By 2030, GHG emissions on Mars will be halved.
Furthermore, Mars declared that it will devote over $1 billion to the plan over the course of the following three years and that it will keep providing the required funding until net zero emissions are attained. Additionally, according to Mars, the plan is a “open-source strategy” that businesses in other industries may employ to quickly achieve significant net zero emissions. These measures include monitoring all emissions, putting performance ahead of promises, advancing the project with “real milestones,” making choices that will likely have an influence down the road, and addressing gaps left by premium carbon credits.
Mars intends to take the following actions to reach net zero emissions:
Making the switch to 100% renewable energy – Mars will alter how it uses the energy that farmers use to power its facilities, offices, and veterinary clinics. Along with altering its ingredient sourcing practices, the company plans to address the energy consumption of retailers, consumers, and pet owners at home.
Restructuring its supply networks to halt deforestation – Mars will improve the traceability and transparency of important components (cocoa, soy, and beef).
Increasing the scope of “climate smart agriculture” projects: Mars will assist farmers in implementing regenerative agriculture, maximizing sourcing, and switching to renewable energy sources.
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Recipe optimization: Mars will develop novel, lower-GHG-footprint ingredients for meals and snacks for people as well as “alternative proteins” for pet food.
enhancing and streamlining logistics: Mars will restructure the company’s transportation systems, networks, and energy sources (such as potential “green hydrogen” and electricity for cars).
Integrating climate action into business: Mars is going to include climate reductions into its business strategy and governance. In addition, the corporation will mention climate action as a shareholder aim in its merger and acquisition strategy, senior management remuneration plans, and investment planning procedures.
“While 2050 may seem far off, the advancements we make in the next seven years are crucial,” stated Paul Weihrauch, CEO of Mars, Inc. “CEOs of my generation have the power and obligation to place businesses on a clear route to net zero emissions by 2050 and to achieve real emission reductions. Mars is dedicated to achieving a 50% decrease in greenhouse gas emissions by the year 2030. We need to move forward with investments that safeguard our company both now and in the future; we cannot wait for the economy to improve. Profit and purpose are not antagonistic, as I have stated previously. Investing in climate change does not mean sacrificing the environment or employment in favor of the earth. Customers and our partners distinctly desire both, and we also do. It is a wise business decision, feasible, inexpensive, and imperative to invest in carbon reductions.
Mars’ net-zero plan is in line with recent conclusions about climate change. Among the results of a significant survey carried out by Mars and managed by the research firm Ipsos, 69% of adults in the seven largest economies in the world—the United States, the United Kingdom, China, Japan, Germany, France, and India—believe that companies should devote as much, if not more, of their attention to addressing climate change than to addressing economic difficulties. These respondents suggested that the initial 32% may rise to 37%. The survey also revealed that over half of these economies give governments and multinational corporations “a great deal” of responsibility when it comes to addressing climate change. Additionally, the Intergovernmental Panel on Climate Change (IPCC), supported by the UN, asserts that it is “now or never” to adopt drastic