Woolworths Group has outlined its commitment to achieving net zero emissions across its supply chain by 2050, with a focus on reducing Scope 1, 2, and 3 greenhouse gas (GHG) emissions. The company aims to reduce absolute Scope 1 and 2 GHG emissions by 80% by 2030 and 90% by 2045, from a 2023 base year. Additionally, Woolworths Group plans to reduce absolute Scope 3 FLAG GHG emissions by 40% by 2033 and 72% by 2050, and non-FLAG emissions by 55% by 2033 and 90% by 2050, from the same base year.
Material actions and disclosures
The Group’s Scope 1 and 2 emissions make up 3% of the total emissions across its end-to-end supply chain, while Scope 3 emissions are approximately 33 times greater, making up 97% of the emissions. The company is committed to maintaining 100% renewable electricity across all operations, transitioning its home delivery fleet to electric vehicles, and reducing leakage and conversion to natural refrigeration with lower global warming potential.
Woolworths Group also aims to collaborate with suppliers and industry leaders to share insights and best practices to drive collective action on emissions reductions. The company is leading a project to streamline pre-farmgate agricultural emissions reporting through the creation of a central data exchange, enabling a ‘report once, share with many’ approach for farmers.
Forward commitments
The Group has identified an annual investment requirement of $100 million to $120 million in combined capital and operational expenditure (capex and opex) from F27 to F30 to deliver on these targets. This funding is governed by the Group’s Capital Management Framework and evaluated against business priorities and investment hurdle rates.
Woolworths Group is committed to collective action on emissions reduction across key sectors like energy, transport, and agriculture, and is actively engaging with industry associations to advocate for climate-related public policy.