Asda and Lloyds Unveil Supply-Chain Finance Scheme to Boost Sustainability

UK grocer Asda has launched a supply-chain finance scheme with banking group Lloyds to encourage suppliers to share sustainability data and make progress on environmental performance. Suppliers that meet the program's requirements will benefit from preferential financing rates, while those who don't engage will remain on current payment terms. Asda aims to achieve net zero operations by 2040 and has developed a carbon transition plan aligned with science-based targets to support net zero by 2050.