The investment will fund programmes to reduce carbon emissions, food waste, plastic packaging and water usage
UK supermarket chain Sainsbury’s has pledged to invest £1bn over the next 20 years to bring its greenhouse gas emissions to net zero.
The funding will be used to reduce carbon emissions, food waste, plastic packaging and water usage.
Sainsbury’s aims to become a ‘net zero’ company ten years ahead of the government’s recommended guidelines.
In 2019 the UK government passed laws that require the country to bring all greenhouse gas emissions to net zero by 2050.
“Our commitment has always been to help customers live well for less, but we must recognise that living well now also means living sustainably,” said Sainsbury’s’ recently retired CEO Mike Coupe.
“We have a duty to the communities we serve to continue to reduce the impact our business has on the environment and we are committing to reduce our own carbon emissions and become net zero by 2040, ten years ahead of the government’s own targets, because 2050 isn’t soon enough.”
These targets also align the retailer with goals set out in the Paris Agreement to limit global warming to 1.5°C.
“We recognise that we have a once in a lifetime opportunity to make the changes needed to help the planet exist sustainably,” Coupe continued.
“Only when the trajectory for global warming slows to a maximum of 1.5°C will we all know what we can truly live well for less now and in the future.”
Sainsbury’s is expected to work with the Carbon Trust to achieve its goals and will publish a progress report biannually.
Speaking about the partnership, Hugh Jones, MD Advisory Services of the Carbon Trust, said: “The Carbon Trust has worked with Sainsbury’s to set science-based targets for its own operations and is now working to extend these targets to the value chain.
“Sainsbury’s goal to get to net zero by 2040 is ambitious and will help raise the bar for the sector.”
Today, the retailer stocks beauty products across hair, skin, bath and body care, as well as fragrance and make-up.
Brands include Nivea, Simple, Nip+Fab, Bulldog and Batiste.