News
Mars Inc. slashes carbon footprint by 8% whilst growing annual sales
Since 2015, GHG emissions in Mars Incorporated’s value chain have been reduced by 5.7m metric tons — the equivalent GHG emissions generated by more than 1.3m gasoline-powered automobiles in a year.
As outlined it its sustainability report released today (24 July 2024), this 8% reduction in its carbon use is Mars’ largest single year reduction in GHG emissions against its 2015 baseline.
At the same time, the business, which owns the likes of Snickers, M&Ms, and Whiskas, has managed to grow by more 60%, reaching over $50bn in annual sales.
The absolute GHG reductions of 5.7m metric tons cover the entire Mars Scope 1, 2 and 3 value chain, and the company says it remains on track to deliver a 50% GHG reduction for its value chain by the end of 2030.
Since publishing its Mars Net Zero Roadmap in 2023, the company has committed to investing more than $1bn over three years – and said it will continue to inject financial resources as needed, until it achieves net zero. Its net zero target is 2050, in line with the UK's overall pledge as part of the Paris Agreement.
Almost 60% of Mars GHG footprint comes from agriculture, so the company has been invested further into scaling climate-smart practices. These initiatives aim to improve soil health and farm resilience, while providing financial support and training for farmers to accelerate the adoption of regenerative agriculture practices.
Among one of the initiatives already in play is its recently announced sustainable dairy plan, Moov’ing Dairy Forward, that commits to a $47m investment across three years, into sustainable dairy sourcing.
Commenting on the company’s progress so far, Barry Parkin, Mars chief sustainability and procurement officer, said it was pleased with the strides Mars has taken so far, but more still needs to be done.
“Our latest carbon reductions show we are on track to deliver a 50% reduction by 2030. While we’re proud of this progress, we know we have more work to do, and we look forward to continuing to scale our progress. It is critically important to strengthen our programs with farmers to help the transition to climate smart and regenerative agriculture.”
Poul Weihrauch, Mars CEO, echoed his sentiments: “Last year, we published our Net Zero Roadmap promising to accelerate our carbon reductions, and with this year’s results, we are delivering on our business strategy to continue to grow while reducing our carbon emissions. We still have a long way to go, but we will continue to follow the science and show how a responsible business can both do well and do good.”
In other news, staffing issues have been cited by more than 80% of in a Rabobank survey as key driver for robotic investments.
