Marks & Spencer (M&S) is a leading British retailer that operates in the supermarkets sector. The company was founded in 1884 and has since grown to become a household name in the UK, with over 950 stores across the country. M&S is known for its high-quality food and clothing products, as well as its commitment to sustainability and decarbonisation.
In recent years, M&S has made significant strides towards reducing its carbon footprint and transitioning to renewable energy sources. One of the ways the company has achieved this is through its corporate energy strategy, which involves the use of renewable energy sources and the implementation of energy-efficient technologies.
M&S has set ambitious targets for reducing its carbon emissions, with a goal of becoming carbon neutral by 2025. To achieve this, the company has implemented a range of measures, including the use of renewable energy sources such as wind and solar power. M&S has also invested in energy-efficient technologies, such as LED lighting and smart meters, to reduce its energy consumption.
One of the key initiatives that M&S has undertaken in its pursuit of decarbonisation is the use of corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees a fixed price for the electricity generated by the provider. This allows companies like M&S to secure a reliable source of renewable energy, while also supporting the growth of the renewable energy sector.
M&S has signed several corporate PPAs in recent years, including agreements with wind farms in Scotland and solar farms in the south of England. These agreements have helped the company to reduce its reliance on fossil fuels and transition to renewable energy sources.
In addition to its use of corporate PPAs, M&S has also invested in renewable energy infrastructure. The company has installed solar panels on the roofs of several of its stores, as well as on the roof of its distribution centre in Castle Donington. These solar panels generate renewable energy that is used to power M&S stores and distribution centres, reducing the company's reliance on grid electricity.
M&S has also implemented a range of energy-saving measures in its stores and distribution centres. The company has installed LED lighting, which is more energy-efficient than traditional lighting, and has implemented smart metering systems to monitor and control energy consumption. M&S has also introduced energy-efficient refrigeration systems, which use less energy than traditional systems.
In addition to its efforts to reduce its own carbon footprint, M&S is also working to encourage its suppliers to adopt more sustainable practices. The company has set a target of sourcing 100% of its cotton from sustainable sources by 2025, and is working with its suppliers to improve the sustainability of their operations.
Overall, M&S is a leader in the UK retail sector when it comes to sustainability and decarbonisation. The company's commitment to renewable energy and energy efficiency has helped it to reduce its carbon footprint and transition to a more sustainable business model. By investing in renewable energy infrastructure and signing corporate PPAs, M&S is helping to support the growth of the renewable energy sector and reduce the UK's reliance on fossil fuels.