UK retailer Co-op plans to invest £820,000 (€969,490) to support British farmers in implementing sustainable farming initiatives.
The move is part of Co-op's efforts to build on its long-term investment in UK agriculture, the company noted.
The investment will benefit farmers for their efforts in reducing carbon emissions and promoting eco-friendly measures on their farms across beef, lamb and dairy sectors as part of two new sustainability projects.
Matt Hood, managing director at Co-op, said, “We know British farmers are facing many challenges and have seen firsthand the fear, anxiety and anger they are currently feeling.
“Backing UK agriculture is more important than ever - at Co-op, this means investing hundreds of millions every year to be one of the few UK retailers to be totally 100% British across meat, poultry and dairy throughout our own supply chain and committing support for farmers addressing the growing need for sustainability and climate resilience.”
Sustainability Projects
Co-op will allocate the funds across two key projects, with participating farmers able to access sustainability payments above the price they already receive for their products.
The first project will centre around the dairy sector and see Co-op partnering with the Soil Association Exchange.
It will support the 140 farmers in its dairy farming group in reducing their carbon footprint and begin to baseline key nature indicators like biodiversity and soil health.
Sustainability payments will be rewarded to the farms as part of the project, while farmers will be able to choose an action plan that works for them, the retailer added.
The second project is part of Co-op's Beef Sustainability Scheme and will support farmers in adopting on-farm sustainable practices. It is open to members of Co-op’s farming group.
The scheme, which launches after a successful two-year pilot, will be extended to 15% of the retailer’s beef supply chain this year and include lamb farmers for the first time, the retailer noted.
The company expects to cut over 100,000 tonnes of carbon emissions through this project over five years as it extends the percentage of beef and lamb supply covered by the scheme.
'We Need Support'
Tom Bramall, dairy farmer and chair of the Co-op Dairy Group, said, “In these uncertain times for our industry, we need to work together across the supply chain. Farmers like me, want to play our part when it comes to sustainability, but we need support.
“It’s fantastic to see the Co-op directly rewarding farmers and recognise the positive role we play in addressing the issues around climate change.”
According to a study by Oliver Wyman and EuroCommerce, Scope 3 emissions, resulting from activities by producers and manufacturers along value chains, as well as the energy consumed after the purchase of a product, account for 98% of total emissions in European retail and wholesale.
