Press Release: Nestle: Focusing on regenerative agriculture and moving to renewable electricity, Nestlé redoubles efforts to combat climate change

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Vevey, December 3, 2020

Focusing on regenerative agriculture and moving to renewable electricity,

Nestlé redoubles efforts to combat climate change

As a signatory of the UN 'Business Ambition for 1.5degC' pledge,

Nestlé is one of the first companies to share its detailed,

time-bound plan (pdf, 10Mb)

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and to do so ahead of schedule. The company is taking measures to halve

its emissions by 2030 and achieve net zero by 2050 -- even as the

company grows.

Actions focus on supporting farmers and suppliers to advance

regenerative agriculture, planting hundreds of millions of trees within

the next 10 years and completing the company's transition to 100 percent

renewable electricity by 2025. Additionally, Nestlé is continuously

increasing the number of 'carbon neutral' brands.

Nestlé Chairman Paul Bulcke said, "The Board recognizes the

strategic importance of taking decisive measures to address climate

change. It supports accelerating and scaling up our work to ensure the

long-term success of the company and to contribute to a sustainable

future for generations to come."

This roadmap is the result of a complete review of Nestlé's

businesses and operations to understand the depth of the challenge and

determine the actions needed to address it. The company emitted 92

million tonnes of greenhouse gas emissions in 2018, which will serve as

the baseline for measuring progress.

"Tackling climate change can't wait and neither can we. It is imperative

to the long-term success of our business," said Mark Schneider,

Nestlé CEO. "We have a unique opportunity to address climate change,

as we operate in nearly every country in the world and have the size,

scale and reach to make a difference. We will work together with farmers,

industry partners, governments, non-governmental organizations and our

consumers to reduce our environmental footprint."

Nestlé's work to get to net zero spans three main areas:

-- The company is already working with over 500 000 farmers and 150 000

suppliers to support them in implementing regenerative agriculture

practices. Such practices improve soil health and maintain and restore

diverse ecosystems. In return, Nestlé is offering to reward farmers

by purchasing their goods at a premium, buying bigger quantities and

co-investing in necessary capital expenditures. Nestlé expects to

source over 14 million tons of its ingredients through regenerative

agriculture by 2030, boosting demand for such goods. Nestlé is also

scaling up its reforestation program to plant 20 million trees every year

for the next 10 years in the areas where it sources ingredients. More

trees mean more shade for crops, more carbon removed from the atmosphere,

higher yields and improved biodiversity and soil health. The company's

primary supply chains of key commodities, like palm oil and soy, will be

deforestation-free by 2022. Through efforts like these, Nestlé is

building longer term partnerships and providing farming communities with

greater certainty and higher incomes.

-- In its operations, Nestlé expects to complete the transition of its

800 sites in the 187 countries where it operates to 100% renewable

electricity within the next five years. The company is switching its

global fleet of vehicles to lower emission options and will reduce and

offset business travel by 2022. It is also implementing water protection

and regeneration measures and tackling food waste in its operations.

-- Within its product portfolio, Nestlé is continuously expanding its

offering of plant-based food and beverages and is reformulating products

to make them more environmentally friendly. It is increasing the number

of 'carbon neutral' brands it offers to give consumers the opportunity to

contribute to the fight against climate change. Garden Gourmet

plant-based food as well as Garden of Life supplements will achieve

carbon neutrality by 2022; Sweet Earth plant-based food, among other

brands, will do the same by 2025. These come on top of Nespresso,

S.Pellegrino, Perrier and Acqua Panna's commitment to carbon neutrality

by 2022, with the rest of the Nestlé Waters category achieving the

same by 2025.

Magdi Batato, Executive Vice President and Head of Operations, said,

"With nearly two-thirds of our emissions coming from agriculture, it is

clear that regenerative agriculture and reforestation are the focal

points of our path to net zero. These efforts will reduce emissions and

improve biodiversity at scale. We will also continue to eliminate

emissions from our operations and make improvements in our product

portfolio. We have our work cut out for us and we are committed to

delivering."

The company expects to invest a total of CHF 3.2 billion over the next

five years to accelerate our work, including CHF 1.2 billion to spark

regenerative agriculture across the company's supply chain. These

investments will be financed primarily through operational and

structural efficiencies to keep this initiative earnings neutral.

Nestlé has had its emissions reduction targets approved by the

Science Based Targets initiative (SBTi)

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, as consistent with levels required to meet the goals of the Paris

Agreement. SBTi is a collaboration of non-profit organizations that is

considered the international gold standard on assessing net zero

commitments. Nestlé will provide annual updates to provide

transparency on its progress.

Contacts:

Media:

Christoph Meier Tel.: +41 21 924 2200

mediarelations@nestle.com

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Investors:

Luca Borlini Tel.: +41 21 924 3509

ir@nestle.com

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(END) Dow Jones Newswires

December 03, 2020 01:15 ET (06:15 GMT)