Chocolate giant Mars commits $1bn to fight climate change
Mars, the world’s largest chocolate maker, has announced that it will invest about $1bn in its ‘Sustainability in a generation’ plan.
In the plan, Mars, Incorporation says it wants to slash greenhouse gas emissions across its value chain by 67% by 2050.
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In addition, the chocolate giant says it aims to "meaningfully improve the working lives" of one million people in its value chain by focusing on boosting income, unlocking opportunities for women and respecting human rights.
CEO Grant F. Reid said: “Mars has been in business for four generations and intends to be for the next four generations. The only way that will happen is if we do things differently to ensure that the planet is healthy and all people in our extended supply chains have the opportunity to thrive.
We must work together, because the engine of global business – its supply chain – is broken, and requires transformational, cross-industry collaboration to fix it.”
The Snickers, Twix, Milky Way and Skittles maker has also revealed plans to promote renewable energy through its M&M’s brand, featuring images it's red and yellow M&M cartoon characters, alongside windmills.
Reid said, whilst many businesses have been working on becoming more sustainable, the current level of progress is “nowhere near enough.”
Reid added that a transformational collaborative effort was needed because the engine of global business, that is, its supply chain, was broken.
Mars is the latest big business to try and boost its green credentials.
“This plan is about not just doing better, but doing what’s necessary. We’re doing this because it’s the right thing to do but also because it’s good business,” said Reid.
"We expect to have a competitive advantage from a more resource efficient supply chain, and from ensuring that everyone in our supply chain is doing well," he added.