Metro commits to improve climate-related financial disclosures
Metro has made a commitment to support the Task Force on Climate-related Financial Disclosure (TCFD).
The Financial Stability Board, an international body that monitors and makes recommendations about the global financial system, created the TCFD to improve and increase reporting of climate-related financial information.
As part of its support of the task force, Metro promises to improve disclosure of potential climate risks and opportunities to its shareholders and other stakeholders.
TCFD recommendations include disclosure of: governance around climate-related risks and opportunities; the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning; how the organization identifies, assesses, and manages climate-related risks; and of the metrics and targets used to assess and manage relevant climate-related risks and opportunities.
"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.
KPMG’s 2022 Survey of Sustainability Reporting found that the number of companies reporting against TCFD guidance has nearly doubled, leading to better climate disclosure.
In its 3rd Corporate Responsibility Plan 2022-2026, which covers its food and pharmacy operations, Metro vowed to reduce its GHG emissions by 37.5% by 2035 compared to 2020.
The company reported a reduction in its “GHG emissions intensity” of 14% between 2015 and 2020.
Metro also stated its commitment to assess the feasibility and costs of achieving the net-zero targets of the Science Based Targets initiative (SBTi).
