Marks & Spencer will today announce that it is extending its environmental commitments for a further eight years.

The retailer saved £50m last year from moves to reduce its impact on the environment, such as improving fuel efficiency.

M&S will commit to sourcing all its products from sustainable sources by 2020, according to the Financial Times. The high street icon has already pledged to become carbon-neutral by 2012.

Meanwhile, M&S shareholders have called for Sir Stuart to take a pay-cut when new boss Marc Bolland joins in May.

Sir Stuart will give up his dual role as executive chairman when the former Morrisons chief executive takes the helm. Institutional investors reportedly want to see his £1.13m package reduced when Sir Stuart reverts to a conventional non-executive chairman role.

“We think it is appropriate that Rose takes a significant pay cut and we plan to give that feedback to the company,” one investor told The Sunday Times.

Last month it emerged that Bolland was in line to trouser almost £15m from his first year at M&S, prompting criticism from some investors alarmed over the size of his package.

Read more
Retailers cut landfill by a third (12 November 2009)
How M&S will bring order to the chaos of its supply system (analysis; 31 October 2009)
Unilever, M&S top UN green survey (26 October 2009)
Backlash over Bolland’s £15m golden hello (2 February 2010)