Chocolate giant, Mars, recently launched its ‘Sustainability in a Generation’ plan, with the aim to reduce the carbon footprint of its business and supply chain by more than 60% by 2050.
According to Barry Parkin, Mars’ chief sustainability officer, global concerns on climate change engendered the need for the organization to contribute its quota in achieving a more sustainable world and business clime.
The organization is committing $1 billion over the next few years fighting climate change and by so doing, seeks to encourage all stakeholders to join in to fast-track sustainability.
Recognizing that the business is reliant on agriculture and other economic and environmental factors such as global warming, Parkin disclosed that the Mars’ $1 billion sustainability drive will include investments in the following areas:
- Renewable energy: it plans to have wind-powered operations in 11 countries around the world, including Russia, China, Australia, and India, by next year.
- Food sourcing: The company, which also makes pet food under brands including Whiskas and Pedigree, will invest in sustainable sourcing for ingredients like fish.
- Cross-industry action groups: Mars has set up groups like CocoaAction, an industry coalition aimed at making cocoa growing more sustainable, and Livelihoods Fund for Family Farming, which invests in smallholder farming across the world.
- Farmers: A huge amount of it will go upstream in working with farmers and helping farmers transform the way they grow crops to be both more environmentally sound, but also in ways that dramatically increase the income of farmers.
The huge investment commitment comes ahead of a UN General Assembly and Climate Week in New York later this month.