Mars has announced a £400 million ($500 million) sustainability bond which will invest in renewable energy, energy efficiency and green building as part of its climate strategy.
The new sustainability bond – funding which is ringfenced for projects intended to deliver a positive environmental impact – was completed last week, with Mars’ plans helping in its mission to “achieve net zero emissions by 2050”.
Mars chief financial officer Claus Aagaard said last week that the company is proud of the bond offering’s completion and explained that it would aid the brand in meeting its Sustainable in a Generation plan.
In January the UK’s former climate business expert Nigel Topping said the world could achieve net zero emissions by 2040 if governments made tougher policies.
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Mars’ plan includes initiatives around nutrition and wellbeing for consumers and staff, while other focuses include working with NGOs to respect and improve human rights and deliver equal opportunities.
The multinational confectionery company’s sustainability strategy also includes a focus on packaging – the brand says it aims to eliminate deforestation in its supply chain and to ensure that packaging material never becomes waste.
According to Zero Waste Europe C02 emissions from materials used for packaging accounts for more than those from the aviation industry.
“The situation facing our planet is urgent. That means that now more than ever, businesses must stand for more than just maximising profit and take real action to avoid the worst impacts of climate change, and to protect the future for coming generations,” said Aagaard.
“Finance is at the heart of this pursuit: we cannot uncouple sustainability from financial performance, rather the two are mutually reinforcing.”
