MAF RETAIL IN BOOST FOR GREENER FLEETS

The new programme incentivises suppliers that meet sustainability criteria such as using energy-efficient equipment, employing fuel efficient vehicles, and minimizing landfill waste, with favourable financing terms.

Majid Al Futtaim Retail, operator of the Carrefour franchise in the Middle East, Africa and Asia, and Standard Chartered Bank says their new Sustainable Supply Chain Finance programme aims to incentivise their supplier partners to improve their sustainability performance and indicators, and address key

Environmental, Social and Governance (ESG) risks within the supply chain.

It is the first launch in the region for an initiative of this kind and the firms say they will work with a diverse range of Carrefour’s most active suppliers in the UAE to introduce a pilot programme ahead of the official programme launch, covering a wide range of categories offered at Carrefour.

Majid Al Futtaim Retail added that the programme, will enhance its own commitment to supporting local economies, producers and suppliers across the markets that it serves from whom it sources more than 80% of its products.

“Today’s announcement is a great moment for Majid Al Futtaim, as it combines two core aspects of our extended responsibilities to the communities we operate in together; supporting our suppliers, and driving our sustainability agenda,” said Hani Weiss, CEO, Majid Al Futtaim Retail.