Bed Bath & Beyond (BBBY)

How does the Company address the climate change issues raised in this proposal?

As discussed at length in the letter from our Co-Chairmen and our Chief Executive Officer in last year’s Annual Report, the Company is very aware of and responsive to issues related to consumption of natural resources and climate change.  As noted in more detail below, the Company has continued to extend its commitment to reducing its own emissions.  What the Company has not done to date is any substantive public reporting on its efforts in this area, aside from the comments in last year’s Annual Report and proxy statement.  The Company’s lack of reporting appears to be the thrust of this proposal, and it is a fair criticism.

The proposal on energy efficiency efforts in last year’s proxy statement garnered approximately 25.8% of the votes cast last year, representing about 19.8% of outstanding shares.  There does appear to be some appetite among the Company’s shareholders for information regarding the efforts undertaken in the areas of energy efficiency, emissions reduction and broad response to climate change issues.  During the last year, senior management of the Company pulled a team together to coordinate information regarding the Company’s various efforts in the area of energy efficiency and emissions reduction as well as other related issues, to consider ways of possibly publicizing those efforts, and to develop and implement additional measures.  One goal of this group is to prepare a response to this year’s Carbon Disclosure Project survey by the May 31 deadline.