• Latest
  • Trending
Nestlé to Spend $3.6bn in 5 Years on Climate Measures

Nestlé to Spend $3.6bn in 5 Years on Climate Measures

December 3, 2020
Okonjo-Iweala’s Confirmation as WTO DG Hits New Snag with Geneva Lockdown

Vaccine Nationalism, Export Restrictions Hampering Africa’s Vaccination Efforts, WTO Boss Says

April 13, 2021
‘I Miss My Brother’, George Floyd’s Younger Sibling Tells Court

‘I Miss My Brother’, George Floyd’s Younger Sibling Tells Court

April 13, 2021
Muslims Open Ramadan with Social Distanced Prayers, Vaccines

Muslims Open Ramadan with Social Distanced Prayers, Vaccines

April 13, 2021
Nigeria’s Southeast Governors Plan Legal Backing for ‘Regional Police’

Nigeria’s Southeast Governors Plan Legal Backing for ‘Regional Police’

April 13, 2021
Restructuring Alone Can’t Solve Nigeria’s Problems, Former President Jonathan Says

Voters, Not Court, Should Choose Leaders, Nigeria’s Ex-President Jonathan Says

April 13, 2021
Volcano Erupts in Southern Caribbean, Sparking Evacuation Frenzy

St Vincent Volcano Erupts Again, Spewing More Gas and Ash

April 13, 2021
Protests in Minneapolis after Police Chief Says Officer Who Shot Black Man Meant to Use Taser

Protests in Minneapolis after Police Chief Says Officer Who Shot Black Man Meant to Use Taser

April 13, 2021
The Sugar Strategies Of Dangote Sugar, BUA Group, And Flour Mills

The Sugar Strategies Of Dangote Sugar, BUA Group, And Flour Mills

April 13, 2021
Pension Assets Decline, Kano Pillars Sign MOU With A Private Firm

Pension Assets Decline, Kano Pillars Sign MOU With A Private Firm

April 13, 2021
ARISE XCHANGE

ARISE XCHANGE

April 12, 2021
Nigeria Announces Stricter Guidelines on Flights from UK, South Africa, Stops Short of Travel Ban

Nigeria Says ‘Criminal Elements’ Planning to Attack Airports

April 12, 2021
34 Migrants Dead After Boat Capsizes off Djibouti

34 Migrants Dead After Boat Capsizes off Djibouti

April 12, 2021
‘Twitter on the Continent’: Tech Giant Sets Up African HQ in Ghana

‘Twitter on the Continent’: Tech Giant Sets Up African HQ in Ghana

April 12, 2021
Nigerian Government Extends Deadline To Block SIMs Without Identification Number

‘I’ve Preached Against Evil For 15 years’: Nigeria’s Comms Minister Debunks Links to Boko Haram

April 12, 2021
Nigeria: Hours After Launch of Southeast  ‘Regional Police’, Gunmen Attack Ebonyi Community, Burn Houses

Nigeria: Hours After Launch of Southeast  ‘Regional Police’, Gunmen Attack Ebonyi Community, Burn Houses

April 12, 2021
Israel Ratifies Visa Exemption Agreement with UAE, the First with an Arab State

Israel Won’t Allow Iran Get Nuclear Weapons, Netanyahu Says as Iran Vows Revenge for Plant Outage

April 12, 2021
ARISE NEWSDAY

ARISE NEWSDAY

April 12, 2021
Myanmar Military to Bring Fresh Charges Against Overthrown Leader Aung San Suu Kyi

Again, Myanmar’s Aung San Suu Kyi Hit with New Criminal Charge

April 12, 2021
Dangote Group Director Addresses Cement Pricing and ‘Sugar War’ (FULL INTERVIEW)

Dangote Group Director Addresses Cement Pricing and ‘Sugar War’ (FULL INTERVIEW)

April 12, 2021
Obaseki In Controversy Over The Printing Of N60bn Comment – Trending with Ojy Okpe

Obaseki In Controversy Over The Printing Of N60bn Comment – Trending with Ojy Okpe

April 12, 2021

Global Business Report

April 12, 2021
Brazil’s Coronavirus Cases Pass Five Million, Deaths Nearing 150,000

Covid: India Overtakes Brazil as Second Worst Hit Country But Huge Crowds Gather for Festival

April 12, 2021
Reports That Dangote Selling Cement at a Higher Price in Nigeria ‘False and Incorrect’, Director Says

Reports That Dangote Selling Cement at a Higher Price in Nigeria ‘False and Incorrect’, Director Says

April 12, 2021
Thirty-six Christians Freed After Being Jailed For Their Faith in Eritrea

Thirty-six Christians Freed After Being Jailed For Their Faith in Eritrea

April 12, 2021

Morning Show

April 12, 2021
Planning for 400 million: Nigeria’s Opportunities and Challenges in 2050

