The Carrefour Group announced that it will be putting an internal price on carbon on Wednesday during the COP22 UN Climate Change Conference in Marrakech.
This means that the group will consider the impact of carbon emissions when making investment decisions in areas like transport.
Carrefour aims to reduce its 2010 levels of carbon emissions by 40% in 2025 and 70% in 2050.
The retailer hopes that this initiative will reduce costs of sustainable, low carbon technologies and make them more competitive with conventional sources of energy.
The price of carbon will be calculated on a country-by-country basis, taking into account the available energy sources and technological development in each location.
The company will test the viability for geothermal, solar and bio methane use in their supply chain and facilities.
"Setting a price for carbon is a very effective means of quantifying and so incentivising all of the company's entities to help tackle climate change,"said Jérôme Bédier, deputy CEO and general secretary of the Carrefour Group.
Other large European chains such as Metro have also vowed to cut carbon emissions.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. To subscribe to ESM: The European Supermarket Magazine, click here.
