Which companies are setting early targets to cut carbon footprint?

Highlights 

• M&S pledged to become fully net zero by 2040, 10 years ahead of UK Government’s target.
• It aims to cut back its carbon footprint by a third by 2025 from a 5.7 million tonnes 2017 baseline.
• Around half of the FTSE100 companies are a part of UN’s Race to Zero campaign.

Leading UK-based global retailer Marks & Spencer (LON: MKS) has pledged to cut back its carbon footprint by a third by 2025 from a 5.7 million tonnes 2017 baseline, and eventually become fully net zero by 2040, which will be 10 years ahead of the UK Governments net zero target. Carbon neutrality was achieved by the company in 2012. It will reduce its carbon footprint by controlling the carbon emissions across its own operations, its entire supply chain and its products.

M&S has re-established its Plan A sustainability programme and is simultaneously bringing its “Look behind the label” campaign back to life, which it started in 2006. The campaign will help M&S create a more sustainable business. The company has aligned its operations and goals with the UN’s target of limiting global warming to 1.5 degree C.

To reach its 2040 target, three key initiative are being taken by the company. Firstly, it has selected 100 staff as “carbon champions” to drive net-zero delivery. Secondly, it is focusing on a programme to create awareness about carbon-related risks and opportunities. And lastly, it has set up an online platform “Green Network” where employees can come forward and share their innovative ideas.

Apart from M&S, many other companies are taking initiatives to set green goals. Around half of the FTSE100 companies have aligned themselves with the UK’s net zero by 2050 target and have signed up for the Race to Zero campaign of the UN, which comprises of over 3,000 companies globally that strive to achieve net zero carbon emissions by 2050.

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Let’s take a look at some of the LSE listed companies which have set their own net zero targets to fight climate change.

Marks and Spencer Group Plc (LON: MKS)

London-headquartered Marks and Spencer Group Plc’s current market capitalisation is £3,730.20 million and it has given a return of 93.07% in 1 year. The previous close price of Marks and Spencer Group Plc’s shares was GBX 190.50 as on 29 September 2021.

J Sainsbury plc (LON: SBRY)

Trading as Sainsbury's, J Sainsbury plc, is one of the leading retailers across the UK. In line with the Paris agreement, it has aligned itself with the target of reaching net zero emissions by 2040. Its current market capitalisation stands at £6,773.39 million and it has given a return of 47.84% in 1 year. The previous close price of J Sainsbury plc’s shares was GBX 290.50 as on 29 September 2021.

Tesco PLC (LON: TSCO)

UK-based global retailer of groceries and general merchandise Tesco PLC is listed on the main market of the London Stock Exchange since 1947. It has aligned its operations with the UK Government’s target and aims for net-zero emissions across its supply chain by 2050. Its current market capitalisation stands at £19,831.83.39 million and it has given a return of 19.22% in 1 year. The previous close price of Tesco PLC’s shares was GBX 256.50 as on 29 September 2021.

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BT Group plc (LON: BT.A)

London-headquartered BT Group plc is a leading UK-based global telecommunications holding company. Recently, the company has announced its plans to accelerate its net zero target from 2045 to 2030. Its current market capitalisation stands at £16,137.47 million and it has given a return of 65.76% in 1 year. The previous close price of BT Group plc’s shares was GBX 162.70 as on 29 September 2021.

Unilever plc (LON: ULVR)

UK-based consumer goods company Unilever plc provides beauty and personal care, home care, and food and refreshments products across the globe. It has set a target to reach net zero emissions by 2039 and use carbon credits afterwards. It has a significant market capitalisation of £105,049.22 million. The previous close price of Unilever plc’s shares was GBX 4,063.50 as on 29 September 2021.

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