Sainsbury’s has committed to spending £1bn to meet its pledge to become a net zero business across its own operations by 2040.

The supermarket giant said it would use the investment to “implement a programme of changes” to focus on reducing its carbon emissions, food waste, plastic packaging and water usage, as well as increasing recycling, biodiversity, and healthy and sustainable eating.

The grocer will work with the Carbon Trust to asses the level of its current emissions and “set science-based targets for reduction”, publicly reporting those findings every six months.

Its targets will align the retailer with the goal to limit global warming to 1.5°C in line with the Paris Agreement.

The retailer said that it has reduced carbon emissions by 35% over the last 15 years, but that its overall carbon footprint is 1 million tonnes.

Sainsbury’s said it will also work “collaboratively with suppliers” to set their own reduction targets, in line with those it has set itself.

The supermarket giant said the £1bn investment won’t impact its net debt reduction targets, and reiterated it still continues to expect net debt to reduce by at least £300m in 2019/20 and £750m over the next three years.

Chief executive Mike Coupe said: “Our commitment has always been to help customers live well for less, but we must recognise that living well now also means living sustainably.

“We have a duty to the communities we serve to continue to reduce the impact our business has on the environment and we are committing to reduce our own carbon emissions and become net zero by 2040, ten years ahead of the government’s own targets, because 2050 isn’t soon enough.

“We recognise that we have a once-in-a-lifetime opportunity to make the changes needed to help the planet exist sustainably. We have over 27 million customers each week and almost 180,000 colleagues and we hope that we can collaborate across industries and sectors to help create momentum and drive meaningful change.

“Only when the trajectory for global warming slows to a maximum of 1.5 degrees will we all know that we can truly live well for less now and in the future.”

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