Marks And Spencer

Marks & Spencer (M&S), headquartered in GB and operating within the retail trade services sector, has outlined a comprehensive strategy to address its carbon emissions and climate impact. The company has set ambitious targets, including achieving net-zero emissions across its own operations by 2034/35, and extending this commitment to its entire value chain by 2039/40.

For the fiscal year 2024, M&S reported Scope 1 emissions totalling approximately 206 million kg CO2e and Scope 2 emissions (market-based) of around 234 million kg CO2e. Scope 3 emissions for the same period were approximately 7.1 billion kg CO2e, with purchased goods and services accounting for the largest portion at roughly 6.39 billion kg CO2e.

The company has committed to significant reductions, aiming for a 55% decrease in absolute Scope 1 and Scope 2 greenhouse gas emissions by 2030, using a 2017 baseline. This target is aligned with the Science Based Targets initiative (SBTi) and aims to limit global warming to 1.5°C. M&S also has an SBTi-approved target to reduce absolute Scope 3 emissions by 42% by FY2030 from a FY2023 baseline. Furthermore, M&S has committed to no deforestation across its primary deforestation-linked commodities by the end of 2025.

In line with its long-term net-zero goals, M&S is working towards a 90% reduction in absolute Scope 1 and 2 GHG emissions by FY2035 from a FY2017 baseline, and a 90% reduction in absolute Scope 3 GHG emissions by FY2040 from a FY2023 base year. The company's climate commitments are verified and documented through various reports, including their Annual Report and ESG reports.