Target revealed a new list of environmental and equity goals that it tries to achieve over the next two decades, with the launch of a new initiative named "Target Forward."
As part of the new Target Forward inactive, the company will attempt to make 100% of its private-label products to be "designed for a circular future," before the year 2040. This will include producing more products that are recyclable, durable and also sustainably sourced.
The company will also attempt to be a "net-zero enterprise" by the year 2040. this will require Target to produce net-zero emissions through its company operations and supply chains, while also adding zero waste to landfills in its United States operations.
Sustainable Retail Goals
Target Launches New Sustainability Goals as Part of "Target Forward"
Trend Themes
1. Circular Economy Products - Target aims to create circular economy products, including recyclable and durable products by the year 2040, opening an opportunity for emerging companies to develop sustainable materials and products.
2. Net-zero Emissions - Target's plan to achieve net-zero emissions by 2040 creates an innovation opportunity for renewable energy and carbon capture technologies.
3. Zero Waste Operations - Target's goal of zero waste in landfills by 2040 creates an opportunity for waste reduction technologies and sustainable packaging solutions.
Industry Implications
1. Sustainable Packaging - The goal of creating recyclable and sustainable packaging for Target's private-label products creates an innovation opportunity for sustainable packaging companies.
2. Renewable Energy - Target's plan for net-zero emissions creates an opportunity for renewable energy industries such as wind, solar, and hydroelectric power.
3. Waste Reduction - Target's zero-waste goal creates an innovation opportunity for companies in the waste reduction and management industry to provide sustainable solutions.