15th Oct 2021 09:16
(Alliance News) - Compass Group PLC on Friday set out a commitment to reach climate net zero greenhouse gas emissions by 2050.
The Chertsey, Surrey-based contract caterer, which serves over 5.5 billion meals a year, committed to be carbon neutral on Scope 1 and 2 greenhouse gas emissions by 2030, leaving itself 20 years to reach climate net zero.
Compass said it has "ambitious emissions reduction targets" for the next decade which have been validated by the Science Based Targets initiative.
In addition to carbon reduction, the FTSE 100 company looks to reduce food waste across its operations by 50% by 2030.
Its strategy includes transitioning all of its fleet vehicles to 100% plug-in electric, reformulating menus to be low carbon, increasing sourcing from regenerative agriculture and locally sourced produce, and focusing on packaging solutions over single-use plastic.
"Given the complexity of the global food supply chain as it is today, we do not underestimate the scale of the challenge ahead of us. Radical new collaborations are urgently needed across the entire value chain to make it a reality," commented Chief Executive Dominic Blakemore.
"As the world's largest food services group, operating at the heart of the global food supply chain, we are in a unique position to influence real change, by working in partnership with our suppliers and encouraging sustainable consumption from the clients and consumers we serve every day."
Compass said last month its full-year revenue performance is set to come within reaching distance of pre-pandemic levels after a better-than-expected fourth quarter. Underlying operating margin is expected to be 4.4%, which would mark a sharp improvement on the 2.9% posted for the 2020 financial year, but below the 2019 level of 7.4%.
Compass shares were up 0.5% at 1,498.30 pence in London on Friday.
By Josie O'Brien; [email protected]
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