Speaking at the Coca-Cola Retail Research Council Global Forum, in Beijing, Tesco's chief, Sir Terry Leahy said, “we must go green,” because every £1 spent now tackling climate change, saves our children between £5 and £20 at today's value, Guardian reports.
According to Leahy, businesses should overcome barriers of price, and incentivize customers to buy greener products. Consumers are directly and indirectly responsible for 60 percent of carbon emissions.
At Tesco, the company has three strategies: greening the company; greening their supply chain; and greening its customers by making eco-choices easier and more affordable (the company introduced a carbon label trial earlier this year).
The retailer is aiming to cut its 2006 baseline of 4.47 million tones of CO2 emissions in half by 2020. In addition, it is aiming to reduce CO2 emissions from all new stores built between now and 2020 by half.
But Leahy says companies can't sacrifice green for growth. Companies must do both because reducing emissions also cuts costs. In the UK alone, Tesco has saved almost 2 billion plastic bags by providing a greater range of reusable bags. At its Google Distribution Center, the electricity and heating needs are met with a straw-powered Combined Heat and Power plant, which generates 5 megawatts of electricity.
Tesco is also transporting freight by canal and using windmills in an effort to reduce emissions.
Tesco released its 2007 corporate responsibility report last summer.
