// Co-op sets out plans to achieve net zero for its direct and indirect carbon emissions by 2040
// The move will see Co-op Power use its collective buying might to help Co-op suppliers
Co-op has announced a new ten-point climate plan that sets out blueprint to achieve net zero for its direct and indirect carbon emissions by 2040.
The retailer said it will expand wind and solar energy buying group as part of Co-op Power.
Co-op Power puts plans in place to grow the business significantly over the next few years with targeted growth of 30 per cent for 2021.
The move will see Co-op Power - which is the biggest energy buying co-operative in the UK – use its collective buying might to help Co-op suppliers, and other businesses, save money and source purely green, low-cost energy in an ethical, sustainable way.
As part of its growth plans, Co-op Power will double the amount of Power Purchase Agreement’s (PPA’s) to help boost renewable capacity and reduce carbon intensity of electricity.
This will not only guarantee a source of green but also guarantee providence of power, whilst helping to fund future green projects.
Co-op Power’s collective, co-operative buying model allows it to buy and distribute 100 per cent REGO renewable energy from sustainable wind and solar, not biomass, making it on average 4.2 per cent cheaper than its competitors.
“We recognise the climate emergency and accelerate our response, more so than ever it is vital that we continue to work with our own brand supply chain and other businesses to reduce costs and reduce carbon,” Co-op Power managing director David Roberts said.
“Expanding Co-op Power and increasing our PPA’s will not only guarantee a source of green but reinforces our climate commitments and a fairer and more sustainable future for us all. 60 per cent of our supply chain admit they don’t have the resource to reach net zero alone, co-operation is in our DNA and we are keen to share our expertise with others.
“This will not only help us achieve the targets set out in our ten-point plan, but also promote ethical and sustainable practices that will help build the UK’s renewable energy capacity.”
Co-op Food chief executive Jo Whitfield said: “We are facing a monumental climate change crisis entirely of our own making. We must recognise that we are in part responsible and that we have to do more and quicker.
“Emissions from our operations are where we have the greatest responsibility and can make the biggest difference.
“This is a hugely significant year and the world will be watching as the UK Government hosts the largest climate change conference ever (COP-26).
“Just as the government must be ambitious in delivering against its own commitments, we must all be bold and take collective action to tackle climate change.”