GlobalData offers a comprehensive analysis of Five Below, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Five Below‘s ESG performance. GlobalData’s company profile on Five Below offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Five Below, a popular discount retailer, is committed to reducing its GHG emissions as part of its sustainability efforts. In 2022, the company successfully decreased the cardboard usage by approximately 785 tons, which is equivalent to saving 13,300 trees or preserving 67 acres of rainforest. Consequently, the company was also able to reduce the number of shipped containers by nearly 169 and decrease the presence of 100 fewer trucks on U.S. highways, contributing to a further reduction in energy consumption.
Five Below is taking several steps to reduce its emissions. The company has implemented a new fuel methodology to manage third-party carriers' fuel consumption and emissions. Through global logistics optimization and utilization measures, Five Below has already shipped 600 fewer containers in 2022, contributing to emission reduction. Additionally, the company is using an energy/building management system to monitor consumption across its stores and two ShipCenters in Arizona and Indiana, promoting energy efficiency.
Five Below is also committed to responsible product offerings. As part of its broad assortment, the company provides textiles made from recyclable and recycled materials, as well as Fair Trade-certified products. This focus on responsible products aligns with the company's goal of minimizing waste and reducing excess packaging. Five Below is actively exploring design and supply chain strategies to make its packaging smaller, maximize shipping containers, and minimize garbage. The company is also considering reconfiguring products for a better fit and promoting reusable and environmentally friendly packaging. Recycling programs are already in place at Five Below's ShipCenters and in WowTown.
In conclusion, Five Below is dedicated to exploring ways to reduce its carbon emissions and energy usage. The company is taking steps to achieve them, including implementing fuel management strategies, optimizing logistics, and utilizing energy/building management systems. Five Below is also focused on responsible product offerings and has recycling programs in place. By prioritizing emission reduction and sustainable practices, Five Below is demonstrating its commitment to environmental stewardship.