GlobalData offers a comprehensive analysis of Woolworths 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 Woolworths Group‘s ESG performance. GlobalData’s company profile on Woolworths 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.
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Woolworths Group, a leading retail company, aspires to reduce its emissions in line with the Science Based Target Initiative (SBTi) and be a net positive business by 2050. The company aims to achieve a 42% reduction in scope 1 and 2 emissions and 100% renewable electricity by 2025. The company's medium term goals include 63% reduction in scope 1 and 2 emissions and 19% reduction in Scope 3 emissions by 2030. In the long term, the company aspires to reach net positive emissions in its own operation, comprising scope and 2 emissions.
In the 2023 emission inventory, location-based data revealed Scope 1 emissions at 482,624 tCO2e, Scope 2 emissions at 1,502,550 tCO2e, and a total of Scope 1+2 emissions amounting to 1,985,174 tCO2e. Meanwhile, market-based figures indicated Scope 1 emissions at 482,624 tCO2e, Scope 2 emissions at 1,458,957 tCO2e, and total Scope 1+2 emissions of 1,941,581 tCO2e. The overall Scope 3 emissions for the year reached a total of 29.7 million tCO2e. Notably, the company achieved a Scope 1+2 emissions reduction of 30.6% in 2022 and 36.4% in 2023 compared to the 2015 baseline.
The company acknowledges the importance of managing environmental risks, including climate change, and has dedicated sections in its 2023 Annual Report and Sustainability Report to address these issues. Woolworths Group has taken significant steps towards emission reduction and has plans for further action. The company has developed and overseen environmental sustainability and governance initiatives, including strategies for climate change, carbon emissions reduction, and responsible sourcing.
In summary, Woolworths Group is committed to achieving its long-term goal of becoming net positive by 2050 and actively reducing carbon emissions. The company has set interim targets and demonstrated significant progress in this direction. Notably, the company underscores sustainability through investments in renewable energy and a steadfast commitment to sustainable sourcing. Woolworths Group's commitment to environmental sustainability is evident through its focused efforts in managing environmental risks.
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