GlobalData offers a comprehensive analysis of Co-operative Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Co-operative Group‘s ESG performance. GlobalData’s company profile on Co-operative Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Co-operative Group, a UK-based company, is dedicated to achieving net zero by 2040 for both operations and products as part of its commitment to addressing climate change. The company is rapidly reducing its carbon and greenhouse gas (GHG) emissions across scope 1, scope 2, and scope 3 to align with its climate targets. In 2022, the company reported emissions for Scope 1 and 2 totaling 288 ktCO2e, reflecting a 56% reduction from 2016.
Throughout 2022, carbon emissions generated from company's business operations have sustained a 10% reduction. In 2023, company planned to unveil updated carbon reduction targets extending to 2030, aligning with the guidance for limiting the global average temperature increase to 1.5ºC. The company is actively monitoring and reporting on its performance data related to climate change, including total energy use, scope 1 GHG emissions from refrigeration and transport, scope 2 GHG emissions from electricity, and building energy use. The Co-operative Group is also focused on reducing its direct emissions from running the business and increasing the use of electricity from renewable sources.
To achieve its net-zero targets, the Co-operative Group has taken several steps and made investments. It has been working on improving the robustness of supply chain emissions data and has reinforced its commitment to reduction science-based targets. The company has also engaged with the government on various issues, such as reforming business rates and banning single-use plastics. Additionally, the Co-operative Group has submitted written responses to government consultations on responsible sourcing, waste and resources, public health, and groceries code adjudicator, among others.
In conclusion, the Co-operative Group's steadfast commitment to achieving net zero by 2040 reflects a proactive stance in addressing climate change. Through substantial emissions reduction, supply chain improvements, and active engagement with the government, the company demonstrates a comprehensive approach to sustainability and environmental responsibility.