Marks And Spencer

Marks and Spencer (M&S) has set ambitious targets to achieve net-zero emissions across its value chain by 2040. The company has committed to a 55% reduction in absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 2030, using a 2017 baseline. Furthermore, M&S aims for a 42% reduction in absolute Scope 3 GHG emissions by 2030, based on a 2023 baseline.

In terms of reported emissions, for the fiscal year 2024, M&S reported approximately 440 million kg CO2e for Scope 1 and 2 emissions on a market-based basis. Scope 1 emissions were approximately 206 million kg CO2e, and Scope 2 emissions were approximately 234 million kg CO2e. The company also reported substantial Scope 3 emissions, totalling around 7.1 billion kg CO2e for the same year, with purchased goods and services being the largest contributor at approximately 6.39 billion kg CO2e.

For the fiscal year 2023, total emissions were approximately 5.6 billion kg CO2e, comprising 225 million kg CO2e for Scope 1 and approximately 20 million kg CO2e for Scope 2 (market-based). Scope 3 emissions for this period were approximately 5.2 billion kg CO2e.

M&S's climate strategy includes a commitment to net-zero operations by 2035 and net-zero across its entire supply chain by 2039/40. They are also pursuing a 34% reduction in GHG emissions by 2025/26. A specific near-term target includes reducing refrigeration gas carbon emissions by 80% in M&S-operated stores in the UK and ROI by 2025. They are also working towards no deforestation in their supply chain by the end of 2025. The company's targets are approved by the Science Based Targets initiative (SBTi), aligning with a 1.5°C warming scenario.