What is the SBTi?
The SBTi is a collaboration between the CDP, UN Global Compact, World Resources Institute (WRI), and World Wide Fund for Nature (WWF). It works closely with scientists to develop climate change goals in accordance with the Paris Agreement. SBTi targets primarily focus on sharp reductions in company emissions. By joining the SBTi, the REWE Group has committed to science-based emissions reduction targets aligned with the 1.5-degree reduction pathway set out in the Paris Agreement. Our ambitious goal is to reach net zero emissions as a Group by 2050. With this goal, we are focussing not only on drastically reducing emissions in our own activities, but also in those of our supply chains.
We strengthened our commitment to this goal by launching our first sustainability-linked bond on the capital market in September 2023. The repayment amount of the sustainability-linked bond (SLB) at the end of the term depends on whether REWE and PENNY have achieved clearly defined and objectively verifiable sustainability goals for Scope 1, 2, and 3 emissions – which includes upstream supply chain emissions – in Germany.
We recognise that we cannot achieve our ambitious goals alone. Rather, we can only achieve them if we support our private-label suppliers on the path to setting SBTi-compliant climate targets of their own. For this reason, we offer support materials, training, and forums for dialogue as part of the “Together for More Climate Protection” initiative.