Monday 7 December 2020

Nestlé to invest £2.6bn for climate action plan in the next five years

Food giant Nestlé has unveiled plans to invest a total of CHF 3.2 billion (£2.6bn) in the next five years to improve its carbon footprint.

Actions focus on supporting farmers and suppliers to advance regenerative agriculture, planting hundreds of millions of trees within the next ten years and completing the company's transition to 100% renewable electricity by 2025.

The company said it will continue to support farmers with regenerative agriculture practices that aim to improve soil health and maintain and restore diverse ecosystems.

The firm, which has pledged to halve its emissions by 2030, said it emitted 92 million tonnes of greenhouse gas emissions in 2018.

Mark Schneider, Nestlé Chief Executive Officer, said: "Tackling climate change can't wait and neither can we. It is imperative to the long-term success of our business.

"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."