“Profit and purpose are not enemies”: Mars pledges US$1B investment in net zero emissions plans

(All image credits: Mars).

18 Sep 2023 --- Mars has released its “Net Zero Roadmap,” setting targets to cut carbon in half – roughly 15 million metric tons – by 2030 across its value chain. Over three years, the company will invest US$1 billion to drive climate action.

Mars commissioned a “major” Ipsos survey to further guide its commitment to climate action. Despite challenging economic circumstances, the survey reveals that an average of 69% of adults across the world’s seven largest economies believe businesses should prioritize tackling climate change as much as or even more than economic challenges.

The study, which involved 14,468 respondents in the US, UK, China, Japan, Germany, France and India, also indicates that nearly half of the surveyed individuals expect multinational businesses and governments to take substantial steps to address climate change.

Poul Weihrauch, CEO of Mars, underscores the significance of the company’s commitment, stating, “2050 can seem to be in the distant future, but the progress we make in the next seven years is critical.” He emphasizes that Mars and other companies are responsible for delivering concrete emissions reductions and putting the business on a definitive path to net zero by 2050.

Weihrauch also stresses that climate investments are “not a trade-off but a sound business policy,” affirming that they are “achievable, affordable and essential.”

“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. Investment in climate is not a trade-off between the planet and productivity or between the environment and employment. Consumers and our Associates want both – and so do we,” he asserts.

“Companies must be judged – Mars included – on the actual results we deliver against our climate plans, not just the scale of the commitment we make – just as we are judged by our boards and investors on the delivery of financial results, not the quality of our financial forecasts.”

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To achieve Net Zero emissions by 2050, Mars has outlined several critical focus areas, including transitioning to 100% renewable energy, halting deforestation within its supply chains, promoting climate-smart agriculture, optimizing product recipes for lower GHG footprints, improving logistics and integrating climate action into its business practices and decision-making processes.

In May, Mars trialed a recyclable paper packaging for its candy bars in a “UK-first” pilot to evaluate the viability of alternative packaging materials, following the announcement in November 2022 that paper-based wrappers for its Mars Bars, Snickers and Milky Way products to be launched in April 2023.

The Mars Net Zero Roadmap details how net zero is achievable for Mars and serves as an open-source strategy companies across sectors can use to implement climate action.

This means including all emissions, prioritizing performance over promises, advancing progress with real milestones, making decisions today that reverberate tomorrow and covering what can’t be cut with high-quality carbon credits.

Barry Parkin, Mars’ chief sustainability and procurement officer, emphasizes that Mars’ approach is grounded in science and that the roadmap responds to clear scientific guidance. It outlines fundamental principles, such as avoiding exclusions or exceptions and prioritizing performance over promises.

“In preparing our roadmap, we’ve learned that this is both entirely possible to deliver with existing science and technology and entirely affordable. We can both grow our business and cut emissions. I hope our roadmap clearly and powerfully demonstrates what Mars is doing and, critically, what we believe needs to happen at scale to help tackle the worst impacts of climate change,” says Parkin.

By Radhika Sikaria

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