Friday, September 25, 2020

Sainsbury’s to invest £1bn to become net zero

Sainsbury’s is the latest supermarket to unveil sustainability pledges after committing to invest £1 billion to become net zero by 2040.

The supermarket will use the £1 billion investment over twenty years to implement a programme of changes, with a focus on reducing carbon emissions, food waste, plastic packaging and water usage and increasing recycling, biodiversity and healthy and sustainable eating.

The investment will enable the business to fulfil Scope one and Scope two emissions, putting the business on course for Net Zero a decade ahead of the UK government’s deadlines.

The retailer will work with the Carbon Trust to assess emissions and set science-based targets for reduction, publicly reporting on progress every six months.

The targets will align the business with the goal to limit global warming to 1.5°C, the highest ambition of the Paris Agreement.

Sainsbury’s will work with suppliers to set their own ambitious net zero commitments, in line with the Paris Agreement goals.

“We have a duty to the communities we serve to continue to reduce the impact our business has on the environment and we are committing to reduce our own carbon emissions and become Net Zero by 2040, ten years ahead of the government’s own targets, because 2050 isn’t soon enough,” said Mike Coupe, CEO of Sainsbury’s.

“We have a strong heritage of reducing our carbon emissions – we have reduced them by 35% over the past fifteen years despite the footprint of our business increasing by over 40%. We invested £260 million in over 3,000 initiatives over the last decade, including the start of our LED lighting programme and refrigeration.

“Over the next 20 years we will invest a further £1 billion in programmes that will transform the way we do business and put environmental impact at the forefront of every decision we make.

“We recognise that we have a once in a lifetime opportunity to make the changes needed to help the planet exist sustainably. We have over 27 million customers each week and almost 180,000 colleagues and we hope that we can collaborate across industries and sectors to help create momentum and drive meaningful change.

“Only when the trajectory for global warming slows to a maximum of 1.5 degrees will we all know that we can truly live well for less now and in the future.”

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