Loblaw issues 2021 ESG Report, outlines plans to fight climate change and advance social equity

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Loblaw issues 2021 ESG Report, outlines plans to fight climate change and advance social equity

Canada NewsWire

BRAMPTON, ON, May 5, 2022 /CNW/ - Recently, Loblaw Companies Ltd. (TSX: L) ("Loblaw") released its 2021 environmental, social, and governance (ESG) report, the company's 15th annual report.   It highlights progress against Loblaw's many ESG initiatives and features several new commitments focused on two priority areas: fighting climate change and advancing social equity.

"Loblaw is led by our purpose – helping Canadians live life well – and the responsibility to deliver a positive impact on the communities we serve," said Galen G. Weston, President and Chairman, Loblaw Companies Limited. "Our leaders and colleagues are passionate about making progress – whether we're reaching or extending environmental targets, improving leadership representation, charting record giving, or closing in on our goal of feeding one million kids through the President's Choice Children's Charity. This report shows how we're thinking about our ambitious goals and the hard work ahead." 

The 2021 Loblaw ESG Report outlines progress against many company priorities, including:

  • Raising and donating a record $96M to research, charities and not for profits across Canada. through the generosity of our customers, colleagues, employees and partners.
  • Continued progress on reducing our corporate carbon footprint by 35% from a 2016 baseline.
  • Transitioning away from phenol receipt paper.
  • Meeting initial representation goals for women in management roles.
  • Reaching $1M invested in plastics research and community clean ups several years ahead of target.

 It also highlights several new commitments and actions, including:

  • Achieving net-zero emissions by 2040 for Scope 1 and 2, and net-zero emissions by 2050 for Scope 3. This follows the company achieving its initial corporate carbon footprint reduction target, years ahead of schedule.
  • Reducing plastic waste by making all control-brand and in-store plastic packaging recyclable or reusable by 2025.
  • Sending zero food waste to landfill by 2030, and over the next 24 months achieve measurable food waste reductions in every one of its stores.
  • Releasing a climate risk assessment guided by the Task Force on Climate-Related Financial Disclosures (TCFD).
  • Achieving representation goals for the company's management, executives and Board of Directors by the end of 2024.
  • Deploying an inclusion training program to the company's workforce of approximately 200,000 people by the end of 2024.
  • Helping feed one million children annually by 2025 through support for Presidents Choice Children's Charity.
  • Supporting the efforts of LOVE YOU by Shoppers Drug Mart® to help women stay healthy and safe through improved access to care by contributing $50 million over the next five years.
  • Linking ESG performance activities to the company's short-term incentive program, beginning in 2022.

For more information and to view the 2021 ESG Report, please visit https://www.loblaw.ca/en/responsibility

About Loblaw Companies Limited

Loblaw Companies Limited is Canada's food and pharmacy leader, as well as its largest retailer and private sector employer. With approximately two billion transactions each year in its unmatched network of 2,500 stores and national e-commerce options, Loblaw brings food, pharmacy, beauty, apparel and financial services to customers through many of Canada's favourite and most-trusted brands: President's Choice, No Name, Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express and PC Financial.  The company's loyalty program, PC Optimum, has more than 18 million members and is one of Canada's largest, and most loved reward programs.

Loblaw's purpose is to help Canadians live life well. It makes good food affordable, health, beauty and wellness accessible, saving for the future possible, and essential style achievable.

SOURCE Loblaw Companies Limited

Cision View original content: http://www.newswire.ca/en/releases/archive/May2022/05/c8901.html

Copyright CNW Group 2022

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