Nestle to invest US$3.58 billion to cut carbon emissions

ZURICH: Nestle said on Thursday (Dec 3) it plans to invest 3.2 billion Swiss francs (US$3.58 billion) over the next five years to reduce its climate impact and help it get to net zero emissions by 2050.

The world's biggest food company said it would work with farmers and suppliers to promote regenerative agriculture, plant hundreds of millions of trees, and switch to renewable electricity for all its power by 2025.

The maker of KitKat chocolate bars and Nescafe coffee, which produced 92 million tonnes of greenhouse gases in 2018, said it would finance these investments primarily through operational and structural efficiencies to keep this initiative earnings neutral.