Retailer Aims for Net Zero Status by 2040 with Support from Major Banks

  • Co-op unveils new ambitious sustainability targets
  • Reducing carbon emissions across supply chain
  • Aims for two thirds of suppliers in Science Based Targets initiatives by 2025
  • Targets a 650-tonne reduction in food waste annually
  • Increases annual funding to Levy Share for apprenticeships
  • Commitment to net zero status across operations by 2035 and whole business by 2040
  • First UK retailer with sustainability-linked financing facility in 2019 backed by major banks

The Co-operative has revealed new sustainability targets, including reducing carbon emissions across its supply chain and cutting food waste. The retailer has already met its original greenhouse gas target early and plans to have two thirds of suppliers enrolled in the Science Based Targets initiatives by 2025. Additionally, it will reduce food waste by 650 tonnes annually and double funding for apprenticeships through its Levy Share. These targets align with Co-op’s commitment to reach net zero status across operations by 2035 and the entire business by 2040. The retailer was the first UK company to adopt a sustainability-linked financing facility in 2019, backed by Lloyds Bank, Barclays, NatWest, INH Bank, and Bank of Ireland.

Factuality Level: 10
Factuality Justification: The article provides accurate information about The Co-operative’s new sustainability targets, including specific goals for reducing carbon emissions, food waste, and supplier participation in the Science Based Targets initiatives. It also mentions the retailer’s previous achievements and alignments with major banks. There is no sensationalism or opinion masquerading as fact, and the information is relevant to the main topic.
Noise Level: 4
Noise Justification: The article provides relevant information about The Co-operative’s new sustainability targets and its progress towards reducing carbon emissions and food waste. It also highlights the company’s commitment to reaching net zero status by 2035. However, it could benefit from more in-depth analysis of the implications and potential challenges of these goals, as well as additional context on the banks’ role in supporting these initiatives.
Financial Relevance: Yes
Financial Markets Impacted: Cooperative’s credit facilities, suppliers, and banks supporting Co-op (Lloyds Bank, Barclays, NatWest, ING Bank, Handelsbanken, and Bank of Ireland)
Financial Rating Justification: The article discusses the Co-operative’s new sustainability targets and its commitment to reducing carbon emissions across its supply chain, which can impact financial markets through changes in credit facilities and supplier relationships. Additionally, it mentions the involvement of major banks supporting these initiatives, making it financially relevant.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The focus is on Co-op’s sustainability targets and commitment to reducing carbon emissions, food waste, and achieving net zero status.

Reported publicly: www.retailsector.co.uk