The retail and fast-moving consumer goods industry and climate change are deeply intertwined – the sector is a major contributor to global GHG emissions (26%) but is also heavily impacted by it, with the inherent risk of disrupted supply chains, reduced raw material supply and increasing prices caused by climate change. Globally, retailers are increasingly setting science-based targets to add credibility and accountability to their sustainability efforts.
Given the momentum of change and the emerging clarity of costs along the value chain, there is great potential for technological innovation in the manufacturing process, daily operations, retail and logistics channels, consumer insights and communication, with sustainability becoming the epicenter of FMCG business strategy. This, combined with implementing best practices in impact measurement and championing business transparency, will ensure the industry leads the transformation necessary for a better world.
Building green businesses starts today.