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Marks & Spencer goes green
Marks & Spencer in embarking on a new strategy to define itself as the UK’s most environmentally-sound high street retailer. The company has pledged £200 million to a 100-point “eco-plan†that will make it a carbon neutral organisation by 2012. The company’s plan was drawn up by a former director of Friends of the Earth, Jonathon Porritt, who says M&S “sets a new benchmarkâ€.
The multifaceted approach (which rather incongruously ties together environmental sustainability and fair trade issues) will include such initiatives as: 100% recyclable packaging; more local sourcing of produce; stocking more products made from recycled raw materials; reducing energy consumption; and using food waste to generate power. Notably chief executive Stuart Rose has promised that “carbon off-setting†will only be used when no sustainable alternative is viable – in line with the advice offered by Garry Felgate of the Carbon Trust in last month’s issue of the drinks business.
The move marks a major change in policy for M&S. The retailer has recognised that consumers are increasingly aware of environmental issues, and believes this factor will become more important in purchasing decisions. It will be highlighted in a major marketing push beginning in March. M&S has stated that the cost of these changes will not be passed on to consumers. This suggests that while consumers are increasingly attracted to environmentally sound companies, businesses are not yet confident that consumers are willing to bear the associated costs. The £200m cost over a 5-year period represents 0.5% of turnover.
© db 17 January 2007