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Nationwide Discount Retailer Target Joins BICEP Business Coalition Advocating Strong Energy and Climate Policy

"Participating in solution-oriented dialogue with partners like BICEP" is key to influencing meaningful climate legislation and regulation, says Target VP.

May 5, 2010 – Business for Innovative Climate & Energy Policy (BICEP), a coalition of major American businesses that has been pushing hard over the past 18 months for passage of comprehensive energy independence and climate legislation in the U.S., announced today that Target Corporation has joined the coalition.
Boston May 05, 2010

Business for Innovative Climate & Energy Policy (BICEP), a coalition of major American businesses that has been pushing hard over the past 18 months for passage of comprehensive energy independence and climate legislation in the U.S., announced today that Target Corporation has joined the coalition.

The announcement came in Boston at the opening of the Ceres national conference, with more than 600 people in attendance. The BICEP coalition is coordinated by Ceres, a nationwide network of investors and public interest groups working with companies and investors to address sustainability challenges.

Target, with more than 350,000 employees and $65 billion in annual revenues, becomes the 18th BICEP member and joins consumer giants Best Buy, Symantec, eBay, Nike, Starbucks, Timberland and Seventh Generation among the coalition’s members.

“With legislation to address our nation’s energy and climate change needs under consideration in the Senate, there couldn’t be a timelier moment to welcome such a prominent business voice to BICEP,” Ceres President Mindy Lubber said in her opening conference remarks this morning. “America’s businesses know that tackling energy independence and climate change now is the key to America’s 21st Century global competitiveness, and a good way as well to jump start growth as we struggle out of trying economic times.”

Target has long worked to minimize its environmental impact and has publicly reported its carbon emissions since 2003. The retailer is committed to setting and announcing a carbon reduction goal this year. Target takes active steps to incorporate sustainability into its business practices by designing, building and remodeling its stores to constantly improve on energy efficiencies; offering environmentally friendly products with streamlined packaging and implementing smart transportation practices; and through programs like recycling stations in every store and giving customers 5 cents back for each reusable bag used during purchase.

“Since we opened our first store in 1962, Target has invested in the health and sustainability of our communities,” said Tony Heredia, Vice President of Corporate Risk and Responsibility. “At Target, we join our guests, team members and partners in making environmental commitments we all can keep. Participating in solution-oriented dialogue with partners like BICEP member companies and policymakers is how we will influence meaningful legislation and regulation that will impact climate change and improve our communities.”

The U.S. House passed comprehensive energy and climate legislation last June, and a bipartisan Senate coalition headed by Republican Lindsey Graham of South Carolina, Democrat John Kerry of Massachusetts and Independent Joseph Lieberman of Connecticut is considering similar legislation for the Senate. The Obama administration has also been active in pushing for a comprehensive bill this year.

More about BICEP’s nine core principles for energy independence and climate policy can be found at: http://www.ceres.org/company-network/bicep

The BICEP coalition is coordinated by Ceres, which also directs the Investor Network on Climate Risk, a network of more than 90 institutional investors with nearly $10 trillion under management focused on addressing the financial risks and investment opportunities posed by climate change.

About Target
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,740 stores nationwide and at Target.com. Target is committed to providing a fun and convenient shopping experience with access to unique and highly differentiated products at affordable prices. Since 1946, the corporation has given 5 percent of its income through community grants and programs like Take Charge of Education. Today, that giving equals more than $3 million a week.

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