Marks & Spencer has today announced a string of new projects, funded through its Plan A Accelerator Fund, to help achieve its net zero goals by 2040.
M&S’s sustainability plan ‘Plan A’ was launched back in 2007, well before most mainstream businesses were thinking about tackling climate change. The retailer has been leading the way with new and exciting products and services since its inception 140 years ago. Did you know it was the first retailer to introduce machine-washable wool to its clothing offer?
Continuing its mission to become “the most trusted retailer” M&S has launched a £1 million Plan A Accelerator Fund. It is working in partnership with long-standing and new suppliers on a series of innovation projects to become a net zero business across all its operations and entire value chain by 2040.
Stuart Machin, M&S CEO commented: “I talk a lot about the ‘magic of M&S’ – and a key part of this is our commitment to innovation. It’s in our DNA and, along with our unique model of own brand, long long-term supplier partnerships, it’s how we deliver the quality and trust our customers expect from us.
“By turning our obsession with innovation towards climate change and tapping into the entrepreneurial spirit of our suppliers we can turbocharge our drive to be a Net Zero business across all our operations and entire supply chain by 2040. I’m excited by the big difference these small changes could make to some of the toughest climate challenges we face.”
The Clothing & Home teams at M&S have worked closely with suppliers and business partners to identify opportunities across some of the most challenging emissions areas, including agriculture, livestock and textiles.
One of the first projects supported by the fund is a first-of-its-kind trial asking customers to donate their unwearable clothes to Oxfam, alongside wearable clothing. The unwearable items will be cleaned and used to support fibre-to-fibre recycling, where fibres are re-used and turned into new material, preventing them from going to landfill and moving us closer to a more circular fashion economy.
