Currys, the UK’s largest omnichannel technology retailer has been awarded the highest available rating, an A, by global environmental non-profit CDP, for its leadership in corporate sustainability in tackling climate change.
The rating recognised that the retailer has made significant progress in its actions to cut emissions and mitigate climate risks based on the data reported by the company through CDP’s 2021 climate change questionnaire.
Alex Baldock, CEO, Currys said: “Our customers are noticing how we’re changing to a world class business, a business that puts them first and does the right thing for our colleagues, communities and the environment. We’re exceptionally proud to achieve the highest possible CDP rating this year, putting in Currys in the top 1.5% of 13,000 companies for climate change disclosure.”
Currys is a responsible business with a purpose to help everyone enjoy amazing technology. This latest rating shows the progress and hard work the business has made over the years in tackling emissions as the retailer continue towards its net zero goals.
Earlier this year, Currys launched it most ambitious emissions targets yet, becoming the first European technology retailer to have its climate goals approved by the Science Based Target initiatives as it pledged to reduce its scope 1, 2 and 3 greenhouse gas (GHG) emissions by 50% by 2030 and become net zero by 2040. The company was also the first electricals retailer to sign up to The Climate Group’s EV100 initiative, which will see the retailer transition to a fully electric or alternative fuel fleet by 2030.
And at a broader industry level, Currys’ scale and expertise means it’s uniquely placed to help drive wider industry action. Currys is part of the British Retail Consortium’s Taskforce on Climate Action, which developed a ground-breaking decarbonisation plan that will help the retail industry reach Net Zero by 2040, ten years ahead of the Government’s 2050 target. And recently, the retailer joined the Circular Electronics Partnership to further promote industry action by sharing its expertise on giving tech a longer life through design, repair, recycling and reuse, improving use of resources and creating circular business models.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to F based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. A record-breaking 13,000 companies responded, of which 15 are UK registered.
Paul Simpson, CEO, CDP said: “Many congratulations to Currys for making this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”
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About Currys plc
Currys plc is a leading omnichannel retailer of technology products and services, operating online and through 829 stores in 7 countries. We Help Everyone Enjoy Amazing Technology, however they choose to shop with us.
In the UK&I we trade as Currys; in the Nordics under the Elkjøp brand and as Kotsovolos in Greece. In each of these markets we are the market leader, employing 35,000 capable and committed colleagues. Our full range of services and support makes it easy for our customers to discover, choose, afford and enjoy the right technology for them, throughout their lives. The Group’s operations are supported by a sourcing office in Hong Kong, state-of-the-art repair facilities and an extensive distribution network, enabling fast and efficient delivery to stores and homes.
Our vision, we help everyone enjoy amazing technology, has a powerful social purpose at its heart. We believe in the power of technology to improve lives, help people stay connected, productive, healthy, and entertained. We’re here to help everyone enjoy those benefits and with our scale and expertise, we are uniquely placed to do so.
We’re a leader in giving technology a longer life through repair, recycling and reuse. We’re reducing our impact on the environment in our operations and our wider value chain and we will achieve net zero emissions by 2040. We offer customers products that help them save energy, reduce waste and save water, and we partner with charitable organisations to bring the benefits of amazing technology to those who might otherwise be excluded.
About CDP
The full methodology and criteria for the A List is available on CDP’s website at: https://www.cdp.net/en/companies/companies-scores
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.