UK political parties are urged to uphold net zero promises.
- Ken Murphy highlights the transformative power of green innovation.
- Investment levels in the UK lag behind the OECD average.
- Low-carbon fertilisers could mitigate rising agricultural costs.
- Significant expansion planned for Tesco’s low-carbon fertiliser trials.
The Tesco CEO, Ken Murphy, has called for UK political parties to reaffirm their commitment to net zero targets. This request is based on the belief that consistent policies will foster business confidence and drive necessary investments for sustainable growth.
Murphy, speaking at the Reuters Impact event, emphasized the vital role of green innovation within the food industry. He posited that such advancements are pivotal not only for reducing costs but also for securing the future of food supply and stimulating green economic expansion. “As we work to protect customers and suppliers from rising costs today, we must also do all we can to safeguard the shopping basket from shocks tomorrow,” Murphy stated, reinforcing the need for a resilient and sustainable food system.
Despite the potential benefits of going green, Murphy highlighted that current investment levels in the UK remain below the OECD average. This shortfall underscores an imperative for collaboration between government and industry to catalyze large-scale innovations.
One of Tesco’s responses to this challenge is the expansion of trials using low-carbon fertilisers. This initiative is set to grow tenfold, significantly increasing the hectares cultivated with these innovative solutions by 2024. The trials, which began with 1,400 hectares, have yielded promising results, with emissions reductions of up to 50% without compromising on agricultural effectiveness. By 2024, Tesco aims to expand the project to 13,000 hectares, incorporating its Sustainable Farming Groups in this green transition.
Conventional fertiliser prices have soared by as much as 140% over the last year, presenting a serious challenge for farmers. However, the low-carbon fertilisers, mainly produced from domestic materials such as food waste and chicken litter, offer a cost-effective and stable alternative. These innovations not only promise economic relief but also reinforce sustainability in agriculture.
Continued dedication to net zero initiatives is crucial for ensuring long-term sustainability and economic resilience in the UK food sector.
