Company: BBY
Filing Date: 2025-05-28
Form Type: PX14A6G
Source: 0001214659-25-008399
Chunk: 3

Company: BEST BUY CO INC
Filing Date: 2025-05-28
Form: PX14A6G
Chunk 3
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 BBY has significant influence over their use of sold product emissions (i.e. Scope 3, Category 11), primarily through the expectations          
 it can communicate to the company’s suppliers, the inclusion of products in its product portfolio, product placement decisions,                 
 marketing, and labelling. However, BBY insufficiently communicates what their planned measures are to reduce the use of sold product emissions. 
 For example, in its efforts to address Scope 3, Category 11 emissions, Home Depot set a target for increasing its sales of battery powered      
 lawn equipment, and provided investors with a much more transparent illustration of initiatives intended to directly address the company’s      
 most significant emission source5.                                                                                                              |

| · | Products on the BBY website lack easily visible energy-efficiency information (e.g. ENERGY STAR label). Energy-efficiency labelling     
 is a simple and effective measure to support customers in making environmentally friendly choices and reducing their energy bill. Media 
 Markt6 and Euronics7 are two examples of electronic retailers with clear energy-efficiency labelling.                                   |

| · | We have found no evidence that energy-efficiency is a component of BBY’s product placement or 
 marketing strategy.                                                                           |

2) Governance

| · | While the Board has tied 20% of BBY’s executive short-term incentive (“STI”) plan to the achievement of Corporate                           
 Responsibility & Sustainability (“CR&S”) goals, the corresponding performance metrics, “Culture of Belonging,                               
 Social Impact, and Sustainability” are vague, non-transparent, and not measurable. 8                                                        
 Without more detailed disclosure from the Compensation Committee regarding how the CR&S metrics are evaluated – including the               
 specific criteria used to assess progress on emissions reduction – it remains unclear to investors whether, and to what extent,             
 achievement of the company’s climate targets is meaningfully influencing STI payouts. Climate Action 100+ recommends executive renumeration 
 to be linked to a concrete and measurable climate KPI9. For BBY this could, for example, be progress on their SBTi target.                  
 For instance, Walmart’s executive sustainability officer has their compensation linked to performance indicators such as absolute           
 emissions reductions and progress towards their climate target.10                                                                           |

| · | While BBY states in its 2023 CDP Climate Survey that the company has climate-expertise on the board, there is no further information 
 regarding the kind of expertise and experience this assessment relies upon.11                                                        |

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See C12.1b of