Nestlé Announces Plans To Invest €2.95bn To Reduce Greenhouse Gas Emissions
Nestlé has today announced said it will invest 3.2 billion Swiss francs (€2.95 billion) over the next five years in an effort to halve the company’s greenhouse gas emissions by 2030, and to achieve net zero by 2050.
To accomplish this, Nestlé said that it will accelerate initiatives focusing on supporting farmers and suppliers to advance regenerative agriculture and to plant hundreds of millions of trees within the next 10 years.
The Kitkat maker outlined its plans to complete the company’s transition to 100% renewable electricity globally by 2025 and to increase the number of its ‘carbon neutral’ brands.
Nestlé chairman Paul Bulcke said: “The board recognises the strategic importance of taking decisive measures to address climate change."
"It supports accelerating and scaling up our work to ensure the long-term success of the company and to contribute to a sustainable future for generations to come,” he added.
'Environmental Footprint Reduction'
The confectionery giant said that it produced 92 million tonnes of greenhouse gases in 2018, which will serve as the baseline for measuring progress.
"Tackling climate change can’t wait and neither can we. It is imperative to the long-term success of our business," said Mark Schneider, Nestlé CEO.
"We have a unique opportunity to address climate change, as we operate in nearly every country in the world and have the size, scale, and reach to make a difference. We will work together with farmers, industry partners, governments, non-governmental organizations and our consumers to reduce our environmental footprint,” he added.
Energy Efficiency Improvements
Nestlé UK and Ireland has been working to reduce operational greenhouse gas emissions for over a decade and has achieved a 61% reduction per tonne of product since 2007, it said.
The company said that it achieved this result through a combination of energy efficiency improvements and the transition to renewable energy.
In 2016, Nestlé UK and Ireland factories and offices transitioned to 100% renewable grid-supplied electricity by investing in the development of new wind power capacity, it added.
The company said that has also invested in renewable technologies to generate its own green energy, such as solar panels, hydropower, anaerobic digestion and biomass.
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