METRO supports the Task Force on Climate-related Financial Disclosures (TCFD)
October 27, 2022 – METRO announces its support for the Task Force on Climate-related Financial Disclosure (TCFD), becoming the first Canadian food and pharmacy retailer to make this public commitment. The company will improve disclosure of potential climate risks and opportunities to its shareholders and other stakeholders.
“We aim to increase the resilience of our business to address physical and transition climate-related risks by continuing to integrate climate risks and opportunities into our governance, strategy, risk management, and metrics and targets, as recommended by the TCFD. We are convinced that a combined approach to climate change mitigation and resilience will create value for all of our stakeholders and for society,” stated Eric La Flèche, President and CEO, METRO Inc.
METRO also recognizes the critical role that businesses play in the fight against climate change. Its ambition is to reduce its greenhouse gas (GHG) emissions to help limit global warming by focusing its efforts on key areas over which it has direct operational control. In its 3rd Corporate Responsibility Plan 2022-2026, which covers its food and pharmacy operations, the company has committed to reducing its GHG emissions by 37.5% by 2035 compared to 2020. The company has reduced its GHG emissions intensity by 14% between 2015 and 2020. Recognizing the work that remains to be done and the importance of limiting global temperature increase, METRO is continuing its efforts and is committed to rigorously assessing the feasibility and costs of achieving the net-zero targets of the Science Based Targets initiative (SBTi).