Company: BBY
Filing Date: 2025-05-28
Form Type: PX14A6G
Source: 0001214659-25-008399
Chunk: 1

Company: BEST BUY CO INC
Filing Date: 2025-05-28
Form: PX14A6G
Chunk 1
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ationale for a “FOR” Vote:

| 1) | Climate Targets and Measures: Best Buy (“BBY”) aims to be operationally carbon neutral by 2040 and to reduce carbon                        
 emissions from use of sold product emissions by 20% by 2030. However, we believe, the company insufficiently disclose assumptions, and     
 forward-looking information that would provide investors with greater transparency on the specific strategies and actions that the company 
 plans to take which will allow it to reasonably achieve its commitments.                                                                   |

| 2) | Governance: BBY applies a Corporate Responsibility & Sustainability performance metric that makes up 20% of named executive         
 officer’s Short-Term Incentive payouts. However, the corresponding qualitative targets intended to evaluate the company’s           
 progress towards its "Culture of Belonging, Social Impact and Sustainability goals” are vague, non-transparent, and not measurable. |

| 3) | Lobbying: BBY lacks detailed policies, commitments, and disclosures related to public policies, regulations, and lobbying activities            
 that would allow investors to understand how the Government Affairs team, with support and oversight from the Nominating, Corporate Governance, 
 and Public Policy Committee, ensure that such efforts align with the company’s strategy to meet its carbon emissions reduction goals.           |

| 4) | Scenario Analysis and Financial Planning: BBY lacks the proper depth and specificity in its scenario analysis and financial          
 planning disclosures that would help investors better assess BBY’s preparedness for the financial impacts of the climate transition. |

| 5) | Reputational Risk: Unclear information and the potential for misalignment between BBY’s ambition and action on decarbonization             
 might be perceived as greenwashing which can lead to reputational damage that could disrupt long-term customer retention and lead to stock 
 price underperformance.                                                                                                                    |

Discussion

What this proposal seeks, disclosure of a climate transition
action plan (CTAP), would offer investors critical transparency into the actual, time-bound strategies and operational decisions that
Best Buy will undertake to meet its carbon emissions reduction commitments and mitigate the company’s climate-related risks. Disclosure
of these strategies and decisions is of particular interest to BBY investors given that since 2021 the company’s Scope 3 emissions
have increased year-over-year. CTAPs have emerged as a centerpiece of accountability and planning when it comes to corporate climate action
and could provide Best Buy with the opportunity to transparently disclose its plans and address each of the topics highlighted above and
further discussed