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 to address its greenhouse gas emissions. Although specific emissions data for the most recent year is not available, the company has established significant reduction targets based on a 2021 baseline. PENNY aims to achieve a 90% reduction in absolute Scope 1 and Scope 2 greenhouse gas emissions by 2050. Additionally, it has committed to a 42% reduction in these emissions by 2030. For Scope 3 emissions, which encompass indirect emissions from the supply chain, PENNY plans to reduce these by 90% by 2050 and by 42% by 2030. Notably, the company has set a target to reduce Scope 3 FLAG emissions by 72% by 2050 and by 30.3% by 2030. PENNY's long-term strategy includes a commitment to reach net-zero greenhouse gas emissions across its entire value chain by 2050. This comprehensive approach aligns with the Science Based Targets initiative (SBTi) and reflects the company's dedication to sustainable practices within the food and staples retailing 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.
