Currys, the UK’s leading technology retailer, has been ranked as one of the foremost ‘Climate Leaders’ in Europe by the Financial Times (FT).
In the FT’s annual ‘Climate Leaders Rankings’, Currys rose to 7th place in this year’s scores, becoming the highest ranked UK retailer in a list of 500 European companies.
The rankings evaluate companies’ performance in cutting their Scope 1, 2 and 3 carbon emissions, in addition to evaluating their broader commitments to reducing emissions. The scoring takes into account an organisation’s environmental performance as gauged by CDP and the Science Based Targets initiative (SBTi), which are considered by many to be a ‘gold standard’ assessment of an organisation’s position on climate action.
Currys’ progress against its reduction targets, which aim to cut greenhouse gas emissions by 50% across the Group by FY 2029/30, have played a key role in the retailer jumping up 36 places in the rankings, from 43rd in 2022. In terms of cutting Scope 1 and 2 emissions, 100% of all Currys properties in the UK are now powered by renewable electricity, in addition to numerous sites across the Nordics and Greece where Currys is solely responsible for supplier contracts. The business also has four sites with Solar PV installed, which with a capacity of over 2MWp further reduces the retailer’s CO2 emissions by approximately 413 tonnes.
Additionally, Currys is a signatory to the Climate Group’s EV100 initiative and is fully committed to transitioning to a 100% electrified (or alternatively fuelled) fleet of company cars and small vans, and a 50% electrified fleet of medium to heavy lorries, by 2030. Earlier this year, Currys welcomed its first biofuel powered van to its Newark Distribution Centre.
Currys has also made great progress when it comes to cutting Scope 3 emissions, led by a proactive approach to encouraging consumer adoption of longer-life, energy-efficient products, as well as Currys’ wider work in the circular economy via its Long Live Your Tech initiative. Currys carried out over 1.7 million repairs in FY 2021/2022 and has recently enhanced its offering when it comes to refurbished technology, selling pre-loved items in three different quality grades on Currys.co.uk for the first time. When items can’t be repaired or refurbished and resold, Currys collects them – recycling around 100,000 tonnes of tech a year. All of which helps contribute to a significant reduction in Scope 3 emissions from across the entire value chain.
Moira Thomas, Group Sustainable Business & ESG Director at Currys plc, said:“Being one of the ‘Top 10’ climate leaders in Europe is a badge we will wear with great pride at Currys. It’s a testament to the progress we have made when it comes to emissions, whether it be through our decarbonisation initiatives across properties and fleets, or our ever-growing work in the circular economy with our repair, refurbishment and recycling efforts pivotal to cutting down Scope 3 footprint.
“But that doesn’t mean we can afford to rest on our laurels. As the FT eagerly acknowledges, whilst the 500 companies it has identified as ‘Climate Leaders’ may be making a difference, it by no means suggests that the climate crisis has abated. As a business, we know we cannot afford to stand still in the sustainability space, and we will use our accomplishments to date as inspiration for further action.”
The full ‘Climate Leaders 2023’ rankings can be viewed via the Financial Times here.
