Penny Sustainability Profile
Penny, officially known as Penny Markt GmbH, is a prominent discount supermarket chain headquartered in Germany. Established in 2002, the company has rapidly expanded its footprint across various regions, including major operational areas in Germany and parts of Europe. Specialising in providing high-quality groceries at competitive prices, Penny distinguishes itself through its commitment to sustainability and local sourcing. The chain offers a diverse range of products, from fresh produce to household essentials, ensuring affordability without compromising on quality. With a strong market position, Penny has garnered recognition for its innovative approach to retail, including the introduction of eco-friendly packaging and a focus on reducing food waste. As a key player in the discount retail sector, Penny continues to evolve, meeting the needs of budget-conscious consumers while maintaining a strong ethical stance.
DitchCarbon Score
How does Penny'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 Food Product Manufacturing 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
Penny's score of 30 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Penny's reported carbon emissions
PENNY Markt GmbH, headquartered in Germany, has set ambitious climate commitments but currently does not report any specific carbon emissions data. The company has established a net-zero target, committing to achieve net-zero greenhouse gas emissions across its value chain by 2050. PENNY has outlined several significant reduction targets, including a commitment to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 42% by 2030, using 2021 as the base year. Additionally, the company aims to reduce absolute Scope 3 emissions from purchased goods and services, capital goods, upstream transportation and distribution, and the use of sold products by 42% within the same timeframe. For Scope 3 FLAG emissions, PENNY has set a target of a 30.3% reduction by 2030. Looking towards the long term, PENNY aims for a 90% reduction in absolute Scope 1 and Scope 2 emissions by 2050, alongside a 90% reduction in absolute Scope 3 emissions. The company also targets a 72% reduction in Scope 3 FLAG emissions by 2050. These targets are aligned with the Science Based Targets initiative (SBTi) and are designed to contribute to limiting global warming to 1.5°C. The commitments reflect PENNY's proactive approach to addressing climate change and its impact on the retail sector.
How Carbon Intensive is Penny's Industry?
How Carbon Intensive is Penny's Location?
Penny'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.
Penny has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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