Tesco renews £2.5bn committed facility establishing link to sustainability targets

Tesco has announced that it has established a £2.5bn revolving credit facility, replacing Tesco’s existing £3bn committed facilities. The facility uses Risk Free Rates and interest is linked to the achievement of three ambitious environmental targets. Under the terms of the agreement, Tesco will benefit from a lower interest rate loan margin if the company delivers environmental targets, aligned with three existing KPIs included in its Little Helps Plan sustainability strategy: Emissions: % reduction of Scope 1 and Scope 2 CO2e emissions Renewable Energy: % renewable electricity sourced from on-site…

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Tesco commits to 300% sales increase in meat alternatives

Tesco has announced it will become the first UK retailer to set a sales target for plant-based meat alternatives as it steps up its work with its partner, WWF to halve the environmental impact of food production. The retailer has committed to a 300% increase in its sales of meat alternatives by 2025*, alongside a wider set of sustainability measures which it has developed with WWF. Taken together, the measures included in the partnership’s Sustainable Basket Metric will aim to halve the environmental impact of the average UK shopping basket.…

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Tesco launches campaign, supported by leading charities, to boost uptake of ‘most vital flu jab ever ’ as too many vulnerable people avoid jab

Tesco Pharmacy, Cancer Research UK, British Heart Foundation and Diabetes UK have joined forces to urge people at risk to get the flu jab, with a focus on vulnerable groups that too often do not do so[i].  Those vulnerable groups more at risk from flu are also more at risk of suffering ovid-19 complications.[ii] Therefore, getting the flu jab is important for these groups, and will also reduce the pressure felt by health services.  However, while jab uptake rates are high for those over 65, an at risk group, they…

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Tesco joins call on UK Government to fast-track move to zero-emission cars and vans to 2030

Momentum for the UK to ditch fossil fuel cars and vans is growing as Tesco has joined a group of now 27 big corporates publicly calling on the UK Government to target 100% zero emission car and van sales from 2030*. The Government is currently revising its plans.  In addition to Tesco, Dixons Carphone, E.ON, Heathrow, Lime and SSE are also joining the UK Electric Fleets Coalition, a partnership launched by the Climate Group and BT, including Openreach. Together these companies are already working to electrify over 400,000 of their own vehicles in the UK, most of them through the Climate Group’s global…

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Tesco partners with OLIO in ground-breaking scheme to cut food waste

An innovative scheme to stop more surplus food from going to waste and re-distribute it amongst members of the local community will be rolled out across the UK by Tesco.  The supermarket has partnered with food sharing app and social enterprise OLIO to help reduce food waste in stores across the UK in a move which should help feed more people in crisis in the local community.  The new partnership builds on Tesco’s existing food surplus donations programme, including its Community Food Connection scheme with FareShare, which already sees it donate 2 million meals every…

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