Mars pledges to spend $1 billion on its sustainability in a generation plan

Mars has recently announced its ambition to accelerate action to tackle climate change, with the launch of its new #PledgeForPlanet initiative. As part of the initiative, Mars is committing to further reduce greenhouse gas (GHG) emissions from its direct operations in line with the most ambitious aim of the Paris Agreement – to limit global temperature rise to 1.5 degrees Celsius.

The commitment is said to be the part of the ongoing Mars push – first announced a decade ago – to achieve 100% renewable energy in its operations by 2040. According to the press statement, at present, Mars sources more than half of its electricity from renewable sources – 100% in countries including the US, UK, Mexico and soon, Australia. Mars sees a real role for business in disrupting the effects of climate change, and with #PledgeForPlanet, Mars recognizes that we must go farther and faster to help create a healthy planet on which we all can thrive.

To this end, the initiative will see Mars accelerate climate action not only within the business but also by mobilizing its associates, suppliers and citizens everywhere to pledge to protect the planet and address the causes of climate change, says in a press statement.

Mars is calling on all its suppliers to participate through programming such as setting science-based targets, signing on to The Climate Group’s RE100, and embracing a future with renewable energy at the center of plans for direct operations. Olam, a Mars supplier of cocoa and palm oil, has already signed on.

Grant F Reid, chief executive officer at Mars said, “Climate change is a real and tangible threat to society. For example, in our business, we already see it in the risk to livelihoods for smallholder farmers who provide most of our raw ingredients.”

“Risks to the resiliency and sustainability of our supply chain and the future of the farmers we work with is top of mind. But, as a family business that thinks in generations and aspires to make a positive difference in the world, our responsibilities and our ambitions go beyond risk mitigation. We are committed to doing our part for the good of the planet.”

The new initiative follows Mars’ investment of US$ 1billion (approximately Rs 7,000 crore) towards its sustainable in a generation plan to accelerate progress against a range of global threats by looking beyond its direct operations and into its extended supply chain. The Mars’ plan also includes a drive towards reducing total GHG emissions across its value chain 27% by 2025 and 67% by 2050.