Tesco CEO Ken Murphy has called on politicians to stand by their net zero commitments and give businesses the confidence needed to invest.
The plea comes as Murphy unveiled the expansion of one of the grocer’s key agricultural innovation initiatives, the largest commercial field trial of low-carbon fertilisers in the UK.
Speaking at the Reuters IMPACT event in London, Murphy explained green innovation in the food industry could be transformational in terms of reducing costs and carbon, protecting food security and stimulating green growth.
However, he highlighted that levels of investment in the UK were well below the OECD average.
Murphy said Tesco would expand its trial of low-carbon, mostly domestically produced fertilisers.
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The move aims to drive a tenfold rise in the amount of hectares being cultivated with low-carbon alternative fertilisers for next year’s growing season.
The supermarket also explained it would share its findings to help other businesses.
The news comes after conventional fertiliser costs rose by as much as 140% last year, according to the retail giant.
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