Supermarkets go green – level 3
The pressure is on for supermarkets to improve their environmental credentials. However, customers and investors are often reluctant to accept higher prices or lower income as a trade-off.
According to the CEO of Britain’s biggest retailer Tesco, the industry is facing challenges as the company is shifting to net zero emissions. Ken Murphy said there was a small amount of very committed customers who were willing to pay more; however, the majority of people weren’t.
Customers expect companies to find ways to innovate and to make sustainable products affordable. On the other hand, investors insist that supermarkets increasingly focus on environmental goals; however, they don’t want a lower income on their investment as a result.
102-year-old Tesco has planned to hit a net zero carbon target by 2035 by using renewable energy, cutting plastic, and encouraging more sustainable diets. The company turned to vertical strawberry farming to cut water use, and it introduced unwashed potatoes that have a longer shelf life.
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