Greenhouse gas (GHG) emissions are one of the major causes of rising global warming. CO2, Methane & NOx gases form a major part of greenhouse gases released from fossil fuels such as oil and gas. Due to rising GHG emissions from the operations of companies, it became important among major contributing sectors to report GHG emissions during their operations.
Several retailers, including Walmart, already measure their carbon footprints and climate change programs. Retailers generate a significant portion of their carbon footprint in their stores. In a retail outlet, heating, lighting, air conditioning, ventilation, cooking, and refrigeration are the main factors for direct energy consumption, and therefore carbon emissions.
Next Plc (Next) is a specialty retailer that merchandises and sells clothing, footwear, accessories, beauty, and homeware products through self-owned and franchised stores. The company provides services such as websites, marketing, warehousing, distribution networks, and contact centers. It markets and sells these products under NEXT, Label, and Lipsy brand names.
In 2022, the total GHG emissions of Next were 164.26 thousand tonnes of CO2 equivalents, an increase of 11% over 2021. The company aims to use 35% renewable energy across its operations.
GHG emissions are generally classified into Scope 1, 2, and 3 emissions. Scope 1 includes direct GHG emissions from sources owned or controlled by the company. Scope 2 encompasses indirect emissions resulting from the generation of energy that the company purchases, such as electricity. Scope 3 involves other indirect emissions that relate to the emissions produced in the company’s value chain from upstream and downstream activities.
In 2022, Scope 3 emissions form the major portion of Next’s total GHG emissions, accounting for around 74.31 thousand tonnes of CO2 equivalent (45.2% of the total GHG emissions), an increase of 10% over 2021. The company’s Scope 1 emissions (42.66 thousand tonnes of CO2 equivalent) increased by 15% and Scope 2 emissions (47.33 thousand tonnes of CO2 equivalent) increased by 8% over 2021. Scope 2 emissions are location-based as required by the legislation in the UK, though the company has also reported market-based scope 2 emissions in its ESG report.
Next has set a target to reduce Scope 1 and 2 absolute carbon emissions by 55% by 2030 against a 2016-2017 baseline. The company also aims to reduce Scope 3 carbon emissions by 40% against a 2019-2020 baseline per £1 million sales by 2030.
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