Tesco sets up solar farms as it brings forward net-zero goals by 15 years

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Tesco PLC (LON:TSCO) is speeding up environmental goals and looks to reach net-zero carbon emissions by 2035 instead of 2050.

The grocer announced new plans to tackle the two biggest sources of emissions in the UK, electricity production and transport.

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It partnered with renewable energy investor Low Carbon to build three new solar farms in the UK.

They will be located in Essex, Anglesey and Oxfordshire will generate up to 130 gigawatt/hour of energy per year, which the FTSE 100 firm said are enough to power 44,828 three-bedroom homes, to partly power its operations and add some to the grid.

The current project follows the supermarket’s announcement last year that it would begin sourcing renewable energy from five onshore windfarms, while 60 stores have been fitted with solar panels.

The goal is to use 100% renewable electricity across the whole group by 2030 and have a fully electric home delivery fleet by 2028. 

Tesco is also rolling out 2,400 charging points for customers across 600 stores, with 400 stores due to be fitted with the chargers by the end of 2020.

By the time the programme has concluded, Tesco will have boosted the UK’s electric charging network by 14%.

It also set a deadline to reduce supply chain carbon emissions by 35% across food and manufacturing by 2030, and 15% for agriculture.   

“It’s great news to see Tesco, as one of Britain’s flagship businesses, not only bringing forward the date of its longer-term commitment to net zero, but also pushing ahead with real action in the here and now to confront the climate emergency,” said Tanya Steele, chief executive of WWF UK.

“Renewable energy and electric vehicles are essential ingredients for the economic recovery we want to see in the UK.”

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