MONTREAL, Nov. 7, 2023
/CNW/ - Following its commitment in October
2022 to rigorously evaluate the feasibility and costs of
achieving the Science Based Targets initiative (SBTi) Net-Zero
Standard, METRO (METRO) (TSX: MRU) reviewed and adjusted the scope
of its existing objective by committing to set near-term
company-wide greenhouse gas (GHG) emission reduction targets in
line with the SBTi Standard.
METRO's new near-term science-based targets (SBT), which have
yet to be approved by SBTi, are consistent with the level of
decarbonization required to keep global temperature increases to
1.5°C compared to pre-industrial temperatures. Our targets with a
2023 base year will consist of:
- Reducing absolute scope 1 and scope 2 GHG emissions by 42% by
2030;
- Having 45% of our suppliers by spend with science-based targets
by 2028;
- Reducing absolute scope 3 GHG emissions from purchases of goods
and services by 25% by 2030;
- Reducing absolute scope 3 GHG emissions from downstream
transportation and distribution by 25% by 2030; and
- Reducing scope 3 FLAG GHG emissions by 30% by 2030.
Our plan outlines six emission reduction priorities: use natural
refrigerant; invest in renewable energies; electrify part of our
fleet of vehicles and improve its fuel efficiency; engage with key
suppliers to reduce their emissions; install EV chargers for
customers; and reduce food waste in the value chain. We will
continue reviewing our priorities and goals as technologies evolve
and will keep evaluating the feasibility of a Net-zero target.
METRO becomes one of the first Canadian companies to commit to
set targets to reduce GHG emissions originating from 'forests, land
and agriculture' (FLAG). With our new commitment, we are not only
tackling emissions related to energy and industry, but also
our scope 3 FLAG emissions within our supply chain.
"Committing to set near-term and FLAG targets, while continuing
to evaluate a Net-zero target in our decarbonization plan, is the
best path forward for our company to address climate change. We are
setting science-based targets that are ambitious but realistic. We
are also demonstrating our commitment to review our goals and our
priorities regularly as technologies evolve" said Eric La Flèche,
President and Chief Executive Officer.
About METRO Inc.
With annual sales of more than $19
billion, METRO Inc. is a food and pharmacy leader in Québec
and Ontario, providing employment
to more than 95,000 people. Its purpose is to Nourish the health
and well-being of our communities. As a retailer, franchisor,
distributor, manufacturer, and provider of eCommerce services, the
company operates or services a network of 975 food stores under
several banners including Metro, Metro Plus, Super C and Food
Basics, and 645 drugstores primarily under the Jean Coutu, Brunet,
Metro Pharmacy and Food Basics Pharmacy banners. For more details,
visit corpo.metro.ca.
Forward-Looking Statements
This press release contains forward-looking statements which
reflect management's expectations relating to expected future
events including, but not limited to, statements relating to GHG
emissions reduction targets and their achievement as well as their
approval by SBTi. These forward-looking statements typically
contain future or conditional tense verbs and the words "target",
"will", "risk", "objective" "believe", "plan" or other similar
terms. These forward-looking statements are not facts, but only
reflections of management's estimates and expectations. Although
METRO believes that these statements are based on information and
assumptions which are current, reasonable and complete, these
statements are necessarily subject to a number of factors that
could cause actual results to differ materially from management's
expectations as set forth in such forward-looking statements for a
variety of reasons, including market, climate and general economic
conditions and the risks and uncertainties discussed in the "Risk
Management" section of its 2022 Annual Report.
The forward-looking statements included in this press release
are made only as of the date hereof and METRO does not undertake to
publicly update these forward-looking statements to reflect new
information, future events or otherwise. Considering these risks,
uncertainties and assumptions, the forward-looking events contained
in these forward-looking statements may or may not occur. METRO
cannot assure that projected targets, approvals, results or events
will be achieved.
SOURCE METRO INC.