Planning for 400 million: Nigeria’s Opportunities and Challenges in 2050

April 12, 2021
ARISE.TV HEADLINES 12-04-21

ARISE.TV HEADLINES 12-04-21

April 12, 2021
Matsuyama Makes History as First Japanese to Win Masters Title

Matsuyama Makes History as First Japanese to Win Masters Title

April 12, 2021
Iran Calls Atomic Site Blackout ‘Nuclear Terrorism’ as Suspicion Falls on Israel

Iran Calls Atomic Site Blackout ‘Nuclear Terrorism’ as Suspicion Falls on Israel

April 12, 2021
Lasso Wins Ecuador Presidency in Upset Over Socialist Rival

Lasso Wins Ecuador Presidency in Upset Over Socialist Rival

April 12, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Tuesday, April 13, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Business

Nestlé to Spend $3.6bn in 5 Years on Climate Measures

December 3, 2020
Reading Time: 5min
0 0
0
Nestlé to Spend $3.6bn in 5 Years on Climate Measures

A Nestle logo is pictured on a van outside the company headquarters in Vevey February 19, 2015. Nestle, the world's largest packaged foods maker, forecast sales to rise 5 percent this year, in line with its long-term goals, following a weaker year in 2014 that was hurt by deflation in Europe and slowing demand in Asia. REUTERS/Denis Balibouse (SWITZERLAND - Tags: BUSINESS FOOD LOGO) - RTR4Q6TG

Share on FacebookShare on Twitter

The world’s largest foodmaker Nestlé is to spend €3bn equivalent of about $3.6bn in the next five years on measures to cut its greenhouse gas emissions, in the biggest financial commitment to “net zero” initiatives by a consumer goods group.

The Swiss company on Thursday laid out plans to meet a goal set last year to eliminate all emissions from its operations and supply chain by 2050. These range from changing the way its agricultural suppliers operate to cutting business travel.

Mark Schneider, chief executive, told the Financial Times: “It is particularly challenging to make good on this goal because the vast majority of what we are talking about is not within our own four walls — the vast majority [of emissions] sit in our supply chain.

“To be effective we will need to influence the behaviours of the many thousand farmers and suppliers that work with us. We need to change the way agriculture is done and we need to shift consumer preferences towards plant-based food and beverages. It’s truly a long-term undertaking.”

Nestlé is one of a group of multinationals that have adopted targets in line with scientists’ recommendations to limit global warming to 1.5C above temperatures before industrialisation began, which requires dropping to “net zero” emissions by 2050.

A larger group of companies have adopted less stringent targets aiming to limit warming to 2C.

 The maker of Kit Kat and Nespresso said it would fund the measures by charging a premium for some sustainable goods and by achieving “operational and structural efficiencies”.

The group had revenues of SFr2.6bn ($2.9bn) in 2019. The spending comes on top of up to $2bn the group has pledged to spend to increase recycled plastic in its packaging.

Mr Schneider said the changes would be “earnings neutral” and would not affect margins.

“This is not a plan that comes straight out of investors’ pockets,” he said. It follows a commitment by rival Unilever this year to spend €1bn over 10 years on climate projects such as reforestation.

At Nestlé, key challenges include the cows, a big greenhouse gas emitter, on which it depends for dairy products used in baby formula and foods.

Meat, which also racks up high emissions, is key to its fast-growing pet food division. Mr Schneider said the company would not look to offload or shrink those businesses.

“We don’t want to avoid dairy, meat products and meat byproducts. We want to make them in a more carbon efficient way. If we . . . walk away from [those divisions] and the emissions continue unabated, the world is not better off.”

Nestlé aims to source half of its ingredients, or 14m tonnes, through regenerative agriculture — methods to improve soil health and restore diverse ecosystems — by 2030, using SFr1.2bn of the funding.

It will push the 500,000 farms that supply its ingredients to adopt measures that aid carbon sequestration in the soil, such as avoiding tillage and using organic fertiliser.

In exchange it will pay a premium for their products, Nestlé said.

It is trialling alternative cow feed ingredients such as algae and seaweed in an attempt to cut down on methane that the animals burp into the atmosphere, said Magdi Batato, head of operations.

Nestlé intends to switch its operations across 800 sites to renewable energy by 2025 and plant 20m trees a year using so-called “insetting” programmes, which take place within or close to the company’s own supply chain.

 The group aims to halve its 2018 emissions, which amounted to 92m tonnes of greenhouse gases, by 2030.

Nestlé has been ahead of many peers in addressing climate change; disclosures group CDP ranked it second only to Danone among food and drink makers last year in preparing for the climate transition.

But it has lagged in some areas. Data from the Ellen MacArthur Foundation last month showed Nestlé’s use of recycled plastic had remained static at 2 per cent despite a target to cut its use of virgin plastics by a third by 2025.

Financial times

Tags: Nestlé
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist