Video: Nestlé invests big to cut carbon emissions

Nestlé said it plans to invest CHF 3.2 billion ($3.58 billion) over the next five years, giving details about its path to net zero emissions by 2050.

Editor’s note:
The following is a transcript of the accompanying video. ©2020 Thomson Reuters.

It produced 92 million tonnes of greenhouse gases in 2018. But Nestlé is taking action. The world's biggest food company said on Thursday [3 December] it plans to invest over $3.5 billion over the next five years to reduce its climate impact, with an aim to get to net zero emissions by 2050.

Nestlé said it will work with farmers and suppliers to promote regenerative agriculture — like restoring soil health. The company plans to source more than 14 million tonnes of its ingredients from farmers using these techniques. It also plans to switch to renewable electricity for all its power by 2025.

The maker of KitKat chocolate bars and Nescafé coffee said it would finance these investments primarily through operational and structural efficiencies. Nestlé said it also plans to scale up its reforestation programme. It aims to plant 20 million trees every year for the next decade in the areas where it sources ingredients, as well as offsetting business travel by 2022. Continuing its push into plant-based products, the company said it wanted to raise the number of “carbon neutral” brands it owns.