Co-op has pledged to raise £70m through its levy share scheme to create 7,000 apprenticeships by 2030.

The scheme enables levy paying employers to transfer unused apprenticeship levy funds to businesses, charities and community organisations.

The retailer said the scheme “is designed to break down barriers to work and progression”.

“We launched Co-op Levy Share to unlock unused levy funds and turn waste into opportunity,” said Co-op chief people and inclusion officer Claire Costello.

“Four years on, alongside our contributing partners, we’ve already channelled £40 million into thousands of lifechanging apprenticeships, and today we’re going further, committing £70 million to create 7,000 apprenticeships by 2030.”

In announcing the commitment, the Co-op is calling on the government's apprenticeships organisation Skills England to collect socio-economic data on apprenticeships to ensure schemes are targeting support “where it's needed most”.

Since its launch four years ago the Co-op’s scheme has already raised £40m for apprenticeships, with three in ten identifying as non-white, more than two in three as female and one in six declaring a disability.

Two thirds of the 3,800 apprenticeship opportunities created so far have been in the UK’s most deprived communities and a third have been in the care sector.

Costello added: “To truly drive social mobility, we need to measure who benefits. That’s why we’re calling on Skills England to start collecting SocioEconomic Background (SEB) data for apprenticeships.

“Without it, the system risks leaving some groups behind. Shining a light on access means we can target support where it’s needed most and build a fairer future for all.”

The Co-op warns that since the apprenticeship levy was introduced in 2017 there has been a 31% drop in apprenticeship opportunities.

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