The world is moving to respond to the challenge of climate change with the signing of the Paris Agreement and nations committing to align targets to constrain global warming to within two degrees. Iconic, global businesses came out in support of this goal.
We will use science-based targets to assess the impacts of a two-degree world and examine their applicability to the Group.
A suite of engineering initiatives was rolled out, including replacement of synthetic refrigerants by carbon dioxide, the introduction of a range of refrigerant plant energy efficiency improvements, the introduction of LED lighting across all refrigerated showcases, and improvements in refrigeration and air-conditioning plants. Project Enlighten was established in 2015 in order to generate energy efficiency savings through a strong focus on the installation of LED lighting, along with investments in refrigeration and air‑conditioning improvements. Further investments have included the installation of solar power systems
across a range of trading stores.
We will continue to investigate further cost-effective investments as technology and commercial opportunities evolve.
Agricultural supply security is an issue of high importance to investors wanting to understand the impact issues such as water shortages and droughts could have on investee company profitability, including through higher prices or reduced availability of supply chain agricultural inputs. We will work with our suppliers to build capacity in managing climate change risks with an initial focus on water.