Press Release
National Center for Public Policy Research Free Enterprise Project (FEP)
Company’s Carbon-Neutral Commitment Reflects a Disconnect From Reality
Washington, D.C. — At Friday’s annual meeting of Best Buy shareholders, activist investors with the National Center for Public Policy Research’s Free Enterprise Project (FEP) will ask for evidence that the company’s sustainability goals are created and maintained with an eye on traditional financial metrics such as return on investment (ROI) and net present value (NPV).
FEP is particularly critical of the company’s signing of “The Climate Pledge,” which commits Best Buy to become carbon neutral by 2040.
“We are called Best Buy, but we have the worst management,” FEP Executive Director Steve Milloy will tell shareholders as he presents Item 5 (“Sustainability ROI Report”). “If you look at our board of directors, there is not a single member who seems to have any experience with energy or manufacturing electronics or appliances. No wonder it supports net zero policies. For all it knows, the products we sell are made by elves powered by magic.”
