Nestlé among companies calling for COVID-19 recovery with net-zero carbon emissions
155 signatories have $2.4 trillion combined market capitalization.
Nestlé has joined more than 150 major multinationals in urging governments around the world to align their COVID-19 economic aid and recovery efforts with reducing carbon emissions.
By signing this statement, supportive companies reaffirm their science-based commitments to achieving net-zero carbon emissions. They also call for policies that support efforts to hold global temperature rise to within 1.5°C above pre-industrial levels, in line with reaching net-zero emissions well before 2050.
The statement comes as governments around the world work on packages to help recover from the impact of the coronavirus pandemic and as they prepare to submit enhanced national climate plans under the Paris agreement.
Signatories will continue to:
- Demonstrate that the best decisions and actions are grounded in science
- Invest in recovery and resilience for systemic socio-economic transformations
- Work with governments and scale up the movement
"Let’s work together to create a more sustainable and resilient world,” said Nestlé CEO Mark Schneider. “We will play our part and are committed to net-zero greenhouse gas emissions by 2050."
Nestlé is accelerating its actions to tackle climate change and has committed to net-zero emissions by 2050. Plans to achieve this goal include restoring farmland and forests, increasing the use of renewable energy and reformulating products that have a better environmental footprint and contribute to a balanced diet. Nestlé will publish a roadmap, including interim targets consistent with the 1.5°C path.
The United Nations Global Compact said the 155 signatories span 34 sectors and have a combined market capitalization of more than $2.4 trillion. They represent 5 million employees.
“Saving lives and livelihoods, and building a prosperous, inclusive and sustainable future, are at the heart of our efforts to recover from COVID-19,” said UN Secretary-General António Guterres. “We can beat the virus, address climate change and create new jobs through actions that move us from the grey to green economy. Many companies are showing us that it is indeed possible and profitable to adopt sustainable, emission-reducing plans even during difficult times like this. I warmly welcome the ambitious, science-based actions we are seeing from leading companies who are demonstrating to policy-makers that green growth remains the best growth strategy.”