The voluntary programme, which has been in development for 18 months and is due to launch in September 2021, will see annual greenhouse gas emissions data provided by suppliers independently verified and assessed by sustainability experts.
Tesco suppliers will be offered preferential financing rates via Santander’s supply chain finance platform which incentivises suppliers to make positive changes to their business while tracking performance. The rates will be based on each suppliers’ carbon data disclosure, emissions reduction targets, and progress against sustainability goals.
The retailer expects the programme to be of particular interest to small and medium-sized businesses. Tesco will provide online tools and support to help these suppliers enrol in the scheme.
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