Co-op net zero targets validated by Science Based Targets initiative (SBTi) in a convenience retailer first
28 March 2024
- In a convenience retailer first – Co-op’s ambitious targets to reach net zero across own operations and entire value chain are validated by the official global body
- The validation comes as significant progress is already made by Co-op across targets – including 21% reduction in Scope 3 emissions and 59% in Scope 1 & 2 successfully achieved since 2016
Co-op has become the first UK convenience retailer to have its net zero targets validated by the globally recognised Science Based Targets initiative (SBTi).
SBTi - the global body that assesses corporate climate targets - has validated the leading convenience retailer’s ambitious near-term and overall targets to become net zero across its own operations by 2035, and entire value chain by 2040.
Co-op, 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.
The ratified targets include stretching commitments to reduce the 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 year.
Co-op has also committed to reduce 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.
The retailer, which launched its Climate Plan in 2021, has already made significant progress in reducing its carbon footprint including a 21% reduction in Scope 3 emissions whilst also successfully more than halving (59%) its Scope 1 & 2 emissions across its own operations.
This has been achieved through investment in low-carbon technologies including reducing energy use, phasing in lower impact refrigerants, and reducing fuel use for transport as well as action taken by Co-op and its suppliers to reduce the carbon intensity of key lines such as meat and dairy.
Shirine Khoury Haq, Co-op Group CEO and Co-Chair of the Government Net Zero Council said: “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.”
Co-op’s Climate Plan outlines three core principles in its commitment to reach net zero: We’ll follow the science, we’ll work for a fair and just transition, and we’ll co-operate to drive systems change. These are underpinned by projects** which include a focus on natural restoration and innovation, campaigning for climate action, and partnerships to drive climate innovation and the delivery of water security within Co-op’s supply base.
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Editor notes:
Link to Co-op’s Climate Plan here - https://www.coop.co.uk/climate
*against a 2016 baseline
** Projects include:
- We’ll follow the science in our target setting and decision making. Above all else we must rapidly reduce the carbon we put into the atmosphere:
• Reducing energy use and phasing in lower impact refrigerants across Co-op property portfolio, and optimising logistics to reduce fuel use
• Working in collaboration with suppliers to identify priority decarbonisation actions and build these into joint business plans
• Developing new programmes with meat and dairy suppliers e.g. piloting the introduction of a bonus payment that rewards beef farmers who have invested in lower carbon production practices
• Helping develop and test new carbon reduction solutions through Co-op’s Carbon Innovation Fund
2 We’ll work for a fair and just transition for people and planet. Solving the climate crisis can’t come at the expense of those who can least afford it. A fair transition to Net Zero for people across the world:
• Supporting climate adaptation for farmers and workers on the frontline of the climate crisis e.g. investing in Fairtrade Africa’s climate strategy, the Fairtrade Alliance for Climate Supply Chains in Africa (FACSCA) to take meaningful action against climate change
3 We’ll co-operate to drive systems change because we recognise that we are stronger and more effective when we work with others:
• Investing in landscape-scale projects, such as the RSPB Peatland Restoration scheme, that will turn hundreds of hectares of peatland from a carbon source into a carbon sink
• Helping to improve access to better data along the food and drink supply chain by taking a leading role in the BRC Mondra Coalition, Defra Food Data Transparency Partnership, WRAP Retailer Net Zero Collaborative Action Programme and other initiatives. This is a critical enabler to help target carbon reduction efforts and monitor and reward progress
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net zero emissions before 2050
The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets
About Co-op:
The Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance, and legal services, recognised as an industry leader for its sustainability and community-led programmes. Owned by over five million UK consumers, the Co-op operates 2,400 food stores, over 800 funeral homes and provides products to over 5,100 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.
Further information:
Lauren Chambers
Co-op Press Office
M: 07595567282
E: Lauren.chambers@coop.co.uk / pressoffice@coop.co.uk