Business
J Sainsbury plc to become Net Zero by 2040
J Sainsbury plc to become Net Zero by 2040.
About this update from J Sainsbury Plc
[{"type":"text","content":"\n \nRNS Number : 0707B Sainsbury(J) PLC 28 January 2020 \n\n28 January 2020\nJ Sainsbury plc to become Net Zero by 2040\nCommitting £1 billion over twenty years to achieve this\n· Commitment will see Sainsbury's business and operations become Net Zero in line with the goal to limit global warming to 1.5°C, the highest ambition of the Paris Agreement*\n· Focusing on reducing carbon emissions, food waste, plastic packaging, water usage and increasing recycling, biodiversity and healthy and sustainable eating\n· Sainsbury's will work collaboratively with suppliers and will ask suppliers for their own carbon reduction commitments \n \nSainsbury's has today committed to investing £1 billion over twenty years towards becoming a Net Zero business across its own operations by 2040, aligned to the highest ambitions of the Paris Climate Change Agreement and a decade ahead of the UK Government's own target.\nThe retailer's current carbon footprint is one million tonnes, which is a 35% absolute reduction in the last 15 years despite its space increasing by 46% over the same time frame. For the last six years Sainsbury's has been awarded an A rating for taking action on Climate Change by the CDP, the highest rating of any UK supermarket.\nSainsbury's will use the £1 billion investment to implement a programme of changes, with a focus on reducing carbon emissions, food waste, plastic packaging and water usage and increasing recycling, biodiversity and healthy and sustainable eating. \nThe investment will enable the business to fulfil Scope one and Scope two emissions, putting the business on course for Net Zero a decade ahead of the UK government's deadlines. \nThe retailer will work with the Carbon Trust to assess emissions and set science-based targets for reduction, publicly reporting on progress every six months. The targets will align the business with the goal to limit global warming to 1.5°C, the highest ambition of the Paris Agreement. \nSainsbury's will work with suppliers to set their own ambitious Net Zero commitments, in line with the Paris Agreement goals.\nSainsbury's £1 billion investment will not impact net debt reduction targets. Sainsbury's continues to expect net debt to reduce by at least £300 million in 2019/20 and £750 million over a three year period.\nMi...