Energy Efficiency, GHG Emissions - May 6, 2022
Loblaw Updates Emission Goals
Loblaw Companies Ltd. has committed to reaching net zero emissions by 2040 for Scope 1 and 2, and net zero emissions by 2050 for Scope 3. This follows the company’s continued progress on reducing its corporate carbon footprint by 35% from a 2016 baseline.
The company will also link ESG performance activities to the company’s short-term incentive program, beginning in 2022.
Loblaw set other goals, including the reduction of plastic waste by making all control-brand and in-store plastic packaging recyclable or reusable by 2025 and plans to send zero food waste to landfill by 2030. The company also seeks to achieve measurable food waste reductions in every one of its stores over the next 24 months.
The company also released a climate risk assessment guided by the Task Force on Climate-Related Financial Disclosures (TCFD) as part of its 2021 environmental, social, and governance (ESG) report.
“Loblaw is led by our purpose – helping Canadians live life well – and the responsibility to deliver a positive impact on the communities we serve,” said Galen G. Weston, President and Chairman, Loblaw Companies Limited, in a statement. “Our leaders and colleagues are passionate about making progress – whether we’re reaching or extending environmental targets, improving leadership representation, charting record giving, or closing in on our goal of feeding one million kids through the President’s Choice Children’s Charity. This report shows how we’re thinking about our ambitious goals and the hard work ahead.”
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