Mars pledges US$1B investment in net zero emissions plans
Mars has released its Net Zero Roadmap, setting targets to cut carbon in half by 2030 across its value chain. Over three years, the company will invest US$1B to drive climate action.
Mars commissioned a survey to help guide their commitment to climate action. This has revealed that an average of 69% of adults across the world’s seven largest economies believe businesses should prioritise tackling climate change.
The study, involving 14,468 individuals expect multinational businesses to take substantial steps to address climate change. Poul Weihrauch, CEO of Mars has stated “2050 can seem to be in the distant future, but the progress we make in the next seven years is critical.” Mars aim to be net zero by 2050.
“Companies must be judged – Mars included – on the actual results we deliver against our climate plans, not just the scale of commitment we make – just as we are judged by our boards and investors on the delivery of financial results, not the quality of our financial forecasts.”
To achieve net zero by 2050, Mars have outlined several critical areas, including transitioning to 100% renewable energy, halting deforestation within supply chains, promoting climate-smart agriculture, optimising product recipes for lower GHG footprints, improving logistics and integrating climate action into its business practices.
Barry Parkin, Mars’ chief sustainability and procurement officer has said, “In preparing our roadmap, we’ve learned that this is both entirely possible to deliver with existing science and technology and entirely affordable. We can both grow our business and cut emissions.”