Companies

Nestle commits big investment to fight climate change

Our Bureau New Delhi | Updated on December 03, 2020 Published on December 03, 2020

Suresh Narayanan, CMD, Nestle India

The company aims to halve its emissions by 2030

Swiss packaged food company Nestle on Thursday said it is committing to invest 3.2 billion Swiss francs over the next five years to accelerate its efforts to achieve its goal to halve its emissions by 2030 and net-zero emissions by 2050.

The company said these investments would be financed primarily through operational and structural efficiencies to keep this initiative “earnings neutral”.

The packaged food company said part of these investments will also be put in, to “spark regenerative agriculture" across the company's supply chain.

Mark Schneider, Nestlé CEO said, "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.”

Waste-free future

Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “Climate change is one of the biggest challenges currently facing mankind. Addressing this will require a multi-stakeholder approach to collaborate and monitor progress, laying the foundation for a better world.”

“ At Nestlé India, we have been accelerating our actions towards reducing greenhouse gas emissions across our manufacturing locations and transport of goods. Our ambition is to achieve 100 per cent recyclable or reusable packaging by 2025. We are working towards shaping a waste-free future and driving new behaviour,” he added.

The packaged food company added that it plans to operate 800 sites in 187 countries with 100 per cent renewable electricity in the next five years and scale up its reforestation programme. “Nestlé expects to source over 14 million tonnes of its ingredients through regenerative agriculture by 2030, boosting demand for such goods," the company added.

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Published on December 03, 2020
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