Sainsbury’s gives green light to sustainable start-ups with £5 million investment
Sainsbury’s will invest a minimum of £5 million over the next four years into start-up businesses that focus on sustainability.
The grocer said it will invest in businesses commercialising sustainable technologies that look to reduce operational carbon emissions and water usage, as part of its Sainsbury’s Innovation Investments launch.
Sainsbury’s partnership with Williams Advanced Engineering (WAE), will scout and invest into early-stage companies, not limited to the Sainsbury’s supply chain, across a range of sectors.
The first investment is expected to be announced before the end of 2022.
In addition to providing much needed investment, Sainsbury’s is looking to accelerate dynamic startups and Small/Medium Enterprises (SME’s) in developing, testing, and deploying transformational technology that can reduce carbon emissions and water usage.
This announcement furthers the significant progress Sainsbury’s has already made in reducing its impact on the environment, having drastically cut its carbon emissions in its own operations by 762,119 tCO2e, a reduction of 7% year-on-year and 20% from its 2018/19 baseline, keeping the retailer on course to meet its Net Zero target of 2035.
