By Ian Quinn2021-04-29T12:42:00+01:00
Tesco is to become the first UK retailer to offer its suppliers sustainability-linked finance, in a move the supermarket said would encourage more companies to commit to science-based emission reduction targets.
The voluntary programme, which Tesco said it had been developing for 18 months, will launch in September and see annual greenhouse gas emissions data provided by suppliers independently verified and assessed by sustainability expert Anthesis.
Financial giant KPMG has been employed by Tesco to carry out assurance of the programme, which will then see Tesco suppliers offered preferential financing rates via Santander’s market leading supply chain finance platform.
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