X5 Retail Group pledges to achieve carbon neutrality by 2050X5 Retail Group, a leading Russian food retailer that operates the Pyaterochka, Perekrestok, and Karusel retail chains, has committed itself to the Science Based Targets initiative (SBTi). By committing, X5 will set science-based emissions reduction targets that are in line with what climate scientists say is needed to meet the goals of the Paris Agreement. X5 will determine the volume and rate of emission reductions that will enable the company to contribute to the common goal of limiting global warming to below 2 °C versus pre-industrial levels. Joining the SBTi is an important step towards decarbonisation and improving X5's global sustainability profile as the world transitions to a low-carbon economy.
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi independently assesses corporate emissions reduction targets in line with what modern climate science says is needed to avoid the worst impacts of climate change. More than 1,000 major companies from around the world have responded to the SBTi's urgent call-to-action for companies to set emissions reduction targets in line with a 1.5°C future.
X5 Retail Group CEO Igor Shekhterman commented:
"In line with its sustainable development strategy, X5 has already made strong efforts to meet its long-term goal of achieving a 30% decrease in GHG emissions by 2030. We recognise the importance of international cooperation for delivering on climate change goals and are glad to commit ourselves to the SBTi along with other leading global companies."
In December 2019, X5 Retail Group's Supervisory Board approved a Sustainable Development Strategy as part of the Company's overall business strategy. The strategy is based on the four UN Sustainable Development Goals (SDGs) to which X5 believes it can make the greatest contribution. Among these is the promotion of responsible consumption and use of resources. In support of this goal, the Company plans to reduce its GHG emissions and total waste generation rate by 30%, as well as meet 30% of its energy needs with renewable sources by 2023.
X5 Retail Group
X5 Retail Group is the leading multi-format food retailer in Russia. X5 shares are listed on the London Stock Echange (LSE) and Moscow Exchange in the form of Global Depositary Receipts under the ticker "FIVE". The Company operates several retail formats, including the chain of conveniently located proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand.