Convenience retail chain Co-op’s net zero targets are now SBTi-verified.
The retailer has announced that validation from the Science Based Targets initiative (SBTi for short) comes on the back of “significant progress” that it has already made to reduce its environmental impact over recent years.
Co-op said it has already achieved a 21% reduction in Scope 3 emissions and a 59% reduction in Scope 1 and 2 emissions since 2016. Now, the SBTi – which is the global body that assesses corporate climate targets – has validated Co-op’s plans to reduce 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.
The retailer, 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. John Lewis Partnership and Sainsbury’s are other retail groups to have committed to this already.
Specifically, Co-op has announced SBTi-verification for it to cut 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.
According to Co-op, its environmental progress to date has been achieved through investment in low-carbon technologies including reducing energy use, phasing in lower impact refrigerants, and reducing fuel use for transport. Action taken by Co-op and its suppliers to reduce the carbon intensity of key lines such as meat and dairy has also contributed to its work in this space.
Shirine Khoury Haq, Co-op Group CEO and co-chair of the government’s Net Zero Council, commented: “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.”
[Image credit: Co-op]
