Lowe : 2024 Corporate Responsibility Report English
LOW
Published on 06/30/2025 at 20:43
2024 Corporate Responsibility Report
CONTENTS
Overview
Letter From Our Chairman and CEO 3
2024 Corporate Responsibility Highlights 4
About Lowe's and This Report 5
Lowe's Value Chain 5
Stakeholder Engagement and Priority Topics 6
Priority Topics and Goals 7
Net Zero in Action 10
United Nations Sustainable Development Goals and Targets 11
Our People and Our Communities
Workplace Safety 13
Culture, Diversity and Inclusion 15
Talent Acquisition, Development and Retention 18
Associate Health and Well-being 20
Community Engagement and Support 22
Our People and Our Communities Data 24
Product Sustainability
Supplier Social and Environmental Practices 26
Natural Resources 28
Product Responsibility 30
Product Sustainability Data 33
Operational Excellence
Climate Change, Energy and Emissions 35
Waste Management 37
Governance 39
Ethics and Compliance 40
Cybersecurity 41
Data Privacy 43
Business Resilience 44
Operational Excellence Data 46
Indices
GRI and SASB Indices 48
Task Force on Climate-related Financial Disclosures
2024 Report 57
2024 Corporate Responsibility Report
Chairman and CEO Letter
Highlights
Overview
Our People and Our Communities Product Sustainability Operational Excellence Indices
LETTER FROM
OUR CHAIRMAN AND CEO
Lowe's embraces the philosophy of "doing well by doing good" because we believe we can create social and environmental benefits while maximizing
shareholder value and providing exceptional service to our customers. In 2024, we delivered a solid operating performance and made positive impacts across the country, demonstrating these things are not mutually exclusive and instead work together for the betterment of our communities and company.
Despite the many challenges we faced - ranging from persistent inflation and higher interest rates to devastating natural disasters - we made meaningful progress on our sustainability goals. Our goals are grounded in a three-pillar strategy focused on Our People and Our Communities, Product Sustainability and Operational Excellence. The 2024 Corporate Responsibility Report highlights each area, providing progress reports and expectations for the future.
When it comes to our people and our communities, I'm especially proud of how we showed up for our neighbors following the deadly Hurricane Helene in our home state of North Carolina. Among many efforts, we've pledged
$13 million to support relief and recovery, built 100 tiny homes for those in need and served over 3,000 family-style Thanksgiving meals across the region. The Lowe's Employee Relief Fund celebrated its 25th anniversary in 2024, and through this life-changing program, we awarded grants of more than $12 million, including nearly $3 million in grants to help more than 2,000 associates recover from hurricanes Helene and Milton.
Our associates remain our priority, which is why we continue to focus on their development by intentionally cultivating a Culture of Winning. Since 2018, we've invested more than $4 billion in incremental wages and share-based compensation for frontline associates. We strengthened our talent pipeline, filling over 85% of our store leadership roles internally last year.
Just like we're investing in our associates, we're also investing in our communities. In 2024, we marked the third year of the Lowe's Hometowns program - our five-year, $100 million commitment to revitalize
community spaces - and the second year of the Lowe's Foundation's five-year, $50 million investment to train 50,000 individuals for careers in the skilled trades.
We've also made notable progress on our product sustainability goals, including:
achieving 91% compliance for sourcing all wood products from responsible sources and are on track to reach 100% compliance in 2025;
reaching nearly 70% completion of our commitment to exclude expanded polystyrene (EPS) and polyvinyl chloride (PVC) - two of the most mass-produced yet least recyclable materials - from our private brands packaging; and
offering industry-leading battery products in our Outdoor Power Equipment category.
We bring our sustainability goals to life through our operational excellence, so our day-to-day processes can be efficient and effective. In 2024, our progress included the following:
reducing our greenhouse gas (GHG) scope 1 and 2 emissions by 19% and scope 3 emissions by 20%
since 2021;
diverting more than 1.5 million pounds of plastic material from landfills through our partnership with Trex®; and
* continuing to modernize our fleet and maximize space within Lowe's vehicles to reduce the number of freight shipments.
These results combined with the external validation of third-party organizations reaffirm we have the right plans in place with the right leaders executing them. Thanks to our hard work and commitment
to operational excellence, Lowe's earned our 12th SmartWay® Excellence Award in 2024 and was named to the Dow Jones Best-in-Class Indices for the sixth consecutive year.
As we look ahead to 2025 and beyond, Lowe's is steadfast in how we will contribute to a better, more sustainable future for all. Together with our partners, we'll continue to empower our people, improve our systems and cross key milestones. When we do these things well, we do good - for our communities and our company.
