Grupo Palacio de Hierro, S.A.B. de C.V. Sustainability Profile
Grupo Palacio de Hierro, S.A.B. de C.V., commonly known as El Palacio de Hierro, is a prominent Mexican retail company headquartered in Mexico City. Established in 1891, it has evolved into a leading player in the luxury department store sector, primarily serving the Mexican market with a focus on high-end fashion, beauty, and home goods. The company operates several flagship stores across major cities in Mexico, offering a curated selection of exclusive brands and unique products. Known for its exceptional customer service and luxurious shopping experience, El Palacio de Hierro has solidified its position as a market leader in the retail industry. With a commitment to quality and innovation, the brand continues to set trends and redefine luxury shopping in Mexico.
DitchCarbon Score
How does Grupo Palacio de Hierro, S.A.B. de C.V.'s carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Retail Trade Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Grupo Palacio de Hierro, S.A.B. de C.V.'s score of 27 is lower than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Grupo Palacio de Hierro, S.A.B. de C.V.'s reported carbon emissions
In 2023, Grupo Palacio de Hierro, S.A.B. de C.V. reported total carbon emissions of approximately 6,583,280 kg CO2e, comprising 5,783,900 kg CO2e from Scope 1 and 12,770,380 kg CO2e from Scope 2 emissions. This reflects a significant increase in emissions compared to 2022, when the company recorded about 4,427,140 kg CO2e in Scope 1 and 9,413,000 kg CO2e in Scope 2, totalling approximately 13,840,140 kg CO2e. Despite the increase in emissions, the company has not disclosed any specific reduction targets or initiatives as part of its climate commitments. There are no reported Scope 3 emissions, and the company has not cascaded any emissions data from a parent organisation. Grupo Palacio de Hierro's emissions intensity in 2023 was reported at about 0.02 tonnes CO2e per square metre, indicating a focus on measuring emissions relative to operational scale. The absence of formal reduction targets suggests that the company may be in the early stages of developing a comprehensive climate strategy.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 4,427,140 | 0,000,000 |
| Scope 2 | 9,413,000 | 00,000,000 |
| Scope 3 | - | - |
How Carbon Intensive is Grupo Palacio de Hierro, S.A.B. de C.V.'s Industry?
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Grupo Palacio de Hierro, S.A.B. de C.V.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Grupo Palacio de Hierro, S.A.B. de C.V. has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
