Sustainability Focus Makes You Money, Says New Report
In its latest sustainability report, How We Do Business, Marks & Spencer (M&S) says that in January 2007 it was prepared to invest £200m (over $300 million) during the next five years to implement its 2005 sustainability plan, Plan A, but cost savings made on climate change and waste reduction initiatives have already made it cash-flow positive. M&S says that 39 of the 100 commitments under Plan A have been completed and 24 of the 100 targets have been raised.
The decision to charge 5p for single-use grocery bags has cut the use of the bags by 83% (almost 400 million bags) - the £1.2m (about $2 million) profit generated from the charge has gone to the environmental charity Groundwork. Overall waste diversion rates to landfill are up to 41 percent, while carbon emissions have been cut 18 percent since the 2006-2007 baseline year. Energy use is down 10 percent, even while total store area is up 10 percent, for a roughly 20 percent reduction in energy use per square foot.
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