Primary Climate Goal
Morrisons's target annual Scope 1 + 2 emissions for 2040 should be equal to 0 Kt = 0% * 644 Kt, according to the company's stated climate goal.
In order to achieve this goal, Morrisons would need to reduce its emissions at least by -32 Kt per annum over the period from 2021 to 2040:
-32 Kt = ( 0 Kt - 644 Kt ) / (2040 - 2020)
This translates into a -5% reduction in 2021.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Morrisons aims to achieve net zero for Scope 1 + 2 by 2040
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Morrisons reported Total CO2e Emissions - Location-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 644 Kt (-36 /-5.3% y-o-y). Also positively, carbon intensity declined to 28 t (-2.1 /-6.9% y-o-y).
No public disclosure of Scope 3 emissions has been found for Morrisons at the moment.
The company is committed to achieving net zero for Scope 1 + 2 by 2040, which translates into the estimated reduction of -32 Kt per annum over the period of FY2021 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Morrisons also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Morrisons commits to reduce absolute scope 1 and 2 GHG emissions 46% by 2030 from a 2019 base year. Morrisons also commits to reduce absolute scope 3 GHG emissions from own-brand purchased goods and services, own-brand upstream transportation and distribution and use of sold products 30% over the same timeframe.