Skip to content
Search
AI Powered
Latest Stories

Co-op's net zero targets validated global body

headwinds amid rising inflation, supply-chain
iStock image
Getty Images

Co-op has become the first UK convenience retailer to have its net zero targets validated by the globally recognised Science Based Targets initiative (SBTi).

According to an announcement made by Co-op today (28), SBTi - the global body that assesses corporate climate targets - has validated the leading convenience retailer’s ambitious near-term and overall targets to become net zero across its own operations by 2035, and entire value chain by 2040.


Co-op, which operates 2,400 food stores across the UK, is also one of the first companies in the UK to set science-based targets for its forest, land and agriculture (FLAG) emissions.

The ratified targets include stretching commitments to reduce the absolute Scope 1 and 2 emissions from its own operations by 66% and absolute Scope 3 emissions from energy and industrial sources by 58.8% by 2030 from a 2016 baseline year.

Co-op has also committed to reduce absolute scope 3 FLAG emissions by 42.4% by 2030 from a 2016 base year. This is coupled with a stated target of no deforestation across its primary deforestation-linked commodities by the end of 2025.

The retailer, which launched its Climate Plan in 2021, has already made significant progress in reducing its carbon footprint including a 21 per cent reductionin Scope 3 emissions whilst also successfully more than halving (59 per cent) its Scope 1 & 2 emissions across its own operations.

This has been achieved through investment in low-carbon technologies including reducing energy use, phasing in lower impact refrigerants, and reducing fuel use for transport as well as action taken by Co-op and its suppliers to reduce the carbon intensity of key lines such as meat and dairy.

Shirine Khoury Haq, Co-op Group CEO and Co-Chair of the Government Net Zero Council said, “Reducing our impact on the planet is so important, which is why we are now building on the progress we have already made to date by setting ourselves challenging and robust targets. I’m delighted and proud that we are the first UK convenience retailer to have net-zero targets validated by the globally recognised body, SBTi. We are committed to maintaining the positive momentum we have already achieved in the decarbonisation of our supply chain.”

More for you

Confex

Confex expands with addition of new members

Leading buying group Confex has added three new members, further strengthening its buying power and geographical reach.

As reported today (8), Ahmed Foods, A C Georgiades and Regency Service and Solutions have joined Confex. Their combined turnover adds an impressive £56.2 million to Confex's turnover, which further bolsters its strength and buying power as a group.

Keep ReadingShow less
Budget to burden Scottish c-stores with 'tens of millions they cannot afford'

iStock image

Budget to burden Scottish c-stores with 'tens of millions they cannot afford'

Eye watering increases to employer NI contributions in this year’s UK Budget, alongside a 77p increase to the National Living Wage (NLW), could add around £2,400 to the cost of employing a full-time member of staff, Scottish Grocers Federation stated today (8).

Convenience staff across Scotland worked almost 500 million hours last year. Over 55,000 people are employed across the Scottish convenience sector, many of whom fall within the scope of the increase to National Insurance Contributions (NIC) and the NLW rise, meaning that together the changes could cost retailers tens of millions in additional outgoings. Despite the planned uplift in Employment Allowance relief from £5,000 to £10,500.

Keep ReadingShow less
New report outlines path for food sector to achieve emission reduction

(Photo by Leon Neal/Getty Images)

New report outlines path for food sector to achieve emission reduction

The Institute for Grocery Distribution (IGD) has released the report, "A Net Zero Transition Plan for the UK Food System", providing a framework for the food sector to achieve 70 per cent emissions reductions in agriculture and to fully decarbonize heat, electricity and transport.

Commissioned by IGD and developed by consultants EY and WRAP, the first of its kind report provides an independent, evidence-based view for how the UK food system in its entirety, can reduce Greenhouse Gas emissions in line with a 1.5degree SBTi outcome and to meet the UK’s legally binding national target.

Keep ReadingShow less
Ministers urged to tax unhealthy foods

iStock image

Ministers urged to tax unhealthy foods

Ministers are getting under pressure to impose taxes on packaged foods containing high content of salt and/or sugar.

In a plea addressed to the chancellor, Rachel Reeves, and the health secretary, Wes Streeting, representing 35 health groups, it is highlighted that taxing unhealthy foods such as cakes, sweets, biscuits, crisps and savoury snacks would generate billions of pounds for the Treasury and cut the number of people becoming ill as a result of a bad diet.

Keep ReadingShow less
The-Fed-logo-RGB-Red-Trans-background.png
The Fed mourns ex-President Margaret Adams, retail pioneer
The Fed mourns ex-President Margaret Adams, retail pioneer

The Fed puts thousands of pounds back in members’ pockets

Tireless work by the Federation of Independent Retailers (the Fed) Contact Centre has seen almost a quarter of a million pounds recovered from news wholesalers in 2024.

The latest figures show that £187,130 has been recovered in missing credits, missing vouchers and recharges, as well as money saved through waived deposits for news wholesale accounts.

A further £40,338 was recovered in restitution for instances of late supply or missing supply having an impact on home news deliverers, taking the overall total paid back to members this year to date to £227,468.

“Once again our Contact Centre has delivered for members," said The Fed’s National President, Mo Razzaq. "This is testament to the tireless work of the team, ensuring Fed members are not left out of pocket when things go wrong.

“The amount of money the team has recovered in 2024 is further proof that, for independent retailers, it really does pay to be a member of the Federation.”

Keep ReadingShow less