The Co-op Group has launched an £820,000 fund to support sustainable farming efforts, as part of its “long-term investment in UK agriculture”.
The c-store specialist said the fund will directly reward farmers for their efforts in reducing carbon emissions and promoting nature on their farms across beef, lamb and dairy sectors as part of two new sustainability projects.
Participating farmers will be able to access sustainability payments above what they are already paid for products.
The first sustainability project will focus on the dairy sector and see the Co-op partner with the Soil Association Exchange to support 140 farmers in lowering their carbon footprints and begin to track key nature indicators like biodiversity and soil health.
The second project will be focused on Co-op’s beef sustainability scheme and will reward farmers for adopting on-farm sustainable practices and will be open to the c-store specialist’s farming group members.
Co-op managing director Matt Hood said: “We know British farmers are facing many challenges and have seen firsthand the fear, anxiety and anger they are currently feeling.
“Backing UK agriculture is more important than ever – at Co-op, this means investing hundreds of millions every year to be one of the few UK retailers to be totally 100% British across meat, poultry and dairy throughout our own supply chain and committing support for farmers addressing the growing need for sustainability and climate resilience,” he said.
“We know our members and customers feel the same and they value being able to buy the high quality, British-sourced products they love.”
The Co-op unveiled “ambitious” new sustainability targets last May, which it tied to its revolving credit facility.
The targets include reducing carbon emissions across its supply chain, with the aim of enrolling two thirds of suppliers in the Science Based Targets initiatives by the end of the year.
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