Successful sustainability measures: Science Based Target Initiative validates CECONOMY emissions targets

// Group targets for a better carbon footprint have now also been validated by the independent Science Based Target initiative (SBTi).
// By the 2032/33 financial year, CECONOMY will reduce direct and indirect CO₂ emissions in its own business operations (Scope 1 and 2) by 58.8 per cent and in parts of the upstream and downstream value chain (Scope 3) by 32.5 per cent. Furthermore, the company is committed to ensuring that 74 per cent of its suppliers pursue scientifically based targets in line with the Paris Agreement by the 2027/28 financial year.
// Dr Karsten Wildberger, CEO of CECONOMY and MediaMarktSaturn:
"Sustainability is an integral part of our DNA and we want to be measured against it. With the validation, the SBTi recognises our ambitious sustainability goals. As Europe's largest electronics retailer, we want to lead the way and make a decisive contribution to reducing emissions by continuously optimising our business practices, promoting renewable energy sources and driving forward innovative technologies for environmentally friendly products and services."

Sustainability is non-negotiable for CECONOMY AG ("CECONOMY"), the parent company of MediaMarktSaturn. That is why the company has set itself climate targets that have now been confirmed as science-based and ambitious by the independent Science Based Targets initiative (SBTi).

The Science Based Targets initiative was launched in 2015 to support companies in setting emission reduction targets that are in line with climate science and the goals of the Paris Agreement. The SBTi enables companies to independently assess and validate their own emissions targets through a team of experts.

SBTi has now validated CECONOMY's ambitious climate targets:

1. CECONOMY is committed to reducing its absolute Scope 1 and 2 emissions (direct and indirect greenhouse gas emissions) by 58.8 per cent by the 2032/33 financial year, starting from the base year 2018/19.
2. CECONOMY is committed to reducing the absolute Scope 3 emissions of category 4 (upstream transport and distribution), category 1 (purchased goods and services of own brand products) and category 11 (use phase of sold own brand and external brand products) by 32.5 per cent by financial year 2032/33, starting from the base year 2021/22.
3. CECONOMY is committed to ensuring that 74 per cent of its suppliers (measured in terms of emissions in the area of purchased goods and services) pursue their own scientifically based targetsin line with the Paris Agreement by financial year 2027/28.

CECONOMY strives for climate-neutral business practices. The company is reducing the CO₂ footprint of its own business activities, for example through building automation and optimisation of its own heating, ventilation and air conditioning technology, as well as by largely switching to LED lighting in its stores and purchasing green electricity. The Group also helps customers to choose and use the right sustainable products and thus consume less energy, for example

Since 2021, CECONOMY has been one of the first retail companies in Europe to voluntarily support the European Climate Pact's Sustainable Consumption Pledge. The purpose of the initiative is to motivate companies to define forward-looking climate protection measures.

Further information
Information on the Science-Based Target Initiative (STBi):
https://sciencebasedtargets.org/
Sustainability Report 2022/23 of CECONOMY AG:
https://www.ceconomy.de/media/ceconomy_sustainability_report_2022_23.pdf