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Mars announces $1bn roadmap to cut emissions by 50% by 2030
FoodBev Media

FoodBev Media

14 September 2023

Mars announces $1bn roadmap to cut emissions by 50% by 2030

Mars has released 'The Mars Net Zero Roadmap', an action plan for achieving net zero GHG emissions across its full value chain by 2050. The roadmap includes a new target to cut emissions by 50% by 2030, from a 2015 baseline, with a pathway to net zero by 2050. The company – which peaked emissions in 2018 – has reduced GHGs by 8% (or 2.6 million metric tons) against its 2015 baseline, while growing the business by 60% during that time. As part of the action plan, Mars says it will invest over $1 billion in the next three years, while continuing to commit financial resources as needed until it achieves net zero. It comes as a new Ipsos survey, commissioned by Mars, found that despite current difficult economic circumstances, on average, 69% of adults across the world's seven largest economies think businesses should focus the same amount or more on tackling climate change rather than economic challenges. The research involved 14,468 people in the USA, UK, China, Japan, Germany, France and India. The survey also reported that nearly half of people in the world's seven largest economies place "a great deal" of responsibility on multinational businesses and governments to make changes to address climate change. Poul Weihrauch, Mars CEO said: "We cannot wait for the economy to improve; we must push forward with investments that protect our business today and in the future...Investment in climate is not a trade-off between planet and productivity, or between environment and employment. Consumers and our associates clearly want both – and so do we. Investing in emissions reductions is sound business policy, it is achievable, affordable, and it is absolutely necessary." To achieve net zero, Mars plans to accelerate its focus on transitioning to 100% renewable energy, redesigning its supply chains to stop deforestation, scaling up initiatives in climate-smart agriculture, optimising recipes, improving and optimising logistics and embedding climate action in the business. Weihrauch added that companies should be judged on the actual results they deliver against their climate plans, not just the scale of the commitment they make, “just as we are judged by our boards and investors on the delivery of financial results, not the quality of our financial forecasts”.

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