Magnit Sustainability Profile
Magnit, officially known as Magnit Retail, is a leading player in the Russian retail industry, headquartered in Krasnodar, Russia. Founded in 1994, the company has grown to become one of the largest food retailers in the country, operating a vast network of supermarkets and convenience stores across major regions. Specialising in grocery retail, Magnit offers a diverse range of products, including fresh produce, packaged goods, and household items. Its unique approach combines competitive pricing with a focus on customer service, setting it apart in a crowded marketplace. With a strong market position, Magnit has achieved significant milestones, including rapid expansion and the introduction of innovative shopping solutions. The company continues to adapt to changing consumer preferences, solidifying its reputation as a trusted brand in the Russian retail sector.
DitchCarbon Score
How does Magnit's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Retail Trade Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Magnit's score of 36 is higher than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Magnit's reported carbon emissions
In 2024, Magnit reported total carbon emissions of approximately 3,264,000 kg CO2e, all of which fall under Scope 3 emissions. This marks a significant focus on upstream activities, as no data for Scope 1 or Scope 2 emissions was disclosed for this year. For 2023, Magnit's emissions totalled about 4,570,200 kg CO2e, with Scope 1 emissions accounting for approximately 27,421 kg CO2e and Scope 3 emissions reaching about 3,852,000 kg CO2e. Notably, the Scope 3 emissions included substantial contributions from business travel (approximately 1,316,218 kg CO2e) and employee commuting (around 2,362,793 kg CO2e). In 2022, the company reported Scope 3 emissions of about 4,441,000 kg CO2e, indicating a trend of high emissions primarily from upstream activities. Magnit has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to frameworks such as the Science Based Targets initiative (SBTi). The lack of emissions data for Scope 1 and Scope 2 in recent years suggests a need for improved transparency and commitment to comprehensive emissions reporting. Overall, while Magnit has made strides in reporting its carbon footprint, particularly in Scope 3 emissions, the absence of reduction targets highlights an area for potential growth in its climate strategy.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 2,240,000,000 | 0,000,000,000 | 0,000,000,000 | - | 00,000.0 | - |
| Scope 2 | 2,020,000,000 | 0,000,000,000 | 0,000,000,000 | - | - | - |
| Scope 3 | - | - | - | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Magnit's Industry?
How Carbon Intensive is Magnit's Location?
Magnit's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Magnit has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
