Reports & Commentary - Retail

The L’Occitane Group’s efforts to achieve net-zero by 2050 have been validated by the Science Based Targets initiative (SBTi).

Mars, Incorporated announced the pricing of a USD 2.5bn bond offering, including tranches of senior notes and sustainability notes.

REI Co-op pledged to source locally generated renewable energy in each of its 181 stores and to support clean energy projects.

The world’s second biggest fashion retailer, H&M, has formed a joint venture with a recycling group to collect, sort and sell used and unwanted garments and textiles.

Net Zero Now and L’Oréal are launching the Net Zero Salons Programme – a set of guidelines designed to help hair salons calculate, track and reduce GHG emissions.

The American home improvement company announced its goal to reach net-zero emissions across the company’s scope 1, 2, and 3 GHG emissions by 2050.

Global luxury jeweler Tiffany & Co has set new 2030 climate goals to support a new vision of achieving a net-zero carbon supply chain and operations base by 2040.

Yvon Chouinard, billionaire owner of Patagonia, is giving the entire company away to fight the Earth’s climate devastation, he announced.

The goals include procuring 100% renewable energy across the Neiman Marcus enterprise by 2030.

Loblaw is to achieve net-zero carbon emissions for operational footprint by 2040, and net-zero for Scope 3 emissions by 2050.

In an annual investor meeting, a proposal from shareholders urged Costco to adopt more aggressive measures to cut carbon emissions.

Building on existing efficiency programs and piloting new technologies, Meijer aims to reduce emissions by 50% by 2025.

Lidl GB has announced plans to help all British suppliers of fresh produce to achieve LEAF Marque certification within 24 months.

HSBC and Walmart have introduced science-based emissions targets into their sustainable supply chain finance programme.

UK’s Marks & Spencer has announced its first £850 million revolving credit facility, directly linked to the delivery of net zero targets.

Walmart will offer early invoice payments to suppliers reducing their emissions to avoid 1 Gt of supply chain emissions by 2030.

The Circular Future Fund will provide grants of between £150,000 to £300,000 for projects that re-think waste, shift consumer mindsets or develop new business models.

The Partnership will set science-based targets in line with limiting global temperature rise to 1.5°C for operations and supply chain (scope 1, 2 and 3).

The supermarket aims to reach net zero across its own operations five years ahead of original target.

Sainsbury's has announced it is accelerating its target to become net zero across its own operations by 2035 – five years earlier than previously scheduled.

Retailer M&S has set a new commitment to reach net-zero emissions across its entire supply chain and product category by 2040.

The action will include all of the products that are in its stores as well as throughout supply chains.

Online retailer Asos has published its ‘Fashion with Integrity 2030’, which includes a commitment to achieve net-zero across the full value chain by 2030.

Primark unveiled its first sustainability strategy, which aims to reduce fashion waste and halve carbon emissions across its value chain, among others.

Walmart has priced the company’s first green bond, a $2 billion offering intended to advance its goal of achieving total renewable energy.

With help from High Level Climate Action Champions and WBCSD, retailers have pledged their support to accelerate Race to Zero commitments from their peers.