Commercial, GHG Emissions - October 6, 2021
Mars Sets Full Value Chain Net Zero Ambition for 2050
Mars, Incorporated announced Oct. 5 its new ambition to reach net-zero emissions across its value chain by 2050.
This builds on a previous commitment from the food company to cut emissions in its value chain by 67% by 2050. Mars will continue its interim ambition to reduce all emissions by 27% before 2025.
To reach these targets, Mars plans to transition to 100% renewable energy use and increase the use of regenerative agricultural practices. Its operations in 11 countries already use 100% renewable energy, accounting for more than 54% of its global electricity use.
The company will also focus on its Scope 3 emissions by setting 5-year milestones to track its progress and plans to eliminate deforestation from its supply chain.
To further demonstrate its commitment to climate action, Mars plans to link its executive pay to emissions reductions and is asking more than 20,000 suppliers to set their own climate targets.
Mars has cut emissions in its value chain by 7.3% and its direct operations by 31% since 2015 and is on track to reach its goal of reducing direct operational emissions 42% by 2025.
“The scale of global intervention must be bolder and faster. Climate change is already impacting the planet and people’s lives,” CEO Grant Reid said in a statement. “To mitigate this real and tangible threat, the science tells us net zero targets must be broad in their reach, capturing emissions across the entire value chain and plans need to have material, interim targets. We can’t wait decades to see progress. However, all too often, this simply isn’t the case – and the gaps that exist in some net zero commitments risks undermining their credibility, and even more importantly, the climate action movement. We can’t allow that to happen.”
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