Environmental and sustainability targets are increasingly being given more prominence in company financial results. Supermarket giant Tesco released its interim financials for the six month period ended 23 August 2008 this week and bucked the general economic trend with an 11.3 per cent increase in pre-tax profits to £1.43bn compared to the same period the year before.
Greenbang had a quick look through Tesco’s results to pick out the its “community, environment and corporate social responsibility” performance. This included progress on reducing the number of plastic carrier bags used and the introduction of the UK’s first “environmental format” store early next year.
Here’s the headlines:
- Over 40 per cent reduction in single-use carrier bags achieved – on track for 50 per cent in 2009
- In April, Tesco launched a trial of product carbon labels on 20 own-brand products in UK stores. In September it extended the trial to stores in Ireland. The label appears on products in four categories: washing detergent, potatoes, orange juice and light bulbs.
- Met target to get 10m energy efficient light bulbs into Tesco customers’ homes.
- Continued to develop new environmental format store and will open the first of these in the UK early in 2009.
- Opened its third energy efficient store in August, in Lubartow, Poland. The store is powered by solar panels, wind turbines, a ground heat exchanger and recovers heat from freezers and chillers. The first eco store was opened in Japan at the end of August. Initiatives include solar car park lights, a low energy refrigeration system and dimmable lighting. In Thailand Tesco opened its second green store this August. The store saves up to 30 per cent energy compared to a conventional store and recycles its raw vegetable waste and used cooking oil into biofuels.
- By the end of this financial year, Tesco says it will have opened at least one ‘Environmental Store’ in each of the countries in which it operates.
Full results announcement here.