Mejuri Becomes First Jeweler to Join Regenerative Mining Initiative, Tony's Chocolonely Unveils Future-Proof Legal Structure to Protect Its Company Mission, Finding Potential in Peers: The Importance of Pre-Competitive Partnerships, Aquaculture Industry Must Become Regenerative or Fail to Meet Demand by 2050, 2 Biotech Startups Are 3D Printing Fish to Give the Ocean a Rest. Plan A was originally launched ten years ago, and has set out a range of commitments over this period. Going further, this year we launched our new Food Human Rights standard and at the same time we expanded the reach of our social audit assessments further down our clothing supply chain. Specifically, it has pledged: M&S will report on Plan A 2025 progress every year in June and the commitments will be assured by independent auditors and M&S own audit team. TO DELIVER THIS, WE NEED OUR COLLEAGUES TO UNDERSTAND BETTER THE CARBON IMPACT OF OUR PRODUCTS AND PROCESSES AND WE NEED TO BACK OUR SUPPLIERS TO INNOVATE AND ADAPT TO THE, Welcome to our 2022 Sustainability Report, Welcome to our latest sustainability report, which updates you on the progress we are making to deliver our ambition of sustainable, profitable growth and long- term value creation for all stakeholders. C21.P38As these supplier achievements show, the scorecard initiative has the potential to align suppliers with M&Ss sustainability goals in mutually beneficial ways. The ESG Committee provides additional rigour, support and challenge for the business, ensuring we continue to focus on leading sustainability delivery, to put sustainability at the heart of our customer proposition, and to deliver the reinvigorated Plan A programme. As an own-brand retailer, one of our biggest strengths is the close relationships we've created with our trusted supplier partners, from farms to factories and I've been, revolving credit linked to the delivery of our net zero targets. This season, M&S is making it easier to remember the extras by welcoming third-party brand partners Smiggle and Hype to over 100 M&S stores across the UK. 116 NominationCommittee report 120 Workforce Engagement Committee report 124 Audit Committee report 132 Risk and Sustainability Committee report 136 Directors remuneration report 2021 155 Directors report Financial statements 163 Statement of Directors Responsibilities 164 Independent Auditors Report 171 Consolidated Income Statement We aim to add further Food and Clothing & Home supply chain details by 2019 and details of raw materials suppliers by 2022. Marks & Spencer has revived its 2006 Look Behind the Label campaign as part of its latest sustainability push. These targets span specific metrics associated with our net zero goal across the value chain, including commitments to zero deforestation and sourcing conversion-free soy, sourcing more sustainable fibres, reducing emissions in our property estate, and eliminating millions of units of single use plastic packaging. Customers have trust in us but it is distant, they assume we are doing [sustainability] but we have not put the detail in front of them, Barry told Marketing Week. M&S school uniform is designed to be durable and pass the hand-me-down quality test to ensure even when its outgrown, its too good to waste and can be handed down to family and friends. As part of this, M&S has pledged to cut its carbon footprint by a third by 2025, from a 5.7million tonne baseline in 2017. Even though 98 per cent of M&S products are sold under its own brand, M&S does not manufacture any products itself and relies instead on its suppliers. as our business relationships develop. I thank Steve for his. Published Jun 6, 2017 9am EDT / 6am PDT / 2pm BST / 3pm CEST. And M&S aims to incentivize and facilitate better and leaner practices amongst suppliers. The Family Matters Index, of participants are concerned about their family's impact on the environment, are making more effort to educate themselves about their environmental impact as a consumer, Read more in the February 2022 M&S Family Index Report here. According to the latest M&S Family Matters Index, the cost of living remains a concern for 81% of families, with 62% of customers placing value as the most important priority when shopping. 4.6 / 5.0 (74) Marks and Spencer Group PLC reports have an aggregate usefulness score of 4.6 based on 74 reviews. Retrieved from: advantage.marketline/ MarketLine Case Study. For more details on how M&S is successfully leveraging the scorecard mechanism to build more a sustainable supply chain, download the full case study here. Get amazing offers & the best quality products with easy returns & M&S has revived the Look Behind the Label campaign as part of its Plan A strategy. Most Recent Annual Report MOST RECENT 2022 Annual Report View Achievements include becoming carbon neutral, sending no waste to landfill and sourcing 100% of the wild fish it sells from the most sustainable sources available.. One of the worlds leading ethical trade membership organisations, Sedex, works with businesses to help them better manage their social and environmental performance and improve working conditions in global supply chains. