Nestle to invest $3.58bn to cut CO2 emissions

Nestle announced on Thursday it plans to invest $3.58bn over the next five years to achieve net zero emissions by 2050.

The company said it would work with farmers and suppliers to promote regenerative agriculture, get involved in tree replacement and switch to renewable energy by 2025.

Nestle produced 92m tonnes of greenhouse gases in 2018.

According to Reuters, the Swiss food giant said on Thursday it would finance these green investments primarily through operational and structural efficiencies to keep this initiative earnings neutral.

“We recognize the strategic importance of taking decisive action to tackle climate change. This means accelerating and improving our work to ensure the success of our Company and contribute to a sustainable future for future generations,” says Paul Bulcke, President of Nestlé.

“Addressing climate change cannot wait, and neither can we. It is essential for the continuity of our business in the long term,” emphasizes Mark Schneider, CEO of Nestlé.

“We have a unique opportunity to face climate change, since we operate in practically every country in the world, so the size of our company will allow us to make a difference. We will work with farmers, other industry partners, governments, non-governmental organizations and also with our consumers to reduce our environmental footprint."