Company: BBY
Filing Date: 2025-05-28
Form Type: PX14A6G
Source: 0001214659-25-008399
Chunk: 2

Company: BEST BUY CO INC
Filing Date: 2025-05-28
Form: PX14A6G
Chunk 2
---
 below.

1) Climate Targets and Measures

| · | We acknowledge BBY’s targets and efforts regarding their Scope 1 and 2 emissions which the company refers to in the opposition 
 statement. We consider them satisfactory.                                                                                      |

However, more than 95% of BBY’s emissions
are related to Scope 3. We find their disclosures related to Scope 3 emission targets and measures insufficient and argue
that more transparency is necessary for investors to understand BBY’s climate transition as well as to strengthen the company’s reputation and to increase customer satisfaction.

| · | More than 95% of BBY’s Scope 3 emissions stem from category 11, use of sold products.2 While                                               
 BBY has publicly committed to reducing Scope 3 use of sold product emissions by 20% by 2030 (base year 2017)3 the assumptions              
 underlying this target are not fully transparent. Reductions in use of sold product emissions are strongly influenced by BBY’s assumptions 
 about future revenue growth and the pace of grid decarbonization in the company’s primary markets. An absolute target alone does           
 not give investors any indication of the company’s planned contribution to the targeted emission reduction. Apart from the communication   
 of underlying assumptions, the disclosure of the five most emission-intensive product categories, and the average energy efficiency of     
 sold products in those categories would be an example of meaningful disclosure that would help investors understand BBY’s climate          
 transition in its most relevant emission category.                                                                                         |

| · | In addition, the company’s emissions from the use of sold products have been increasing since at least 2021.2 Further transparency is thus required for investors to understand how BBY intends to meet its 2030 product-related commitment. |

_____________________________

See the Blueprint for Implementing a Leading
Climate Transition Action Plan at https://www.ceres.org/resources/reports/blueprint-for-implementing-a-leading-climate-transition-action-plan

See pg. 67 of Best Buy’s 2024 CR&S
Report at https://corporate.bestbuy.com/wp-content/uploads/2024/07/BBY-CRS-Report-July2024.pdf

See Best Buy entry at https://sciencebasedtargets.org/target-dashboard

| · | We acknowledge that managing Scope 3 emissions is challenging, especially when they are beyond the influence of the company. However,           
 in BBY’s case the bulk of their Scope 3 emissions are driven by the energy consumption used by customers to power sold products.4