CECONOMY AG is a German multinational consumer electronics retailer that operates in the Electronics & Appliances Stores sector. The company was formed in 2017 through the demerger of the former Metro Group, which split into two independent companies, with CECONOMY AG becoming the parent company of MediaMarktSaturn Retail Group, Europe's largest consumer electronics retailer.
CECONOMY AG operates over 1,000 stores in 13 countries across Europe, with a workforce of over 50,000 employees. The company's retail brands include MediaMarkt, Saturn, and Redcoon, which offer a wide range of consumer electronics and household appliances, from smartphones and laptops to refrigerators and washing machines.
As a large corporation, CECONOMY AG is aware of its responsibility towards the environment and is committed to decarbonisation. The company has set ambitious targets to reduce its carbon emissions and has implemented a range of measures to achieve this goal. One of the key initiatives is the use of renewable energy sources to power its operations.
CECONOMY AG has invested in a range of renewable energy projects, including wind and solar farms, to reduce its carbon footprint. The company has also implemented energy-efficient measures in its stores, such as LED lighting and energy-efficient heating and cooling systems.
In addition to using renewable energy, CECONOMY AG has also implemented a corporate energy strategy to manage its energy consumption and reduce costs. The company has implemented energy management systems in its stores and warehouses, which monitor energy usage and identify areas for improvement. This has helped the company to reduce its energy consumption and lower its carbon emissions.
CECONOMY AG has also implemented a corporate power purchase agreement (PPA) to source renewable energy directly from renewable energy providers. This has enabled the company to secure a reliable and cost-effective source of renewable energy, while also supporting the growth of the renewable energy sector.
The company's commitment to renewable energy and decarbonisation is reflected in its sustainability strategy, which outlines its targets and initiatives to reduce its environmental impact. CECONOMY AG has set a target to reduce its carbon emissions by 50% by 2030, compared to its 2017 baseline. The company is also committed to sourcing 80% of its electricity from renewable sources by 2025.
CECONOMY AG's commitment to sustainability extends beyond its own operations. The company is also working with its suppliers to promote sustainable practices and reduce the environmental impact of its supply chain. CECONOMY AG has implemented a supplier code of conduct, which outlines its expectations for ethical and sustainable practices, and has established a supplier sustainability program to support its suppliers in implementing these practices.
In conclusion, CECONOMY AG is a leading consumer electronics retailer that is committed to decarbonisation and the use of renewable energy. The company has set ambitious targets to reduce its carbon emissions and has implemented a range of measures to achieve this goal. CECONOMY AG's commitment to sustainability extends beyond its own operations and includes working with its suppliers to promote sustainable practices. The company's sustainability strategy reflects its commitment to reducing its environmental impact and supporting the transition to a low-carbon economy.