Co-op launches new sustainability goals as it extends credit facility


The Co-op has launched a series of new sustainability and social targets linked to its credit facility.

The new goals include reducing carbon emissions across its supply chain, with the aim of having two thirds of suppliers enrolled in the Science Based Targets initiatives by the end of 2025, up from 37% currently.

It will also target a 650 tonnes reduction in food waste per year, and will double the annual funding to Co-op Levy Share, investing thousands in apprenticeships.

The new goals align with the its commitment to achieve Net Zero status across all its operations by 2035 and across its entire business by 2040. It comes as Co-op celebrated hitting its original greenhouse target ahead of its 2025 goalpost.

Co-op’s sustainability-linked Revolving Credit Facility is supported by lenders Lloyds Bank, Barclays, NatWest, ING Bank, Handelsbanken and Bank of Ireland.

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Co-op CFO Rachel Izzard said: “Our underlying financial strength has enabled us to suppot our members, our colleagues and their communities.

“These new targets reflect our commitment to the issues which matter most to our member-owners, including environmental stewardship and the reduction of carbon emissions and food waste across our business and supply chains.

“This also marks a further step forward towards our goal of achieving Net Zero across our operations by 2035. The banks supporting Co-op share our commitment to these important areas, and their backing will go a long way to facilitating the implementation and achievement of our plans.”



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