Insights

Why is the Woolworths (ASX:WOW) share price growing greener today?

The company is making environmentally friendly changes…
The post Why is the Woolworths (ASX:WOW) share price growing greener today? appeared first on The Motley Fool Australia. –

The Woolworths Group Ltd (ASX: WOW) share price is ticking up a notch amid a company initiative to grow greener. The conglomerate yesterday announced it had removed single-use plastic picnicware from stores nationwide.

At the time of writing, Woolworths shares are 1.2% higher at $39.95. Since the start of the month, its shares have climbed more than 5% while the S&P/ASX 200 Consumer Staples (ASX: XSJ) sector has gained 4%.

Woolworths reduces plastic waste

In its announcement, Woolworths advised customers will no longer be able to buy single-use plastic cutlery, cups, bowls, and plates. The latest company directive will cut around 2.1 million kilograms of plastic annually.

An estimated 130,000 tonnes of plastic waste leak into the marine environment every year in Australia. Woolworths noted that it is taking charge to help reduce plastic waste and create a cleaner environment.

Replacing the single-use plastic picnicware, customers can now purchase bowls and plates made from sugarcane pulp, wooden cutlery, and a variety of paper cups and plates. All paper and wooden products in the new range are FSC certified for sustainable forestry.

Woolworths has also removed a number of other single-use plastics in recent years. These include plastic cotton tip stems which have been replaced with paper and sugarcane stems, single-use plastic straws, and the infamous single-use plastic shopping bags.

Woolworths Supermarkets commercial director for everyday needs, James Hepworth, commented:

We’re committed to growing greener for our customers and their communities by increasing the sustainability of our range.

Removing single-use plastic cutlery and other picnicware will not only cut plastic in landfill, but is the right thing to do for the health of our oceans and waterways where these items can unfortunately end up.

Along with this change, we’re offering customers an extended picnic range of more sustainable options made from materials like sugarcane pulp, bamboo, wood and paper.

Woolworths is aiming to have all its own-brand packaging recyclable, compostable or reusable by the end of 2023.

Woolworths share price summary

It’s been a solid 12 months for the Woolworths share price, registering a gain of 18%. It is also up around 15% this year to date.

The company proved its resilience against COVID-19, reaching an all-time high of $42.66 in mid-August.

Woolworths commands a market capitalisation of roughly $48.78 billion and has approximately 1.21 billion shares outstanding.

The post Why is the Woolworths (ASX:WOW) share price growing greener today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Woolworths right now?

Before you consider Woolworths, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woolworths wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

New report says Woolworths (ASX:WOW) ‘not taking climate risks seriously’

These ASX 200 shares could be set to face fresh pressure over climate action

What is inflation? Are Woolworths (ASX:WOW) shares the ‘ultimate inflation hedge’?

Broker upgrade sends Coles (ASX:COL) share price surging higher

Why has the Woolworths (ASX:WOW) share price underperformed Coles in the last month?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!