Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Sainsbury's targets 2040 for net zero emissions, criticizes UK goal

Stock MarketsJan 27, 2020 07:13PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

LONDON (Reuters) - Sainsbury's (L:SBRY) committed itself on Tuesday to have net zero greenhouse gas emissions by 2040, a decade ahead of the British government's own target which it said "isn't soon enough".

Britons have become increasingly aware of the urgency of addressing climate change, spurred on by climate campaigners including veteran naturalist and broadcaster David Attenborough and Swedish teen activist Greta Thunberg.

Sainsbury's, Britain's second-biggest supermarket group which trades from some 2,300 locations, employs 185,000 people across Britain and Ireland and has over 27 million customers each week, said it would spend 1.0 billion pounds ($1.3 billion) to hit the target.

With consumers demanding less waste and action on the environment, retailers are responding and Sainsbury's said its focus would be on reducing carbon emissions by increasing its use of renewable energy, lowering water consumption, cutting the use of plastic, increasing recycling and tackling food waste.

"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 ... because 2050 isn't soon enough," Sainsbury's Chief Executive Mike Coupe said in a statement.

"Over the next 20 years we will...transform the way we do business and put environmental impact at the forefront of every decision we make," he said.

Coupe steps down in May after six years as CEO and will be succeeded by retail and operations director Simon Roberts.

Sainsbury's said its current carbon footprint is one million tonnes - a 35% absolute reduction in the last 15 years despite its space increasing by 46% over the same period. It said it has invested 260 million pounds in more than 3,000 initiatives over the last decade.

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

It plans to work collaboratively with suppliers and will ask them for their own carbon reduction commitments.

Sainsbury's latest move builds on a pledge, made in September, to halve plastic packaging by 2025 - the first UK supermarket to make a commitment of this scale.

Having reduced plastic packaging by just 1% in 2018, Sainsbury's said a "transformational leap in thinking" was required to tackle the almost 120,000 tonnes it uses a year.

Last week Tesco (L:TSCO), Britain's biggest retailer, said it would remove plastic wrapping from its multipack tins.

The move is part of its pledge to remove one billion pieces of plastic packaging from products in its UK stores by the end of 2020.

($1 = 0.7608 pounds)

Sainsbury's targets 2040 for net zero emissions, criticizes UK goal
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email