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Domino’s Pizza commits to net zero by 2050, details huge expansion plans



Domino’s Pizza has joined a growing number of major companies making the carbon emission pledge, while also outlining expansion plans.

Domino’s Pizza is pushing ahead with massive expansion plans and joined the growing number of companies committed to net zero emissions by 2050.

The company has also warned it expects to be faced with higher food and energy costs next year.

The fast food behemoth held its annual general meeting and provided a trading update on Wednesday.

Chief executive Don Meij said its network was already 15 per cent bigger than this time last year through new store openings and acquisitions.

There are 3169 stores in the network and the plan is to more than double that number by next decade.

“We have a busy new store pipeline and this year, we aim to open a record number of new stores,” Mr Meij said.

“Indeed, we are targeting FY22 to be the largest expansion of our store footprint in our company’s history.

“We also remain active in pursuing additional markets.”

Over the next three to five years, Domino’s is targeting 9-12 per cent new store growth, and chairman Jack Cowan gave more detail in his speech to investors.

“Where other businesses in our category or broader industry immediately went on the defensive when Covid-19 arrived, Domino’s Pizza Enterprises expanded our presence – opening more stores, marketing to more customers, donating more meals to the community,” Mr Cowan said.

“With the acquisition of Taiwan, our tenth market, and a review of our modelling, Domino’s now expects to operate more than 6650 stores by 2030.

“We foresee significant upside beyond 2033 in our existing businesses, particularly Europe and Asia.”

Mr Meij said the network in both regions were “planned to be bigger than the entire Domino’s Pizza Enterprises of today”.

Mr Meij said Domino’s would, in the next 12 months, set time-bound and science-based targets with an interim goal and a commitment to reach net zero greenhouse gas emissions before 2050.

“We are embracing this responsibility to take action now, and inspire our industry and supply chain partners.”

He said Domino’s would partner with Compassion in World Farming on the company’s Better Chicken Commitment, expanding its pledge for Europe to include Australia and New Zealand.

“We have also expanded our offerings to vegan, vegetarian and flexitarian customers, with plant-based cheeses and alternatives to our traditional proteins,” Mr Meij said.

On expected higher food prices in 2022, Domino’s said long term contracts would provide some buffer.

Shareholder activist Stephen Mayne asked Mr Cowan, aged 79, whether he planned to emulate the boss of the publisher of this title – News Corp chairman Rupert Murdoch – in continuing his career into his 90s.

The executive said that “may be wishful thinking”.

“I may not be that lucky but that would be my desire,” Mr Cowan elaborated.

Originally published as Domino’s Pizza commits to net zero by 2050, pushing ahead with massive expansion plans

Read related topics:Climate Change




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Climate Change COP26: Kevin Rudd critical of Prime Minister Scott Morrison



Kevin Rudd has warned world leaders will see through Scott Morrison’s plan to achieve net zero emissions by 2050.

Former Prime Minister Kevin Rudd has described Scott Morrison as a “C-grade Boris Johnson” and warned world leaders at the COP26 conference will see through his plan to achieve net zero emissions by 2050.

Under Mr Morrison’s plan announced on Tuesday, more than $20bn will be invested in “low emissions technologies”, but the modelling will not be released until later.

Mr Morrison will soon travel to Glasgow for the United Nations Climate Change Conference, but Mr Rudd warned the Prime Minister would likely face some criticism from other leaders.

“I think, for example, you could rely upon the European Union and probably the United States to finger Morrison for, frankly, this duplicitous,” he told the Democracy Sausage podcast.

“The 2050 carbon neutrality debate is a done deal. The real action is what governments are now committing to by way of their renewed, redefined, near-term carbon reduction targets for this decade 2020 through until 2030.

“That’s where the rubber hits the road … most governments are in the business of advancing reductions of around about 50 per cent against 2005 levels of their current greenhouse gas emissions.

“That’s certainly where the Americans have gone, that’s where most of the other majors have gone … so right now, we are a shag on a rock in terms of 2030.

“The illusion being created … is somehow there’s been a Damascus Road conversion and there’ll be garlands of flowers thrown out on the path as Morrison makes his way to the conference centre in Glasgow — nothing could be further from the truth.”

Mr Rudd also hit out at the Nationals, describing the party as “quite corrupt”.

“They’ve ceased to be a party for anything or anybody other than themselves,” he said.

In a wide-ranging interview, Mr Rudd also spoke about Australia’s nuclear-powered submarine deal with the UK and US, scrapping its previous arrangement with France.

“The net consequence of what’s happened, I think is … it’s not just alienating the French, but you’ve actually turned the French into a hostile agent against Australian interests regionally and globally,” Mr Rudd said.

“(Also), you’ve established a reputation sovereignly for Australia as a country which doesn’t honour its contracts — not good.

“I think most critically … we have now at present the illusion of nuclear-powered subs arriving in this country sometime in 2030s, possibly not until the 2040s, and us being left strategically naked on the way through.

“I find that the most absolutely irresponsible element of this entire equation … I wonder where the grown ups in the room have been during these discussions.”

Originally published as Kevin Rudd criticises Scott Morrison’s plan to achieve net zero emissions by 2050

Read related topics:Climate ChangeScott Morrison




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