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Russia's Magnit Announces Sustainability Commitments

Published on Jun 24 2020 12:59 PM in Retail tagged: Trending Posts / Russia / Sustainability / Magnit

Russia's Magnit Announces Sustainability Commitments

Russian retailer Magnit has announced a comprehensive sustainability strategy, in which it pledges a 30% reduction in greenhouse gases and a 50% reduction in food waste by 2025.

The strategy covers five specific areas – environment, sustainable sourcing, employees, communities and health and wellness – and forms part of the business' commitment to lead environmental impact reduction in the Russian retail sector, it said.

Other commitments by the grocer include having a positive impact on Russian consumers' quality of life, becoming a number one employer in the industry, creating a 100% responsible supply chain, and developing a 'best in class' corporate governance structure.

Environmental Commitment

In terms of environmental commitments, the retailer has also targeted the use of at least 50% recyclable, reusable or compostable packaging for its private labels and company-owned products, a 25% reduction in water usage, and the recovery of 100% of recyclable plastics in its own operations.

In terms of sustainable sourcing, it is seeking to introduce responsible sourcing for commercial and non-commercial purchases, 100% responsible own production and agriculture, and the development of partnership programmes for local suppliers and farmers.

Strategic Move

"The huge scale of our business and its impact on the society make sustainability an extremely important part of our long-term business strategy," commented Jan Dunning, president and CEO of Magnit.

"We are ready to improve our efficiency in order to achieve positive changes and unite our efforts with our industry partners, suppliers and experts in order to share best practices for the benefit of our consumers, employees and society in general."

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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