7-Eleven Targets Greenhouse Gas Emissions
The company seeks to be carbon neutral at its c-stores in Japan and the U.S. by 2050.
Nov 30, 2020
TOKYO—Seven & i Holdings, owner of 7-Eleven stores, has announced plans to cut its greenhouse gas emissions essentially to zero by 2050 at its retail outlets in Japan and the U.S.
According to Nikkei, the Japanese retailer has committed to spend at least 5% of its capital investment in the environmental field, for a total investment of 100 billion yen ($960 million) during the next five years.
The Japanese retail conglomerate produces 2.2 million tons of greenhouse gases a year. The company had already committed to reducing by at least 80% its emissions from its fiscal 2013 level by 2050, but that target was updated in response to Prime Minister Yoshihide Suga's recently announced net zero emissions goal for Japan.
More than 90% of the company’s power consumption takes place at its convenience stores, so it plans to use solar panels and LED lamps. In partnership with Toyota, fuel-cell trucks will be introduced for the distribution of supplies, and a pilot program using two of those trucks is now under way.
In addition, Seven & i Holdings is considering entering the business of operating renewable power plants, such as wind farms and hydroelectric plants, and investing in renewable energy operators.
The zero emissions campaign also includes electric vehicle charging. By 2027, 250 7-Eleven stores in the U.S. will be equipped with EV charging stations. Plus, the company wants to increase the use of recyclable materials in its private-label products.
Although services companies typically emit fewer greenhouse gas than manufacturers, Seven & i Holdings is eager to demonstrate its environmental commitment. Investors have begun looking at businesses’ social responsibility efforts when evaluating overall corporate performance.
Sustainability Asia
