Ahold Delhaize Sets New Emission Targets, Adopts TCFD
International food retailer Ahold Delhaize made several sustainability-related announcements today, including setting new carbon emission reduction targets and supporting the Task Force on Climate-related Disclosures.
The company set new science-based targets for 2030, aiming to halve carbon emissions from its own operations, including stores, distribution centers, operations and offices, by that time, from a 2018 baseline. Ahold Delhaize and its local brands will accelerate investments in renewable energy and energy efficiency throughout their operations, improve refrigeration systems, and further move toward low-carbon distribution and logistics systems.
Additionally, the company committed to engaging suppliers and customers in addressing emissions from the overall value chain. Ahold Delhaize and its brands will partner with suppliers and engage consumers to reduce their emissions from the value chain by 15% by 2030, for example by increasing low-carbon products in their assortments and by reducing food and packaging waste. According to the company, the value chain comprises 95% of Ahold Delhaize’s overall impact on climate change.
Ahold Delhaize new target is in addition to the company’s 2020 goal to reduce relative emissions by 30% from 2008. The company committed to science-based targets in March 2019, and has had its targets approved by the Science Based Targets initiative (SBTi).
Ahold Delhaize has also announced support for the Task Force on Climate-related Disclosures (TCFD). The TCFD is an initiative established by the Financial Stability Board in 2015, with the goal of developing consistent disclosure standards for companies, to be used on a voluntary basis, in order to enable investors and other stakeholders to assess the companies’ climate-related financial risk. Many investors, including large investment management firms such as BlackRock and CPP Investments have begun requesting that their portfolio companies align their disclosures with TCFD and SASB standards.
Frans Muller, CEO of Ahold Delhaize, said:
“Climate change is impacting our planet and how our food is grown, and it will continue to change our business into the future. By setting ambitious new targets and by becoming a supporter of the Task Force on Climate-related Disclosures, Ahold Delhaize is committing to taking a leading role in mitigating this global crisis and preparing for a more resilient and healthy future”.