Richmond, Virginia-based CarMax, Inc. is aiming to produce net-zero carbon emissions by 2050 as part of its commitment to minimize environmental impact and conform with the climate change mitigation efforts set out by the Paris Agreement, the company announced in a press release.
The car-selling company is eyeing a 50% reduction of greenhouse gas (GHG) emissions by 2025 and has said that efforts are currently being initiated to reach their target.
“At CarMax, ‘do the right thing’ is one of our values,” CarMax CEO Bill Nash said in the release. “We believe that our goal to achieve net-zero by 2050 demonstrates our commitment to address the challenge of climate change. We have a clear roadmap to meet the target of a 50% reduction by 2025, and a number of steps are already underway toward that goal. Longer term, we will be evaluating all aspects of our business to see what additional measures we can take to achieve our 2050 goal.”
Aligned with the Paris Agreement, CarMax’s framework includes “avoiding and reducing emissions through energy conservation measures, applying on and off-site renewable energy generation, implementing renewable energy procurement strategies, i.e.; renewable supply contracts, power purchase agreements, and If necessary, purchasing verified and socially beneficial offsets.”
Apart from its net-zero initiative, the company is also zooming in at expanding the electric vehicle market.
“We want to become a leader in offering used EVs as the market evolves and grows,” Nash said in the release.
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