Shoprite Group secures first green loan in SA’s retail sector

The Shoprite Group has finalised sustainability-linked loans totalling R3.5 billion; a R2 billion loan from Standard Bank (the bank’s largest in the retail sector to date), a R700 million green loan from RMB – a first in the retail sector, and a R800 million sustainability-linked loan – with more in the pipeline.

It plans to expand its investment in renewable energy as a percentage of total electricity consumption; recycle cardboard and plastic; utilize sustainable packaging and up its energy efficiency which includes LED lighting and a monitoring system for refrigeration to reduce its energy consumption and waste.

During its previous financial year, the group reduced its carbon emission intensity by 3.3% and water use intensity by 7.5%; increased the installed capacity of its solar photovoltaic (PV) systems by 82%; reduced electricity consumption by 150 million kWh through its LED lamp replacement project since inception; recycled 46 102 tons of carboard from stores and distribution centres and diverted 10 241 tons of plastic waste from landfills.