Candy giant Mars investing US$1B to tackle emissions across supply chain

Candy giant Mars investing US$1B to tackle emissions across supply chain

"This is a world issue and it requires all actors to work together", Business Insider quoted Parkin as saying.

The company has previously taken several steps in its efforts to become more sustainable, and wind farms in Texas and Scotland already generate enough to power USA and U.K. Mars operations.

The $1 billion include investments in renewable energy (particularly in adding more wind farms in countries like Russia, China, Australia, and India), the food-supply chain (its pet-food brands Pedigree and Whiskas aren't doing a stellar job sourcing sustainable fish right now), and farming (it's set up groups like CocoaAction, an industry coalition that aims to make cocoa farming more environmentally sound).

"The only way that will happen is if we do things differently to ensure that the planet is healthy and all people in our supply chain are thriving".

The plan, Mars said, would focus on a range of goals.

WRI recommended that Mars covered its entire value chain with the new carbon target, including emissions from land use-change. Mr. Reid said business needs to lead "transformational change" in order to tackle the most urgent threats facing the world. This continues on its current efforts around food safety and security; product and ingredient renovation; and responsible marketing.

Mars to invest around $1 billion in sustainability plan
The World's Largest Chocolate Maker Is Committing $1 Billion to Fight Climate Change

Mr. Reid said Mars' "Sustainable in a Generation Plan" is not just about doing better, but doing what is necessary. We're doing this because it's the right thing to do but also because it's good business.

Mars, Inc., which manufactures M&Ms, Skittles and other popular sweets, told Business Insider that the company's goal is to reduce its carbon footprint by 60 percent by the year 2050.

Mars will reveal plans to engage consumers through its M&M's brand at the U.N. General Assembly later this month. The new campaign leverages Mars' tremendous reach with consumers to champion the power of renewable energy and highlight the need for action in addressing climate change.

The company already purchases 100% renewable electricity to power all 12 of its United Kingdom factories and its USA facilities. "Mars was one of the first members of RE100 and is at the forefront of an unstoppable market force to transition to 100% renewable energy".

Although Mars acknowledges that some governments and other corporations are taking steps towards reducing climate change the company's chief sustainability officer Barry Parkin doesn't think society is getting to the end goal fast enough. The company already has launched the Livelihoods Fund for Family Farming to foster sustainability and poverty reduction in extended supply chains.