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Tuesday July 5 2022

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    Mr Justice Linden: “If it contains excess fat, sugar or salt, that product is adverse to a child's health"

    Kellogg’s loses court case over sugary cereal

    Farmer Andy Pimbley examining ripening strawberries inside a polytunnel at Claremont Farm in Bebington on the Wirral © Colin McPherson/FT

    Labour shortfall leading to ‘catastrophic’ food waste

    The Longview Power Plant, a coal-fired plant, stands on August 21, 2018 in Maidsville, West Virginia. The plant’s single unit generates 700 net megawatts of electricity from run-of-mine coal and natural gas. Spencer Platt | Getty Images

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    Fertilisers: going cold turkey in a time of crisis

    European Commission Vice-President Frans Timmermans, European Commissioner for Health and Food Safety Stella Kyriakides, and European Commissioner for the Environment Virginijus Sinkevicius

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    Mr Justice Linden: “If it contains excess fat, sugar or salt, that product is adverse to a child's health"

    Kellogg’s loses court case over sugary cereal

    Farmer Andy Pimbley examining ripening strawberries inside a polytunnel at Claremont Farm in Bebington on the Wirral © Colin McPherson/FT

    Labour shortfall leading to ‘catastrophic’ food waste

    The Longview Power Plant, a coal-fired plant, stands on August 21, 2018 in Maidsville, West Virginia. The plant’s single unit generates 700 net megawatts of electricity from run-of-mine coal and natural gas. Spencer Platt | Getty Images

    US Supreme Court limits EPA authority

    “Understanding the emergence of CC398 in European livestock is vitally important for managing the risk it poses to public health”

    Super bug that arose in pigs can jump to humans

    Martin Lines, UK chair for the Nature Friendly Farming Network, says farmers will continue moving away from fertilisers and pesticides

    Fertilisers: going cold turkey in a time of crisis

    European Commission Vice-President Frans Timmermans, European Commissioner for Health and Food Safety Stella Kyriakides, and European Commissioner for the Environment Virginijus Sinkevicius

    EU to halve use of pesticides, heal nature

    trade deals

    WTO strikes global trade deals after ‘roller coaster’ talks

    inflation

    Food inflation is swallowing Latin America’s dietary staples

    Protestors outside UK Parliament with a placard reading, "Keep the protocol, keep the peace."

    New EU legal action over post-Brexit deal changes

    Buyers at Risk Countries in Africa and Asia are among the most reliant on Ukraine grain

    US quietly urges Russia fertiliser deals

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    Mr Justice Linden: “If it contains excess fat, sugar or salt, that product is adverse to a child's health"

    Kellogg’s loses court case over sugary cereal

    Farmer Andy Pimbley examining ripening strawberries inside a polytunnel at Claremont Farm in Bebington on the Wirral © Colin McPherson/FT

    Labour shortfall leading to ‘catastrophic’ food waste

    The Longview Power Plant, a coal-fired plant, stands on August 21, 2018 in Maidsville, West Virginia. The plant’s single unit generates 700 net megawatts of electricity from run-of-mine coal and natural gas. Spencer Platt | Getty Images

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    Fertilisers: going cold turkey in a time of crisis

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    EU to halve use of pesticides, heal nature

    Executive director of Nourish Scotland, Pete Ritchie: “If the UK could just get over itself, alignment on sustainable food with the EU would be helpful”

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Home Topics Retail

Tesco responds to investor pressure on healthy products

ShareAction says the news "demonstrates the power of investor engagement"

by May Davies
March 5, 2021
in Data, Business, Health, Governance
Reading Time: 2 mins read
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Tesco responds to investor pressure on healthy products

Tesco Group CEO Ken Murphy

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Investment NGO ShareAction has cautiously welcomed new commitments to promote a healthy diet by Tesco, the UK’s biggest supermarket. Tesco  announced the commitments in response to a February shareholder resolution led by ShareAction, to sell more healthy products.

Seven institutional investors managing £140 billion in assets, together with 101 retail investors, co-filed the February resolution, which will be put to shareholders at the company’s annual general meeting. It was the first health-based resolution to be filed at a UK-listed company. ShareAction says it reflects rising investor concerns over health impacts.

Tesco has said it will increase sales of healthy products to 65 per cent by 2025, up from 58 per cent. And sales of plant-based meat alternatives will rise by 300 per cent in that time.

The company said it’s committed to removing billions of calories and thousands of tonnes of salt, fat and sugar from products, without affecting taste, as part of a rolling programme of reformulation.

It will offer affordable plant-based protein options, and increase promotions on healthy products.

Jessica Attard, Head of Health at ShareAction, said, “Today’s news demonstrates the power of investor engagement. Tesco’s new plans are an important recognition of the role supermarkets play in shaping our diets, at a time when our health has never been more critical.

“With 27 per cent of the British grocery market, Tesco has an outsized influence on the nation’s health”

“We look forward to continuing to work with Tesco, and to seeing other supermarkets and food manufacturers step up to this challenge.”

However, the plans only cover Tesco-branded UK outlets, not Budgens and Londis-branded stores. These are owned by Tesco, through Booker, and its international operations. ShareAction will also seek clarification on Tesco’s health definitions, to make sure products really are improved.

The NGO’s view is that with 27 per cent of the British grocery market, Tesco has an outsized influence on the nation’s health.

Its resolution, to be put to a vote at Tesco’s AGM, would require the company to disclose the share of total food and non-alcoholic drink annual sales by volume, made up of healthier products. And to develop a strategy for significantly increasing that share by 2030. It would also require Tesco to publish a review of progress in its annual report from 2022 onwards.

Investors co-ordinated by ShareAction made similar requests at Tesco’s 2020 AGM, but significant commitments or progress hadn’t been forthcoming.

Anna Taylor, Executive Director at The Food Foundation said, “Tesco sets out some great commitments. They should be proud of the speed at which they have added more veg to the ready meal category.

“I hope other retailers are taking note! Today’s announcements show Tesco is up for the challenge.”

Tesco Group CEO Ken Murphy said, “Customers are telling us they want to eat a more healthy, sustainable diet, but without having to stretch the weekly shopping budget. We can help them make that change.

“Today we are sharing our new ambitions on health, and committing to reporting our progress against them.”

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May Davies is a founding contributor to Quota. She is a freelance writer specialising in food systems delivered by the business and policy sectors. Contact MayDavies@quota.media.

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