Loblaw Companies Limited
L:CN CA5394811015
Key Information
HQ:
Canada
Market Cap:
$36.26bn
Primary Market:
North America
Company Information
Company Summary
Loblaw Companies Limited is a retail and wholesale food distributor with operations across Canada. The Company's operations include both company and franchisee operated stores, warehouses, and cash and carry outlets.![Loblaw](http://images.ctfassets.net/kc2xclar6nri/11Nn9VVQV4jqO1DHWGgyaf/89ca37264e915e116a7f653c7bb4eb4d/Loblaw.jpg?fit=scale&w=1320&fm=webp)
Revenue
Revenue by Geography
Revenue by Segment
Protein Diversification Engagement
Analysis Overview
Climate Strategy - Integration of Protein Diversification Climate Strategy - Governance and Influence Climate Strategy - Adoption of Just Transition Product Portfolio - Resource Allocation Consumer Education - Consistency of Marketing Strategies
Analysis Breakdown
Climate Strategy - Integration of Protein Diversification
Low
Quantify Potential/Opportunity
DNF
TCFD-aligned scenario analysis
The company has conducted a TCFD-aligned climate scenario analysis across a medium-term (2030) and long-term (2050) time horizon under a 1.5C scenario to identify the physical and transition risks that may be material to its business. However, it is unclear if the company has included its entire animal agriculture supply chain within this risk assessment. Loblaw has recognised shifting consumer preferences towards lower-carbon products as a risk and is responding by expanding its lineup of certified vegan plant-based products.
Limited
Reporting of Scope 3 emissions from animal agriculture
Loblaw discloses that 23,987 metric tonnes of emissions were attributed to animal feed, however, the company has not disclosed a full breakdown of its Scope 3 emissions attributed to animal agriculture.
No Evidence
1.5C aligned SBTi Scope 3 FLAG target
Loblaw does not have an SBTi approved Scope 3 emissions reduction target that covers its FLAG emissions. Instead the company has committed that 70% of its suppliers by spend will establish science-based targets by 2027.
No Evidence
Quantifying the opportunity of protein diversification
Loblaw has not quantified the carbon mitigation potential or financial opportunity from protein diversification.
No Evidence
Protein Diversification Strategy
DNF
Integrating protein diversification into climate transition plans
Loblaw has mentioned that it is continuing to expand its plant-based ranges to reduce the company's climate related risks in its climate transition plan. However, the company has not yet set a public protein diversification target.
Limited
Protein diversification target is timebound
The company does not have a protein diversification target.
No Evidence
Business coverage of protein diversification target
There is no evidence for this KPI.
No Evidence
Alignment of target with climate and health guidelines
There is no evidence for this KPI.
No Evidence
Measuring Progress
Low
Disclosing progress against protein diversification target
Loblaw has disclosed in its 2023 CDP Climate Change report that its annual revenue from its PC Plant-Based portfolio increased by 310% in FY2022. However, this reporting is not linked to the company protein diversification target as Loblaw has not yet set a target.
Limited
Annual reporting of progress of protein diversification target
There is no evidence for this KPI.
No Evidence
Climate Strategy - Governance and Influence
Partial
Board Oversight
Partial
Board support for protein diversification
Loblaw's board of directors are supportive of its policies and practices related to its ESG matters, which the company has disclosed includes increasing its plant-based offering in its Climate Action Commitment. However, the company does not have a protein diversification target.
Limited
Climate expertise of board
25% of Loblaws board have environmental expertise.
Full
Nutrition/health expertise of board
From Loblaw's website, it is unclear if any board members have technical expertise in nutrition and/or health (diet). There is no evidence of a technical advisory group that provides training and advice on nutrition and/or health (diet) at the board level.
No Evidence
Advocacy
Partial
Disclosing a list of direct lobbying actions
Loblaw discloses a list of 13 policies that the company directly engages with policymakers on.
Full
Direct lobbying in line with climate and nutrition
Loblaw has disclosed examples of lobbying in line with positive climate outcomes for its food business. Examples of this positive climate lobbying include carbon reduction policies and draft offset protocols to reduce GHG emissions from refrigeration systems. The company has not disclosed on lobbying for positive nutrition outcomes.
