Dec 5, 2020
Switzerland-based company – Nestlé has set out a plan to halve carbon emissions by 2030 and to be net-zero by 2050. It will spend US$3.58bn on the project over the next five years. Its “global roadmap” to achieve net-zero greenhouse gas (GHG) emissions embraces the Paris Agreement to limit the rise in temperatures around the globe to 1.5°C.
Nestlé will accelerate initiatives focusing on supporting farmers and suppliers to advance regenerative agriculture, plant hundreds of millions of trees within the next ten years, complete its move to 100% renewable electricity globally by 2025 and increase its number of ‘carbon-neutral’ brands.
The food giant plans to finance these investments mainly through operational and structural efficiencies to keep the initiative “earnings neutral”.
In its operations, Nestlé expects to complete the transition of its 800 sites in the 187 countries where it operates to 100% renewable electricity within the next five years.
Nestle said the roadmap is the result of a complete review of its business and operations to “understand the depth and breadth of the challenge to achieve net-zero and to determine the actions needed to address it”.
Once upon it was responsible for 92 million tons of greenhouse gas emissions in 2018, which will serve as the baseline for measuring progress. As is to be expected, the majority of Nestlé’s emissions are so-called ‘Scope 3’ emissions.