Skip to main content

Advertisement

Advertisement

Business

Nestle to invest US$3.58 billion to cut carbon emissions

Nestle to invest US$3.58 billion to cut carbon emissions

The company's logo is seen at a Nestle plant in Konolfingen, Switzerland on Sep 28, 2020. (Photo: Reuters/Arnd Wiegmann)

ZURICH: Nestle said on Thursday (Dec 3) it plans to invest 3.2 billion Swiss francs (US$3.58 billion) over the next five years to reduce its climate impact and help it get to net zero emissions by 2050.

The world's biggest food company said it would work with farmers and suppliers to promote regenerative agriculture, plant hundreds of millions of trees, and switch to renewable electricity for all its power by 2025.

The maker of KitKat chocolate bars and Nescafe coffee, which produced 92 million tonnes of greenhouse gases in 2018, said it would finance these investments primarily through operational and structural efficiencies to keep this initiative earnings neutral.



Source: Reuters

Advertisement

Also worth reading

Advertisement