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 28 is lower than 51% 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 2023, Magnit reported total carbon emissions of approximately 2,390,000,000 kg CO2e for Scope 1 and 3,060,000,000 kg CO2e for Scope 2. This reflects a slight decrease in Scope 1 emissions from 2,510,000,000 kg CO2e in 2022 and a modest increase in Scope 2 emissions from 2,980,000,000 kg CO2e in the same year. The company has not disclosed any Scope 3 emissions data. Magnit's emissions data indicates a focus on reducing its carbon footprint, although specific reduction targets or initiatives have not been outlined. The absence of Science-Based Targets Initiative (SBTi) commitments or documented reduction initiatives suggests that while the company is tracking its emissions, it may not yet have formalised its climate commitments. Overall, Magnit is actively monitoring its carbon emissions, with a clear trend of emissions reporting over the past few years, but further clarity on reduction strategies and targets would enhance its climate commitment profile.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 2,240,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 2,020,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - | - | - |
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.
