- December 3, 2020
- Posted by: Bastion team
- Category: Markets
(RTTNews) – Nestle SA (NSRGY.PK, NSTR.L) Thursday announced measures to halve its emissions by 2030 and achieve net zero by 2050. The company expects to invest a total of 3.2 billion Swiss francs over the next five years for the initiatives.
The company plans to complete its transition to 100 percent renewable electricity by 2025. Additionally, Nestlé is continuously increasing the number of ‘carbon neutral’ brands.
Under its reforestation program, Nestle would plant 20 million trees every year for the next 10 years in the areas where it sources ingredients. The company’s primary supply chains of key commodities, like palm oil and soy, will be deforestation-free by 2022.
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. The company is switching its global fleet of vehicles to lower emission options and will reduce and offset business travel by 2022.
Magdi Batato, Executive Vice President and Head of Operations, said, “With nearly two-thirds of our emissions coming from agriculture, it is clear that regenerative agriculture and reforestation are the focal points of our path to net zero. These efforts will reduce emissions and improve biodive”
Bastion Balance Seoul, Korea.