In a rare instance of retailers working together, four of the UK’s major supermarkets have collaborated in a new charity initiative tied to the new 5p charge on plastic bags.
Asda, Iceland, Morrisons and Waitrose have pledged funds from the new levy to support the construction of a new dementia research centre at UCL university in London.
In addition to committing funds from their own stores, the four chief executives are today writing to their counterparts at all other UK food retailers, urging them to lend their support either this year or over the next five years.
With a total investment of £350 million, the proposed research centre currently has a funding shortfall of £100m, and the cash generated by carrier-bag sales in food retailers across Britain has the potential to bridge much of that gap.
The new centre aims to help the G8 Group challenge to find a cure for dementia by 2025.
