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Marks and Spencer Tops FTSE 100 Carbon Ranking For Third Year Running

Marks & Spencer retained its #1 position in Carbon Clear rankings of FTSE 100 companies . These carbon rankings reflect reporting efforts.

All but one company listed at the FTSE 100 reported their greenhouse emissions, thus complying with the mandatory emissions reporting regulations that came into force in October 2013, Carbon Clear has reported.

Marksspencer_logo

Marks and Spencer retained its number one position in Carbon Clear rankings of FTSE 100 companies reporting their emissions. Carbon Clear ranks companies against a set of different parameters related to the transparency and comprehensiveness of their emissions reporting. The ranking is not indicative of the measures taken by these companies to reduce their carbon footprint.

In 2011, when Carbon Clear first came out with these rankings, British Sky Broadcasting had topped 93 companies that had reported emissions. Marks and Spencer was a close second that year. The retail giant has been leading companies in the rankings since 2012.

In addition to rigorous and comprehensive emissions reporting standards, Marks and Spencer has also implemented several low-carbon initiatives including a plan to achieve carbon neutrality. In 2007, the company set the target to become carbon neutral, and achieved it by implementing energy efficiency measures across its stores and supply chain, and purchasing carbon offsets to cover all of its emissions.

Through energy efficiency measures, the company saved about 160,000 tonnes of carbon dioxide emissions every year. Last year, the company extended its carbon neutral target to cover all operated and joint venture stores, offices, warehouses and delivery fleets worldwide. The company supports low-carbon projects in several countries including South Africa, Turkey, Kenya, and Borneo.

While United Kingdom laws require all companies listed at the London Stock Exchange to report emissions, companies have been increasingly reporting emissions on a voluntary basis. A study conducted by the University of California – Davis two years ago suggested that voluntary reporting of emissions by companies led to noticeable increase in their share prices compared to companies that do not.

 

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Written By

Mridul currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.

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