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COINTURK FINANCE > Business > Morrisons Sets New Net Zero Goal for 2050
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Morrisons Sets New Net Zero Goal for 2050

Overview

  • Morrisons plans to achieve net zero emissions by 2050 across its full value chain.

  • The new strategy extends targets to include indirect emissions, addressing Scope 1, 2, and 3.

  • Morrisons reports a significant reduction in carbon emissions since 2019.

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Contents
What Are Morrisons’ Interim Targets?How Has Morrisons Progressed So Far?

Morrisons, the UK-based supermarket giant, has outlined a refreshed climate roadmap with clear targets for reducing greenhouse gas (GHG) emissions. This move underscores the company’s response to increasing pressure on corporations to address environmental impacts more comprehensively. Amid growing consumer demand for sustainability, these targets reflect Morrisons’ expanded commitment to environmental responsibility.

Morrisons had previously aimed to attain net zero emissions in its operations by 2035. The fresh approach now broadens this ambition to encompass the entire value chain, recognizing that nearly all the emissions are indirect emissions (Scope 3). The company has also set a new benchmark year of 2050 for achieving net zero emissions, as verified by the Science Based Targets initiative (SBTi).

What Are Morrisons’ Interim Targets?

The updated strategy involves achieving a 90% reduction in absolute Scope 1, 2, and 3 GHG emissions by 2050, calculated from a 2019 baseline. Additionally, a 72% cut is targeted for emissions from Forest, Land, and Agriculture (FLAG). Morrisons has also announced interim targets to decrease Scope 1 and 2 emissions by 80% and Scope 3 emissions by 40% by 2035. To ensure sustainability in sourcing, the company has committed to cease deforestation associated with primary commodities by 2025.

How Has Morrisons Progressed So Far?

Since 2019, Morrisons reports a 22% reduction in total carbon emissions, with specific decreases in Scope 1 and 2 emissions reaching 27%. Efforts contributing to these achievements include adopting energy-efficient practices, optimizing logistics for lower carbon output, and enhancing collaborations with suppliers. These preliminary results are part of the ongoing journey towards Morrisons’ ultimate sustainability goals.

Andrew Edlin, Head Of Sustainability at Morrisons, highlighted the comprehensive scope of the new commitments. He stated,

“The validation of these targets reaffirms Morrisons commitment to sustainability and the move to a 2050 target across the full value chain is a big step forward in our journey to net zero. We are taking upstream and downstream emissions of our operations into account including emissions created in making products, in our stores, transport systems and then end of life emissions too.”

Researchers have previously noted the significant impact supermarket food supply chains have on GHG emissions. Compared to past commitments, Morrisons’ renewed strategy reflects an evolving awareness of the importance of addressing not just direct emissions but also those from suppliers and consumers. This broadened focus is crucial in meeting the demands of modern environmental expectations.

The comprehensive approach Morrisons is taking indicates a trend in companies expanding their view beyond their immediate operations. With global pressures mounting for companies to address all facets of their carbon footprint, setting long-term commitments and interim targets ensures a structured progression towards larger climate objectives. Understanding the complexity and challenges of reducing indirect emissions remains key to fully realizing these ambitious goals.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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