Mars aims to cut emissions 50% by 2030 across full value chain
Mars has published an open-source action plan – its Net Zero Roadmap – to accelerate action towards achieving net zero emissions, including a new target to cut carbon in half by 2030 across its full value chain
27 September 2023
Mars, Incorporated has released The Mars Net Zero Roadmap, a decisive action plan for achieving net zero greenhouse gas (GHG) emissions across its full value chain by 2050.
The plan includes a new target reviewed by the Science Based Targets Initiative to cut emissions by 50% by 2030, from a 2015 baseline, with a pathway to net zero by 2050.
The company peaked emissions in 2018, and has reduced GHGs in absolute terms by 8% or 2.6 million metric tons against a 2015 baseline, while growing the business 60% during that time.*
As part of the action plan, Mars says it will invest over $1 billion over the next three years and continue to commit financial resources as needed until Net Zero is achieved.
From the farms where food is grown for people and pets to the veterinary clinics where our pets are cared for, Mars states the company is taking immediate action to reduce GHGs emissions across its businesses to help build a better, more sustainable future for all.
The roadmap comes after recent findings by the UN-backed Intergovernmental Panel on Climate Change (IPCC) that it is “now or never” to take drastic action on climate change to avoid “disaster.”
It comes as a major new Ipsos survey, commissioned by Mars, found thatdespite current difficult economic circumstances, on average 69% of adults across the world’s seven largest economies think businesses should focus the same amount (32%) or more (37%) on tackling climate change rather than economic challenges. The research involved 14,468 people in the USA, UK, China, Japan, Germany, France, and India.
It also found that nearly half of the world’s seven largest economies place “a great deal” of responsibility on multinational businesses and governments to make changes to address climate change.
“2050 can seem to be in the distant future, but the progress we make in the next seven years is critical,” said Poul Weihrauch, Mars CEO. “My generation of CEOs has the ability and responsibility to deliver actual emission reductions and put business on a clear path to Net Zero by 2050. That’s why Mars is committed to delivering a 50% reduction in GHG by 2030. We cannot wait for the economy to improve; we must push forward with investments that protect our business today and in the future.
“As I have said before, profit and purpose are not enemies,” Weihrauch added. “Investment in climate is not a trade-off between planet and productivity, or between environment and employment. Consumers and our Associates clearly want both – and so do we. Investing in emissions reductions is sound business policy, it is achievable, affordable, and it is absolutely necessary.”
AT A GLANCE: To achieve net zero, Mars will accelerate its focus on:
- Transitioning to 100% renewable energy – by changing how it powers its factories, offices and veterinary hospitals, addressing energy used by farmers, how it sources ingredients, and even the energy used by customers (retailers) and by consumers and pet owners at home.
- Redesigning its supply chains to stop deforestation –by enhancing transparency and traceability of key ingredients such as cocoa, soy, and beef.
- Scaling up initiatives in climate smart agriculture – by working with farmers on regenerative agriculture, optimizing sourcing, and switching to renewables.
- Optimizing recipes –developing new lower GHG-footprint ingredients for snacks and human-food dishes, as well as alternative proteins for pet food.
- Improving and optimizing logistics– redesigning networks, the type of transport Mars relies on and the energy sources used, e.g., electrification of vehicles or potential green hydrogen.
- Embedding climate action in the business– embedding climate reductions into its governance and business planning, including it as a shareholder objective, in variable remuneration plans of senior executives, in investment planning processes, in its merger and acquisition strategy, etc.
To learn more about Mars’ Net Zero strategy and roadmap, download the document at www.mars.com/netzero2050.
(*Source: Recent acquisitions are included in total emissions calculations in restated baseline calculations, in line with the GHG Protocol.)