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Five years into its sustainability efforts, Marks and Spencer has demonstrated a strong business case for sustainability, with 185m in net benefits from Plan A made available to be reinvested back into our business.. This wont be easy. This March, M&S and Costa Coffee launched an exciting partnership to bring together two of the nations favourite high street brands. Last week, the retailer launched Plan A 2025, which contains the company's sustainability aims for the next eight years, including the goal of making Marks & Spencer a zero-waste business. Discover M&S and our different businesses, including Food and Clothing & Home. C21.P7In order to offset potential risk, M&S needed to create new ways in which to align suppliers with M&Ss broader sustainability goals. As will always be the case with an ambitious, stretching plan, some of our goals are behind plan, but in every case we have an action plan to address the challenges and hit our commitment targets.. ". While many have applauded this next step, others fault the company for not going further to address issues such as living wages for employees. We play our part in collaborative movements such as the British Retail Consortium's Climate Action Roadmap, the Consumer Goods Forum's Coalition. These issues are front of mind for our customers and colleagues, as we saw demonstrated in their overwhelmingly generous response. Resource efficiency is associated with supply efficiency and reduced costs associated with raw material, energy, and waste. C21.P35 Brandix, a designated M&S eco-factory, was named clothing supplier of the year in 2012 for reducing carbon emissions by 80 per cent, energy usage by 46 per cent, and water consumption by 58 per cent. Secondly, the retailer is developing a programme of learning to grow carbon literacy and equip its colleagues with the understanding to identify carbon-related risks and opportunities. As I pass the baton to the new leadership team, I am proud of what we've achieved in the last year and I know they share my commitment to building a more sustainable future for our customers, colleagues, shareholders and communities. In 2021, we launched our quarterly Family Matters Index, designed to help us to understand the priorities, challenges and ambitions of families across the UK and how they change over time. on Forced Labour/Human Rights, WWF's Retailers Commitment for Nature, Textiles 2030, and Business in the Community's Places Programme. Access to more detailed and interactive content We actively engaged with multi- stakeholder groups and governments on supply chain challenges in the UK, Kenya, India, Bangladesh and Turkey. The full Back to School product range is available in store and on M&S.com and available for next-day delivery or free Click & Collect to over 700 M&S locations. C21.P39Looking ahead, M&S aims to source 100 per cent of products from at least Silver-level suppliers by 2020. Caring about our impact on the world today and in the future is good business. Image courtesy of Flickr user alantankenghoe. To achieve this, M&S has said it will: Since Plan A launched 10 years ago, M&S says it has helped the company redefine the role of business in society. 0907 GMT - Marks & Spencer is expected to report a positive start to FY 2024 given This approach stems from the belief that suppliers may be concerned that M&Ss buying departments would use the information to negotiate on price. Among the report highlights: Marks and Spencer has a convincing business case for sustainability. C21.P1Over the past decade, Marks & Spencer (M&S)a major British retailer of household items, food products, and clothinghas increased its focus on fostering sustainability throughout its supply chain. C21.P20The third element of the scorecard is lean manufacturing. Hazel Cully, Silver and BeyondFoods Sustainable Factory Programme, https://corporate.marksandspencer.com/blog/stories/silver-beyond-food-factory. What does it mean to become a sustainable business and what steps must leaders take to integrate sustainability into their organization? Group profit before tax and adjusting items 19/20: +29.7%, Adjusted earnings per share 19/20: + 29.9%. M&S is being led by its latest M&S Family Matters report, which showed 64% of its 5,000 respondents named climate change as a top concern and was the fastest-growing family topic, increasing by 7% on the previous quarter. But setting systematic processes and frameworks that ensure continuous improvement gets you there. C21.P25The scorecard enables M&S to understand and manage its supply chain better. For this reason, M&S has to take a special interest in developing relationships with its suppliers and collaborating with them in the area of sustainability. As a business thats been around since 1884, we know how important it is to look to the future. Achieving even a silver status is a long (it takes an average of two years to go from bronze to silver) and difficult process that requires suppliers to make significant changes that must drive genuine positive impacts to how they work. Marks & Spencer Likely to Report a Robust Start of FY 2024. During the year, we played our part in supporting our supplier partners and advocating for greater support for the most vulnerable people in our supply chains. C21.P32As a result of the Sustainability Scorecard programme, M&S created value and savings across its supply chain: C21.P33 Through the introduction of vacuum packing for fresh meats, an unnamed company calculates it saved 16.3 million in 2011/12. 0907 GMT - Marks & Spencer is expected to report a positive start to FY 2024 given encouraging read across the THREAD is partnering with AWS to streamline procurement for life sciences organisations and help them access high quality SaaS offerings. M&S has also relaunched its Look Behind the Label campaign, which will detail how five everyday products are sustainably sourced, which customers will be able to view through the Look Behind the Label online hub, which launches today. Marks & Spencer Likely to Report a Robust Start of FY 2024 . Welcome to Marks and Spencer India. In 2010, M&S established a Sustainability Scorecard that aims to align suppliers with the companys sustainability objectives by tracking the progress of their own sustainability activities.2 This scorecard enables M&S to award Provisional, Silver, Bronze, and Gold ratings to participating suppliers. 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