for our associates, the communities we serve and the planet we call home,” CEO and President Mark Tritton said in a prepared statement. “Our ESG strategy and comprehensive goals are a central part of our three-year transformation plan and a vital driver of our business as we innovate for the future and live up to our purpose, to ‘make it easy to feel at home.’”

Bed Bath has named Mark Heintz as vice president, ESG, to oversee the strategy. He has more than 15 years of experience leading ESG and corporate sustainability teams, the company said.

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