November 16, 2022
Loblaw builds on track record of transparency with inaugural Task Force on Climate-Related Financial Disclosures report
[November 16, 2022] – Brampton, ON – As part of a longstanding commitment to good corporate governance, today Loblaw Companies Ltd. (TSX:L; “Loblaw”) announced several new disclosures related to its Environmental, Social and Governance (ESG) efforts – notably its inaugural Task Force on Climate-Related Financial Disclosures (TCFD) report.
“As the nation’s largest retailer, we understand the impact of our operations on the environment and climate. Consequently, we are committed to finding solutions and to the dozens of initiatives we have underway to help fight climate change,” says Kevin Groh, Loblaw’s head of ESG. “Our first TCFD report marks the latest in our efforts to publicly account for our commitments, and we look forward to sharing our progress annually.”
In 2021, Loblaw announced its commitment to achieve net-zero carbon emissions by 2040 for its enterprise operating footprint, extending a track record of meaningful climate-reduction related action. Loblaw surpassed its original carbon reduction goal – reducing its carbon footprint 30% by 2030 – ten years early and has since set a variety of objectives to cut carbon, plastic waste and food waste.
In addition to TCFD disclosures, in recent weeks, Loblaw has for the first time filed a response to the Workforce Disclosure Initiative and the Bloomberg Gender Equality Index, and published information on new assessments and steps to protect Human Rights.
For more disclosure details, refer to the following links:
About Loblaw Companies Limited
Loblaw Companies Limited is Canada’s food and pharmacy leader, as well as its largest retailer and private sector employer. With approximately two billion transactions each year in its unmatched network of nearly 2,500 stores and national e-commerce options, Loblaw brings food, pharmacy, beauty, apparel and financial services to customers through many of Canada’s favourite and most-trusted brands: President’s Choice, No Name, Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore, T&T, Joe Fresh, PC Express and PC Financial. The company’s loyalty program, PC Optimum, has more than 18 million members and is one of Canada’s largest, and most loved reward programs.
Loblaw’s purpose is to help Canadians live life well. It makes good food affordable, health, beauty and wellness accessible, saving for the future possible, and essential style achievable.
For more information, visit Loblaw’s website at www.loblaw.ca.