Business
Loblaw to Sign Canada’s Grocery Code of Conduct, Urging Industry-wide Compliance
Loblaw Companies Limited makes a significant announcement, expressing its readiness to sign Canada‘s Grocery Code of Conduct, propelling the industry towards a fairer landscape. This declaration comes after deep-seated conversations held during the Supplier Summit event with more than 1,300 suppliers. The commitment reflects Loblaw’s dedication to fostering a transparent and equitable grocery sector in Canada.
The discussions, spanning over six months, involved the Code Interim Board and Working Group, culminating in a clear and fair Code ready for adoption. According to Per Bank, President and CEO of Loblaw Companies Limited, the code emphasizes fairness for all involved without driving up consumer prices. The enactment of the code hinges on the participation of all major retailers and suppliers, heralding a new phase for Canada’s grocery industry.
The Grocery Code of Conduct was instigated by the Federal-Provincial and Territorial Ministers of Agriculture, with the aim of creating a voluntary, industry-guided solution. The development of the Code, extending over two years, represents a collaboration involving various grocery industry entities to ensure comprehensive support across the entire supply chain. A key focus during the Code’s formulation was to cater to small suppliers, consumers, and industry intricacies, acknowledging the nuances of the Canadian grocery market.
Michael Graydon, Chair of the Interim Board for the Code of Conduct, lauded Loblaw’s decision to participate in the Grocery Code of Conduct, viewing it as a step towards widespread adoption. The Code envisions an inclusive, voluntary framework, developed and managed by stakeholders across the supply chain. Loblaw vows to continue collaborating with the industry as the Code progresses towards implementation.
Loblaw’s endorsement of the Grocery Code is poised to set a new standard in Canada’s grocery sector, uplifting the relationship between retailers and suppliers for the benefit of consumers.