Limited
Disclosing a list of indirect lobbying actions
Loblaw has disclosed membership to one trade association (the Consumer Goods Forum), a partnership with two universities (University of Guelph Arrell Food Institute, University of Toronto), and a partnership with four NGOs (Ocean Wise, WWF-Canada, One Planet Business for Biodiversity (OP2B), Circular Materials).
Limited
Indirect lobbying in line with climate and nutrition
Loblaw has disclosed an assessment of its lobbying through its affiliate organisations and they are aligned with positive climate outcomes. The company has not disclosed an assessment of whether its lobbying through affiliate organisations are aligned with positive nutrition outcomes.
Limited
Climate Strategy - Adoption of Just Transition
DNF
Just Transition Commitments
Low
Public commitment to Just Transition principles
There is no evidence for this KPI.
No Evidence
Commitment to support workers
There is no evidence for this KPI.
No Evidence
Commitment to support stakeholders
Loblaw stated that it is working with the Canadian Alliance for Net-Zero Agri-food (CANZA) to test and scale initiatives that will support its suppliers to adopt sustainable agricultural practices. However, it is unclear if this covers the company's animal protein suppliers.
Limited
Just Transition Strategy
DNF
Public Just Transition strategy
The company does not have a Just Transition strategy that covers animal agriculture.
No Evidence
Consulting social actors in Just Transition strategy development
Loblaw has disclosed that it directly engages its suppliers through its supplier engagement meetings, vendor portal, category leads, supply chain compliance department, integrity action line, and supplier communication email, which is publicly available. However, the company has not disclosed on what topics it discusses through its supplier engagement and how it uses this information to support them in transitioning to more sustainable practices.
No Evidence
Just Transition KPI
DNF
Disclosing Just Transition KPIs
There is no evidence for this KPI.
No Evidence
Reporting against Just Transition KPIs annually
There is no evidence for this KPI.
No Evidence
Product Portfolio - Resource Allocation
Low
Portfolio Diversification
Partial
Dedicating resources to expanding alternative protein offering
Loblaw has not disclosed evidence of expanding its plant-based portfolio and has decreased the number of products within its PC Plant Based range from 95 products to 90 from the previous reporting year.
No Evidence
Annual evidence of resource allocation
Loblaw has disclosed the number of products the company has in its PC Plant-based portfolio annually since FY2021. The number of products within this range have decreased since FY2022 moving from 95 products to 90.
Full
Improving Nutrition and Sustainability Attributes
DNF
Dedicating resources to improve the nutrition and sustainability of products
The Loblaw company is working to remove 10 ingredients of concern in over 1,000 products as part of the company's no nameĀ® Simple CheckTM program, however, it is unclear how many of these products are plant-based.
No Evidence
Reformulating products to improve nutrition
There is no evidence for this KPI.
No Evidence
Reformulating products to improve sustainability
There is no evidence for this KPI.
No Evidence
Consumer Education - Consistency of Marketing Strategies
Low
Commitment Across Geographies/Brands
DNF
Commitment to marketing alternative protein sources
There is no evidence for this KPI.
No Evidence
Business coverage of marketing commitment
There is no evidence for this KPI.
No Evidence
Nutrition and Sustainabilty
Low
Promoting the nutritional attributes of alternative protein sources
There is no evidence for this KPI.
Limited
Promoting the sustainability attributes of alternative protein sources
The company does not promote the sustainability attributes of alternative protein sources.
No Evidence
Consumer Research
Low
Conducting consumer research on alternative protein sources
Loblaw brand President Choice has conducted consumer research in its Canadian market to understand consumer interest in trying plant-based alternatives. The company found that 49% of Canadians are interested in trying plant-based alternatives.
Limited
Conducting consumer research on healthy diets
There is no evidence for this KPI.
No Evidence
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Workstream Information
Business Type:
Retailer
Company Feedback Given:
Yes
Last Updated:
8 July 2024
2024 Resources
Protein Diversification Phase 1 Progress Report Protein Diversification Engagement