Less Ads, More Data, More Tools Register for FREE

Britain's M&S aims to be fully net zero on emissions by 2040

Thu, 30th Sep 2021 00:01

LONDON, Sept 30 (Reuters) - Marks & Spencer pledged
on Thursday to become net zero in carbon emissions across its
own operations, its entire supply chain and its products by
2040, ten years ahead of a government target for Britain.

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

Retailers have responded by cutting waste and their use of
plastic, although some environmental groups have criticised
these efforts as "greenwashing".

The M&S target is more ambitious than one set out by Tesco
, Britain's biggest retailer, last week.

M&S, which sells food, clothing and homeware, launched a
sustainability programme in 2007 and in 2012 became the first
major carbon neutral retailer for its direct emissions.

It wants to cut its total carbon footprint by a third by
2025 and has committed to zero deforestation in sourcing palm
oil and soy by 2025, using more sustainable fibres by 2025 and
supporting suppliers to advance lower carbon farming methods.

"This won't be easy. We need to transform how we make, move
and sell our products to customers and fundamentally change the
future shape of our business," M&S CEO Steve Rowe said.

To get customers on board, the retailer will now reward the
12.5 million members of its "Sparks" loyalty scheme with treats
if they donate unwanted clothes to British-based charity Oxfam.

In May, Britain reaffirmed its commitment to achieve net
zero greenhouse gas emissions by 2050, a pledge it hopes will
spur on other nations before November's COP26 climate summit.

Last month, M&S upgraded its profit outlook after a jump in
demand for food in its home market and an online clothes sales
surge indicated a turnaround plan was working.
(Reporting by James Davey; Editing by Alexander Smith)

Related Shares

More News
Today 08:53

TOP NEWS: Kingfisher swoops in to snatch British Land finance chief

(Alliance News) - Kingfisher PLC has hired the chief financial officer of British Land Co PLC to be its own CFO, the two companies said on Monday.

14 Jun 2024 17:06

FTSE 100 logs longest weekly losing run since March 2020, BoE decision on tap

UK CPI, BoE decision due next week *

14 Jun 2024 17:00

LONDON MARKET CLOSE: FTSE 100 ends week lower as Paris slumps again

(Alliance News) - Stock prices in London closed lower on Friday, but the FTSE 100 avoided the deeper sell-off seen on the continent, where political u...

14 Jun 2024 15:36

London close: Stocks fall amid French political concerns

(Sharecast News) - London stocks were still in the red by the close on Friday, mirroring a broader European selloff driven by political uncertainty in...

14 Jun 2024 12:06

LONDON MARKET MIDDAY: Political uncertainty puts pressure on Europe

(Alliance News) - Markets in Europe took a hit at midday on Friday, as political uncertainty made investors feel uneasy.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.