Nestle to invest $3.6 billion in fight against climate change
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Salaam Gateway puts global news in context of the Islamic economy: Nestle is a major supplier of halal-certified F&B globally. The Switzerland-based company itself has not given a definitive number to the sales value of its halal products but it says that more than 160 of its factories in more than 40 countries produce halal products. |
Published 03 Dec,2020 via Bloomberg Green - Nestle SA, the world’s largest food company, said it will invest 3.2 billion Swiss francs ($3.6 billion) over the next five years in an effort to fight climate change.
The company will plant 200 million trees over the next decade and help farmers and suppliers shift toward regenerative agriculture, the KitKat maker said Thursday. That practice improves soil health and protects ecosystems.
Earlier this year, Nestle said it plans to spend as much as 2 billion francs in an attempt to push the plastics industry to address the dearth of recycled packaging that’s safe to use for food. In February, Danone announced a 2 billion-euro ($2.4 billion) sustainability investment over the next three years.
Nestle also said it plans to get 100% of its electricity from renewable sources at its 800 factories within the next five years, and will expand its offering of plant-based food and beverages.
Nestle last year set a target to reach zero net greenhouse-gas emissions by 2050 as Chief Executive Officer Mark Schneider said climate change is one of the greatest risks to the company’s future business. Nestle said it aims to make products including Nespresso, San Pellegrino, Perrier and Garden Gourmet carbon-neutral by 2022.
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