Aiming for Net Zero by 2040

  • Co-op sets ambitious new sustainability targets
  • Reducing carbon emissions in supply chain by 2025
  • 650 tonnes reduction in food waste annually
  • Doubling annual funding for Co-op Levy Share
  • Investment in apprenticeships
  • Net zero status by 2035, whole business by 2040
  • Co-op met original greenhouse gas target early
  • Sustainability-linked financing facility with major banks
  • Improved financial strength of the business

Co-op has revealed its latest sustainability targets, which include reducing carbon emissions across its supply chain and cutting food waste. The retailer aims to have two-thirds of suppliers enrolled in the Science Based Targets initiatives by 2025 and double annual funding for Co-op Levy Share, investing in apprenticeships. These goals align with its commitment to reach net zero status across all operations by 2035 and the entire business by 2040. The company met its original greenhouse gas target ahead of schedule. Supported by Lloyds Bank, Barclays, NatWest, ING Bank, and Bank of Ireland, these targets build on Co-op’s sustainability-linked financing facility from 2019.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Co-op’s new sustainability targets and its commitment to reducing carbon emissions, food waste, and achieving net zero status. It also mentions the support from various banks. However, it contains some repetitive information and includes a brief mention of JD Sports without providing context or relevance.
Noise Level: 3
Noise Justification: The article provides relevant information about Co-op’s new sustainability targets and its commitment to reducing carbon emissions and food waste. It also mentions the support from various banks. However, it could benefit from more in-depth analysis or context on the broader implications of these actions within the retail industry.
Financial Relevance: Yes
Financial Markets Impacted: Co-op’s credit facilities, Lloyds Bank, Barclays, NatWest, ING Bank, and Bank of Ireland
Financial Rating Justification: The article discusses Co-op’s new sustainability targets and its credit facilities supported by various banks. This has financial relevance as it involves the company’s financial management and partnership with financial institutions.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailgazette.co.uk