Penny Germany, a prominent supermarket chain, has recently ushered in a price increase on nine of its products, under an initiative called Wahre Coste. This move is driven by the intention to reflect the environmental impact in their production process. The price adjustment covers a range of items, including meat, dairy, and even vegan products.
The determination of the new prices was not a one-man job; it involved the expertise of professionals from the Universities of Nuremberg and Greifswald. These experts took the task of evaluating the impact of food production on the environment and subsequently reflecting it in the product prices.
In an effort to promote climate-friendly agriculture, the profits accrued from these incremental price changes are set to be channeled to the Future Farmer project. In addition to this, Penny Germany has pledged to contribute an extra 50,000 euros to the cause.
The underlying goal of this campaign is to bring to light the hidden environmental costs associated with food production. Penny’s Chief Operating Officer emphasized that the current product prices do not fully capture the environmental costs, hence the need for the price adjustment.
Penny Germany is actively advocating for consumers to make eco-friendly choices. The company holds the view that the environmental and social impacts of food are not adequately reflected in the retail price, creating a discrepancy that needs addressing.
In a bid to further promote eco-conscious consumer behavior, Penny Germany has partnered with the University of Augsburg to launch a trial of price tags that reflect the environmental impact of food production. These “true cost” price tags take into account several factors, including greenhouse gas emissions, over-fertilization, and biodiversity loss.
While the initiative does not charge customers the true cost, it is primarily aimed at raising awareness about the environmental implications of food production. Through this campaign, Penny Germany hopes to inspire a shift towards more sustainable and environmentally friendly consumer choices.
