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Mars must halve its emissions along the entire value chain by 2030

Mars must halve its emissions along the entire value chain by 2030

Mars Incorporated is now launching an action plan – the Mars Net Zero Roadmap – to achieve net zero greenhouse gas (GHG) emissions along the entire value chain by 2050. The Mars Roadmap includes a new target reviewed by the Science Based Targets Initiative – to reduce emissions by 50% To 2030, compared to 2015, and reaching net zero emissions by 2050.

The company’s emissions peaked in 2018, and since then it has reduced greenhouse gas emissions by 8%, or 2.6 million tons, compared to 2015, while increasing operations by 60% over the same period.* As part of the business plan, Mars will invest more than $1 billion in over the next three years and continue to allocate financial resources until net zero is achieved. From farms where food for both people and pets is grown to veterinary clinics where pets are cared for, Mars is taking immediate action to reduce greenhouse gas emissions across its operations to help build a better, more sustainable future. Net zero is a state in which greenhouse gases are significantly reduced. At the same time, it is ensured that other emissions that cannot be eliminated are offset.

The action plan was released in the wake of recent findings by the UN-backed Intergovernmental Panel on Climate Change (IPCC), which concluded that it is “now or never” radical action must be taken against climate change.

A new Ipsos poll, commissioned by Mars, shows that despite current difficult economic conditions, an average of 69% of adults in the world’s seven largest economies believe companies should focus as much (32%) or more (37%) are working to address this problem. Climate change rather than financial challenges. The survey included 14,468 people in the United States, the United Kingdom, China, Japan, Germany, France and India.

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The survey also shows that nearly half of the world’s seven largest economies place a “large share” of responsibility on multinational companies and governments to make changes to deal with climate change.

“2050 may seem like a distant future, but the progress we make over the next seven years is critical,” says Mars CEO Paul Wehroch. “My generation of CEOs has the capacity and responsibility to deliver real emissions reductions and put businesses on the right path to Net zero by 2050. That’s why Mars is committed to reducing greenhouse gas emissions by 50% by 2030. We can’t wait for the economy to improve; we need to continue moving forward with investments that protect our business, both today and in the future. And as I’ve said before Profit and purpose do not have to be mutually exclusive. Investing in climate does not mean choosing between the planet and productivity, or between the environment and employees. Both consumers and employees and those who work for us clearly want both, and we do. Investing in emissions reductions is a policy Sound business, it is possible, useful and absolutely necessary.

Paul Weyrauch continues: “Companies – including Mars – should be judged on the actual results achieved against the climate plan, not just on our commitment to the plan. In the same way we are judged by the board and shareholders on our financial results.” “And not on the quality of financial forecasts.”

With an emissions footprint as large as Finland’s, Mars aims to reduce its emissions by 50% by 2030, or about 15 million tons, based on an 8% reduction in greenhouse gases to date. The Mars Net Zero Roadmap details how to achieve net-zero emissions for Mars, and is a strategy that companies from across sectors can use to implement meaningful action immediately. This means including all emissions, prioritizing performance over promises, accelerating development through clear milestones and making decisions today that work for the future, as well as offsetting what cannot be reduced with carbon credits.

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To achieve net zero, Mars will increase its focus on:

• Transition to 100% renewable energy – by changing the way they run their factories, offices and veterinary clinics, review the energy used by farmers, purchase ingredients, and even retailers and consumers’ energy consumption.

• Review supply chains and deforestation by increasing transparency and traceability for cocoa, soybean and beef production.

• Expand initiatives in climate-smart agriculture by partnering with farmers on regenerative agriculture, optimized procurement, and shifting toward renewable energy sources.

• Improving recipes, developing new ingredients with a lower carbon footprint for snacks and foods, and developing alternative proteins for pet foods.

• Improving and optimizing logistics services, reviewing the means of transportation and energy sources used, for example the electrification of vehicles or the potential use of green hydrogen.

• Embedding climate measures into operations through climate reductions in governance and business planning, as well as as a shareholder objective, in variable compensation plans for senior management, in investment and planning processes, and in merger and acquisition strategies.

Those interested in learning more about the Mars Net Zero Strategy and Action Plan can download the document at www.mars.com/netzero2050.