M&S announces 1-million-pound investment for net zero goals

British retailer Marks & Spencer has launched a 1-million-pound Plan A Accelerator Fund to invest in projects to help it achieve its net zero goals by 2040.

M&S said it was turning its “market-leading approach to innovation to tackle climate change,” to reduce scope 3 emissions and become a net zero business across all its operations and entire value chain by 2040.

One of the projects it is investing in is a new fibre-to-fibre recycling trial supported by the UK Fashion and Textile Association (UKFT), asking M&S customers to donate their used clothes to Oxfam. The items will be cleaned and used in fibre-to-fibre recycling, where fibres are re-used and turned into new material, which prevents them from going to landfill and towards a more circular fashion economy.

The trial is part of the ACT ‘Textile Waste Project’ led by the UKFT, which aims to develop a UK-based auto-sorting and processing facility (ATSP).

In addition, the UK retailer said its clothing and home business was also looking into piloting the viability of shoe recycling.

Marks & Spencer to invest in new fibre-to-fibre recycling trial

Stuart Machin, chief executive at M&S, said in a statement: “I talk a lot about the ‘magic of M&S’ - and a key part of this is our commitment to innovation. It’s in our DNA and, along with our unique model of own brand, long long-term supplier partnerships, it’s how we deliver the quality and trust our customers expect from us.

“By turning our obsession with innovation towards climate change and tapping into the entrepreneurial spirit of our suppliers we can turbo charge our drive to be a Net Zero business across all our operations and entire supply chain by 2040. I’m excited by the big difference these small changes could make to some of the toughest climate challenges we face.”

M&S's Plan A Accelerator Fund is also trialling a new AI data system to predict a store’s optimal heating, ventilation and air conditioning controls to reduce energy consumption. Trialled across six stores, the aim is to reduce HVAC costs by up to 30 percent. When rolled out across the M&S estate, it could save an estimated 2,000 tonnes of carbon and around 3 million pounds annually.

Other initiatives include an exclusive new feed supplement for cows, which reduces the carbon footprint of fresh milk.