God bless,
Marvin R. Ellison
Chairman and Chief Executive Officer
3
2024 CORPORATE RESPONSIBILITY HIGHLIGHTS
OUR PEOPLE AND OUR COMMUNITIES
PRODUCT SUSTAINABILITY
OPERATIONAL EXCELLENCE
62%
BOARD AND EXECUTIVE OFFICER DIVERSITY
of our board is diverse, with 46% identifying as people of color and 31% identifying as women
67%
of our executive officers are diverse, with 56% identifying as people of color and 44% identifying as women
$9+ Billion
in customer lifetime savings from Lowe's WaterSense® products purchased in 2024
ON TRACK TO ACHIEVE GREENHOUSE GAS (GHG) EMISSIONS GOALS FOR 2030. SINCE 2021, LOWE'S HAS:
Reduced scopes 1 and 2
19%
Reduced scope 3
(goal is 42%)
20%
(goal is 25%)
Member of
Dow Jones
Best-in-Class Indices1
Powered by the S&P Global CSA
Included in the Dow Jones Best-in-Class Indices for North America for the sixth consecutive year
100+
Stores
with solar rooftop installations as of 2024
$568+
Million
invested in our local communities by Lowe's and the Lowe's Foundation since 2018
$24
Million
invested since 2023 as part of the commitment by the Lowe's Foundation through 2027 to help meet growing demand for skilled tradespeople
Our promise to deliver 10 million square feet of impact every year. Visit Lowes.com/HowWeHelp to see updates on our milestones.
~$300
Million
awarded in bonuses for our frontline associates in 2024
Lowe's of Dublin, California
$5+ Billion
in customer lifetime savings from Lowe's ENERGY STAR® products purchased in 2024
Recognized Henkel with our Sustainability Partner of the Year award for its commitment to reducing emissions and investing in renewable energy
1 Formerly Dow Jones Sustainability Indices. 4
2024 Corporate Responsibility Report
Chairman and CEO Letter
Highlights
Overview
Our People and Our Communities
Product Sustainability
Operational Excellence
Indices
2024 Corporate Responsibility Report
Chairman and CEO Letter
Highlights
Overview
Our People and Our Communities Product Sustainability Operational Excellence Indices
About Lowe's and This Report
We are proud to introduce Lowe's 22nd annual corporate responsibility report, outlining our approach to sustainability and highlighting our goals, performance and progress to date. Our sustainability strategy focuses on three pillars: Our People and Our Communities, Product Sustainability and Operational Excellence. Lowe's is an active member of the Retail Industry Leaders Association (RILA), Business Roundtableand the National Retail Federation (NRF). We also collaborate with Change Chemistry, World Wildlife Fund (WWF) and the U.S. EPA's SmartWay, ENERGY STARand WaterSense programs.
This report covers our activities from January 1 to December 31, 2024, unless otherwise noted, and references the GRI Universal Standards 2021, Sustainability Accounting Standards Board (SASB) Standards for Multiline and Specialty Retailers and Distributors as well as Building
*Fiscal Year (FY) covers activities from February 3, 2024 - January 31, 2025.
Products and Furnishings. We also reference the Corporate Sustainability Reporting Directive (CSRD), although Lowe's is not required to adhere to it, because we do not do business in Europe. In addition, we reference the European Sustainability Reporting Standards (ESRS) and note relevant subtopics throughout the report. A third party verified our 2024 scope 1, 2 and 3 (Use of Sold Products, Category 11) GHG emissions and our water consumption data. For questions regarding Lowe's corporate responsibility activities or reports, contact Chris Cassell, vice president of corporate sustainability, at [email protected].
LOWE'S VALUE CHAIN
Lowe's India
Based in Bangalore, our Lowe's India team comprises more than 4,500 associates working across technology, analytics, business operations, finance and accounting, product management
and shared services to support U.S. retail operations.
UPSTREAM
LOWE'S OPERATIONS
DOWNSTREAM
Raw Materials
Wood and Pulp Copper, Steel, Iron Petrochemicals Other
Product Manufacturing
Indirect Suppliers
Tier 1 Suppliers (Private Brands and Third-party Brands)
Sourcing and Distribution
Distribution Centers (DCs) Transportation
Global Sourcing Offices
Retail Channels
Online Retail Stores Pro Jobsite
Project Specialists On-site
Contact Centers
Customer Use
Product Use Maintenance and Repair
End of Life
Materials Recycling Product Disposal
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Disclaimer
Lowe's Companies Inc. published this content on July 01, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 01, 2025 at 00:42 UTC.