Economy

Mars reveals $1bn sustainability plan to tackle global issues

Mars reveals $1bn sustainability plan to tackle global issues”

Reid's comments came alongside the publication of Mars' latest efforts to make its business more sustainable.

Mars is now rolling out a $1bn (£771m) investment to help cut greenhouse gas emissions across its value chain by 67% by 2050, run a poverty reduction and sustainability programme for farmers and suppliers, and ramp up food safety and security efforts.

Thriving People - with an ambition to meaningfully improve the working lives of one million people in its value chain to enable them to thrive - focusing on increasing income, respecting human rights and unlocking opportunities for women.

Global confectionary producer Mars has today unveiled a near-$1bn investment into a new sustainability action plan that uses science-based targets to "drastically expand" on previous carbon goals, as the company's chief executive Grant Reid called on the sector to fix "broken" global supply chains. Mr. Reid said business needs to lead "transformational change" in order to tackle the most urgent threats facing the world.

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 U.S. and U.K. Mars operations.

"We're a food business, which is based on agriculture so we care a lot about the farmers who supply us around the world", said Barry Parkin, Mars' chief sustainability officer, when speaking to Business Insider. 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.

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

Reid added: "This plan is about not just doing better, but doing what's necessary".

"We've been increasingly anxious about overall progress on the big issues, whether that's climate change or solving poverty", Mars' chief sustainability officer, Barry Parkin told Business Insider. "We care about this both on a societal level but also on a business level", Parkin said.

During the UN General Assembly, Mars will reveal plans to engage consumers on this topic through one of the world's biggest brands, M&M's. The campaign is expected to focus on the power of renewable energy and highlight the need for action in addressing climate change, he said.

The company already purchases 100% renewable electricity to power all 12 of its United Kingdom factories and its USA facilities.

Mars, which had almost $35 billion in sales a year ago, was one of the companies that signed a letter to President Trump, urging him not to withdraw from the Paris Climate Agreement in June.



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