In 2023, Macy's completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Macy's has also provided a category-level breakdown for 12 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Scope 1 | 67,002a | 40,901b | 42,421a | |
Total Scope 2 | ||||
Market-Based | 417,784a | 425,645b | 442,470a | |
Location-Based | 445,571a | 439,168b | 426,362a | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 10,364,919a | 12,559,258a | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 2.8074a | 1.6072b | 1.6702a |
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In 2023, the total operational greenhouse gas (GHG) emissions of Macy's amounted to 512,573 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of Macy's increased by 6.77%, suggesting that the company faced challenges in reducing its emissions from its core operations.ab
In 2023, the total Scope 1 emissions of Macy's were 67,002 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Macy's's Scope 1 emissions have increased by 47.24%, reflecting a rising long-term trend in Scope 1 emissions over time.ac
Compared to the previous year (2022), Macy's's Scope 1 emissions increased by 63.82%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.ab
In 2023, Macy's reported Scope 2 greenhouse gas (GHG) emissions of 417,784 tCO₂e using the market-based method and 445,571 tCO₂e using the location-based method.a
Compared to the previous year (2022), Macy's's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Macy's's emissions have plateaued with no significant change in its energy consumption footprint.ab
In 2023, Macy's reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2023, Macy's reported 10,364,919 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2023 disclosure of Macy's includes a breakdown across 12 of the 15 Scope 3 categories defined by the GHG Protocol, up from 8 in 2022, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2023, Macy's reported total Scope 3 emissions of 10,364,919 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 94% of these emissions originated from upstream activities such as purchased goods and capital goods, while 6% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2022), Macy's's Scope 3 emissions decreased by 17.47%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2023, Macy's reported emissions for 12 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2023, the largest contributors to Macy's's Scope 3 emissions were:a
In 2023, Macy's reported Scope 1 greenhouse gas (GHG) emissions of 67,002 tCO₂e and total revenues of USD 23,866 millions. This translates into an emissions intensity of 2.81 tCO₂e per millions USD.a
In 2023, Macy's reported a Scope 1 emissions intensity of 2.81 tCO₂e per millions USD. Compared to the peer group median of 6.59, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2023, Macy's ranked 5 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Macy's among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2023, Macy's reported a total carbon footprint of 10,877,492 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 16.58% decrease compared to 2022, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to Macy's's total carbon footprint was Scope 3 emissions, accounting for 95.29% of the company's total carbon footprint, followed by Scope 2 emissions at 4.1%.a