Race to Zero
During the CGF Sustainable Retail Summit in October 2022, EuroCommerce announced its pledge to become an Accelerator for the Race to Zero. Shortly before COP 27 in Egypt, we catalyse the European retail and wholesale industry to drive climate action and support retailers and wholesalers in setting out their plans to halve greenhouse gas emissions by 2030 and achieving net-zero carbon emissions by 2050 at the latest.
The Race to Zero 2030 Breakthroughs: Retail Campaign aims to engage retail and wholesale associations to help support their members’ ability to decarbonise through the Race to Zero Retail Centre of Excellence. A recent report by EuroCommerce in partnership with McKinsey shows that retail and wholesale value chains represent 40% of EU emissions, but only 5% of these are in direct control of retailers and wholesalers.
“In joining the campaign, we hope to encourage retailers and wholesalers to set out their plans to achieve necessary carbon reduction targets by 2030 to help limit the global temperature rise to 1.5 degrees. Despite the many challenges facing the sector and our limited direct control, we are committed. Collaboration with supply chain partners and our stakeholders will be key to success.”
EuroCommerce and member companies have already joint the EU Code of Conduct for Responsible Food Business and Marketing Practices one of the first deliverables of the European Commission’s Farm to Fork Strategy and an integral part of its action plan. We support the CoC’s aspirational objectives and targets, including reaching a climate neutral food chain in Europe by 2050.
Examples of what the sector is doing in terms of sustainability and carbon reductions can be found on our Sustainable Commerce webpage.
For more information on our work with ‘Race to Zero’, please contact Els Bedert, Director for Product Policy and Sustainability.
NET ZERO GAME CHANGER – Tackling the hidden carbon footprint in European retail and wholesale value chains
This joint report aims to shed light on the carbon footprint of the sector in Europe and its value chains around the world. Besides providing insights into the status quo, it aims to set out a path towards a more sustainable future across four retail and wholesale subsectors: food and beverage and health and beauty, textile and apparel, consumer electronics, and home and do-it-yourself (DIY). This study presents a compelling vision of a future in which the sector can operate with minimal carbon dioxide equivalent (CO 2e) emissions. By outlining this aspirational goal, we aim to inspire and guide practitioners in the sector towards adopting low emission practices.
It is our hope that this study will not only serve as a useful resource for practitioners in the value chain but also provide policymakers with actionable insights. By targeting both audiences, we aim to foster collaboration and drive meaningful change. The challenges posed by climate change require a collective effort, and this study seeks to empower stakeholders across the full value chain with data and analysis that will allow them to take decisive action towards a more sustainable future.
This report is the result of a collaboration between EuroCommerce and Oliver Wyman, combining EuroCommerce’s policy and sector knowledge with Oliver Wyman’s business understanding, sustainability expertise, and analytical rigour.