In October 2021, Compass became the first international company in the contract catering industry to announce a global commitment to Climate Net Zero by 2050, including validated Science Based Targets and a commitment to be carbon neutral worldwide in its own operations by 2030.
Eligible projects include:
- Expenditure on goods which are certified Sustainable, Fairtrade or Organic;
- Expenditure on goods from local, socially diverse or minority suppliers;
- Expenditure in support of the Group’s Net Zero Commitment such as the costs of electrifying fleet, use of renewable energy, promotion of plant-based products, and investment in regenerative food production;
- Food Waste reduction projects including measurement technologies and systems;
- Non-food waste reduction projects including tackling plastic waste, and the promotion of reusable items; and
- Investment in healthy eating initiatives, including in unit education, labelling and staff training.
Palmer Brown, group chief financial officer at Compass Group, said: “As a group, we recognise the importance of acting on climate change and are committed to delivering a sustainable future for all. Our new Sustainable Bonds and Sustainable Financing Framework not only reflect our objective to be a socially and environmentally responsible organisation for our clients, employees, suppliers, and wider society; they also support our long-term Climate Net Zero ambitions.
“We intend for the proceeds of the Sustainable Bonds to initially support the increased purchase and tracking of Fairtrade and sustainable goods within our supply chain, reducing our Scope 3 emissions footprint, while funding diverse and minority suppliers.
“Furthermore, by providing a sustainability reporting framework for our colleagues to adhere to, we expect to see additional operational benefits across the Group’s businesses, reinforcing more sustainable practices and behaviours, while accelerating existing projects that underpin our growth and drive efficiencies.”