Tesco Pledges $50 Million To Fund Green Institute

September 13, 2007

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Tesco’s CEO Sir Terry Leahy has announced that the supermarket chain will give about $50 million for a sustainable consumption institute at Manchester University that will investigate clean tech and sustainability issues, Guardian Unlimited reports.Leahy also said that the company is ready to raise prices to deliver a revolution in green consumption.

Leahy said carbon costs have “not yet been priced into consumption today” and that business, consumers and government had to make big changes to move to a low-carbon economy, including the possibility of higher prices. “We have to do this,” he said.

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