Net-Zero Emissions

The Path Forward to Net Zero Emissions

To Our Community,

I have several brief updates for you today.

Net Zero Emissions

As you know, our organization has pledged to significantly reduce CO2 emissions over the next several years, with the goal of becoming carbon neutral by 2030. For several months, we have been working on this project with VEIC, a highly regarded organization that helps companies, in particular those in the grocery industry, increase their energy efficiency.

After many detailed discussions with members of the leadership team, VEIC presented its recommendations to the Board at the December meeting.

Since then, the leadership team has been discussing the recommendations with the VEIC team carefully and will be planning out the phases of the project.

The plan will take commitment, collaboration, and attention to detail from all our teams here, but the results will certainly be worth it.

Look for more information as this moves forward. In the meantime, as always, I will update you each step of the way. 

Salary Review

Last fall I told you about our plan for a comprehensive salary review to be completed no later than April 1 of this year. Working with third-party consultants with expertise on the VT and NH compensation markets, the goal is to collect and analyze data so our Co-op can more objectively reward employee performance.

I know many of our employees, if not all, are eager to hear the results of this review. I am pleased to tell you the project is still on track. That said, there are many pieces of data to review, and it may take some additional time.

The review entails ensuring each job, at every grade level, at the Co-op is appropriately matched to the industry data.

From that, we need to ascertain how these positions compare to the recommendations put forth by our consultant. For example, are the wages for a particular job at the Co-op below the minimum, at the average, or above the maximum for that job description in the industry data. Once that is determined, we will be able to plan how and where we need to make adjustments to our compensation plan.

Regarding that, let me make one thing perfectly clear—salary adjustments that are necessary to bring any position into alignment will only be to the positive. Throughout this adjustment process, those salaries that are affected will only go up, never down.

The Lighthouse

The Lighthouse is our Co-op’s diversity, equity, and inclusion committee. The group recently prepared an excellent video on the subject of unconscious bias, which is required viewing by all employees no later than May 31, 2022. The video is available on Co-op U, our training and education portal.

I would like to recognize all the members of The Lighthouse for their important work. My thanks to each member of the team for sharing this important resource with us. For employees who would like to discuss the topic further, voluntary discussion sessions will be held in June and July.
 

Wrap Up

Thank you to all our members and shoppers for the ongoing support. We will talk again next Thursday. Remember to be kind to one another and to yourselves, and we look forward to serving you in our stores and at the curbside.

Onward and upward,

Paul

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Paul Guidone

Paul Guidone, CFA, spent the better part of four decades in the investment management business here and abroad. He held positions ranging from analyst through Deputy Chairman and Group CEO, at organizations such as Citigroup (US) and The HSBC Group (London and Hong Kong). He joined the Co-op in 2016 as the CFO and in 2018 became Strategic Advisor to the General Manager. Paul was appointed by the Co-op Board as interim General Manager in March 2020 and General Manager in September 2020. To contact, email PGuidone@coopfoodstore.com.

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