Kingfisher Cuts Carbon Emissions Beyond Targets
Kingfisher PLC
Kingfisher zeroes in on selling more sustainable products as demand for them soars.
Reports show that 83% of businesses are investing in low-carbon products.
UK-based multinational retailing company Kingfisher plc has announced it has outperformed its carbon emissions targets.
The firm has surpassed its initial target of a 37.8% reduction by 2026 and reduced Scope 1 (operational) and Scope 2 (electricity-related) emissions by 66% since 2016. Also, they have augured well by reducing Scope 3 (indirect) emissions from supply chains by 30.4%, with an intensity reduction of 38.7% since the 2017/18 financial year.
Meanwhile, Kingfisher is optimistic about its 2025/26 goal of reducing emissions by 40% and has introduced vendor decarbonisation targets to lower additional Scope 3 emissions.
Other ambitious long-term sustainability goals include reducing Scope 1 and 2 emissions by 68% and Scope 3 emissions by 46% by the end of this decade, achieving net-zero emissions for Scope 1 and 2 by 2040, and for Scope 3 by 2050. To this end, the company is investing 44% of its £317 million gross capital expenditure into renewable energy projects and already has a £650 million revolving credit facility linked to sustainability goals.
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The retailer has also logged profit in sustainable product sales. For example, in the last financial year, they recorded over £6 billion in sales from eco-friendly products, which accounts for around half of the company's total revenue.
In addition, in FY 2024/25, more than half (53%) of group sales and 63% of exclusive brand sales were from sustainable home products, with 10% of total sales from products that help lower energy and water consumption.
The company said it had achieved these remarkable sales as a result of dedicated sustainability product zones in more of its Castorama France and Castorama Poland stores, which increased customer engagement.
For the 2025/26 financial year, Kingfisher vows to cut Scope 3 emissions intensity by 40% compared to FY 2017/18. It has proposed plans for 60% of total sales and 70% of exclusive brand sales to come from sustainable home products, as well as ensuring that 100% of the wood and paper used in its products is responsibly and ethically sourced.
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PwC report says 83% of companies are building up R&D investment in low-carbon products and services, and by 2030, companies expect more than one-third of their revenue to come from activities connected to climate transition.
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Source: edie
