Loblaw to cut carbon emissions by 17%
- Loblaw Companies Limited is increasing its use of renewable energy.
- It will use solar, wind and hydropower to power 280 locations in Alberta, Canada.
- The company will purchase 300,000 megawatt hours of renewables annually.
Loblaw Companies Limited says it will employ the use of renewable energy in Alberta, reducing its overall operating emissions by 17%.
The company, which owns and operates Canadian supermarket and drug store chains, in a May 4 release said renewable energy would soon be used to power 280 locations in Alberta, including Real Canadian Superstore, Shoppers Drug Mart, No Frills, Real Canadian Liquor Store, Independent and Wholesale Club, as well as its offices and distribution centers.
The energy will come from a variety of sources, including wind, solar and hydropower. The energy will be provided as part of a new partnership between Loblaw Companies and TC Energy, which has invested in multiple forms of renewable energy and energy storage in order to provide round-the-clock access to it, according to the release. Some elements of the renewable energy program will start in 2025, the release said.
"Loblaw has been actively reducing its carbon emissions for over a decade, consistently exceeding its own ambitious targets,” said Galen G. Weston, Loblaw Cos.’ president and CEO, in the release. “Last year, when we raised those targets to become net zero by 2040, we knew we would need some breakthrough innovation to reach our goal. This project delivers that by turning our highest carbon emitting energy market into our lowest, in one single step. Today's announcement is a powerful example of private industry working together to bring scaled change to the energy transition."
Loblaw will purchase 300,000 megawatt hours of renewable energy from TC Energy annually, according to the release. The retailer projects the use of renewables will cut 180,000 metric tons of carbon emissions, according to the release. Loblaw said the amount of renewable energy purchased would be enough to power about 45,000 homes.
As Retail Leader Pro recently reported, the use of renewable energy is a key part of the equation for retailers looking to advance their ESG goals, especially as consumers look for more sustainable products brands and retailers.
“The industry needs to upgrade store fleets not only to make them more agile, but also to make them more efficient,” said Elizabeth Lafontaine, chief analyst for Retail Leader Pro. “With store sales rebounding and consumers returning to pre-pandemic habits, the opportunity to improve the environmental impact of the physical channel is a good message for consumers and the industry at large.”