South Africa’s largest retailer, Shoprite Group, is planning to commit a further R3.5 billion towards reducing its carbon footprint. It’s not using its own money of course. That would be silly. Instead, banks and other companies are giving it money so they too can feel good about themselves. Sounds like a win-win, right?
That’s billion, with a ‘b’
All those bags of money are coming from Standard Bank, RMB, and an unnamed beneficiary. The split amounts to R2 billion, R700 million, and R800 million respectively. That’s rather a lot of money. The Shoprite Group is going to use it to “expand key initiatives that form part of its sustainability strategy” according to a Business Tech report.
Shoprite will use that small fortune to further invest in its use and production of renewable energy; the recycling of cardboard and plastics and the use thereof in packaging; and to improve its own energy efficiency by using LED lights and making sure no one leaves the fridge door open.
Read More: Shoprite is testing a Checkers store concept with no queues, waiting or tills
Sanjeev Raghubir, Shoprite Group sustainability manager said, “The loans enable us to continue on the road to reduce our environmental footprint by using more renewable energy and sustainable packaging, and recycling more waste.”
The people of Earth thank you
Luckily for Earth, Shoprite didn’t wait to receive an enormous amount of cash before doing anything. The group announced it would be making changes to its fleet of trucks, using the more efficient Scania Euro V which, it said, should result in 10% lower fuel consumption. The retailer said it expected to put 140 vehicles in operation in its fleet by the end of next year.
Those trucks are also going to be upgraded with solar panels so that the engines can be switched off and the refrigeration trailer can use solar power to keep the lettuce cold.
On behalf of all the people living on Earth: Thanks, Shoprite.