Bed Bath & Beyond Unveils ESG Strategy, Commits to Support People, Community and Planet

May 6, 2021  by Laurie Northington in Business Strategy, Industry   

As outlined in its newly released 2020 ESG Report, the ESG strategy is an integral component of the multi-year transformation and growth plan Bed Bath & Beyond launched in October 2020 and advances the company's core belief that everyone deserves the opportunity to home, happier.

"For 50 years, Bed Bath & Beyond has made the home our business, and that commitment extends well beyond the foundations of our stores to the role we can play in creating positive change for our associates, the communities we serve, and the planet we call home," said Mark Tritton, president and CEO, Bed Bath & Beyond. "Our ESG strategy and comprehensive goals are a central part of our three-year transformation plan and a vital driver of our business as we innovate for the future and live up to our purpose, to 'make it easy to feel at home'."  

Bed Bath & Beyond's ESG strategy includes three core pillars of action reinforced by strong corporate governance: 

• People: To create an equitable, inclusive work environment where all our people feel at home and can thrive. Through targeted actions, Bed Bath & Beyond will continue to support diversity, equity and inclusion, while providing best-in-class total rewards, expanding learning and development, and introducing innovative upskilling opportunities for our teams. 
• Community: To provide the safety and sense of home to our neighbors through a combination of national and local community action at scale. 
• Planet: To significantly improve our environmental performance -- leading by example to build a better home for the next generation through targeted goals and initiatives that drive sustainability improvements throughout our value chain.

"Bed Bath & Beyond's ESG strategy is critical as it connects the company purpose with our overall business model and priorities," said Harriet Edelman, chair of the board of directors at Bed Bath & Beyond. "This purpose-led strategy will guide the company's transformation and advance our position as the home authority. While improving business returns, it will contribute to broader societal goals and attract and retain top talent, while responding to the interests of investors, customers, and the community. It's an important milestone for the company, and we are excited about and committed to the success and impact these ESG initiatives will make."