Our scale for good strategy

Tesco warehouse
 

Rebecca Shelley

Rebecca Shelley

Group Corporate Affairs Director

Over 500,000 colleagues around the world

Over 85 million shopping trips a week

Suppliers in over 70 countries

We introduced our third value – we use our scale for good – in recognition of the fact that we can make a wider contribution to society by drawing on our operational skills and our scale. This new value stands alongside two other corporate values: no one tries harder for customers and we treat everyone how they want to be treated.

Taken together, our values set out the kind of business we want to be and help us to deliver our core purpose – we make what matters better, together.

Significantly, our values do not sit in isolation from our business strategy. They reinforce and underpin it.

The world is changing. Many of the most pressing social and environmental issues can only be solved if businesses work alongside communities, governments, experts and charitable organisations to tackle them.

We want to be a leader in tackling these challenges because they are relevant and because there is value in doing so. In the new era of retail, we believe that customers will increasingly reward companies that they trust and that make a wider contribution to society.

That is why over the past year we set out on a journey to help tackle three long-term challenges which are relevant to us as a global retailer and which matter to society. These challenges are represented in our three big ambitions:

  • Leading in the global fight against food waste
  • Helping customers and colleagues live healthier lives
  • Creating opportunities for millions of young people

These issues also matter to the future of Tesco. For example:

  • Reducing food waste helps to address the long-term concern about food security as well as helping to make us more efficient
  • Health and obesity are issues that our customers really care about and are driving demand for healthy products
  • Attracting and retaining people with the right skills is important for developing a pipeline of future talent – young people are our customers and colleagues of the future

At the same time, we have continued to strengthen the work we do around our essential commitments - those areas of responsibility which are fundamental to the way we do business every day: trading responsibly; reducing our impact on the environment; being a great employer and supporting local communities.

We started by mapping the problems and developing strategies which will enable us to make the biggest difference for the future. Insight-to-action has been the basis for all our work this year.

We have also taken action in key areas. For example, we have calculated and shared food waste data in our own operations and across the value chain. We have launched The Tesco Eat Happy Project to help improve the next generation's relationship with food and we have carried out new research on the challenges young people are facing.

In many cases, using our scale for good means being more collaborative, including helping to connect and coordinate different partners in different countries and across a global supply chain. As this report shows, we have already been able to build partnerships and collaborate across a range of areas this year. Our aim for next year will be to move from insight-to-action towards an approach which uses action to achieve long-term impact.

Using our scale for good

  • Our role in society is an extension of our core purpose: we make what matters better, together.
  • Our values are: no one tries harder for customers; we treat everyone how they want to be treated and we use our scale for good.
  • Our three big ambitions and our four essentials show how we will use our scale for good.

Our three big ambitions

To lead in reducing food waste globally

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To improve health and through this help to tackle the global obesity crisis

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To create new opportunites for millions of young people around the world

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The essentials

We trade responsibly
by putting our customers first and building strong partnerships to provide high quality products.

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We are reducing our impact on the environment
by aiming to be a zero-carbon business by 2050 and using scarce resources responsibly, including in our supply chain.

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We are a great employer
– creating opportunities that make our colleagues happy and proud of what they do.

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We support our local communities
by being a good neighbour and running our business to the highest standards.

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