Distributed Energy Resources, Energy Efficiency, GHG Emissions - August 14, 2023
Tesco’s Targets Validated by SBTi
Tesco outlined a plan for emissions reduction across its own operations and value chain, and its goals were validated by the Science Based Targets initiative (SBTi).
The grocery store chain’s targets include stretching interim commitments to reduce absolute Scope 1 and 2 emissions from its own operations by 85% by 2030 from a 2015 baseline year, absolute Scope 3 emissions from energy and industrial sources by 55% by 2032 from a 2019 baseline year, and absolute Scope 3 emissions from FLAG emissions by 39% by 2032 from a 2019 baseline year.
Tesco has committed to become carbon neutral across its own operations by 2035 and value chain by 2050.
“With the effects of climate change now upon us, we’re absolutely committed to achieving our target of net zero by 2050,” said Tesco Group CEO Ken Murphy in a statement. "It will require us to transform the way we run our business, from how we produce our products in partnership with our suppliers, how we run our stores and transport network, and how we encourage our customers to make healthy and sustainable choices. We’ve led the way on action on climate change, from adopting 100% renewable electricity across the Group, to scaling innovations in our supply chains.”
Tesco Group adopted 100% renewable electricity, achieved an absolute emissions reduction in its own operations of 55% in 2022-2023 against a 2015 baseline, and decarbonized its home delivery fleet so all home delivery vans will be fully electric by 2030.
The company also introduced the UK's first commercial electric HGVs in 2021 with three operating currently, completed the roll-out of the UK’s largest network of retail EV charging points, and issued over £1 billion in sustainability-linked bonds, which are linked to achievement of its Scope 1 and 2 emission reduction targets.
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