On Monday, Unilever Plc. said that it would get into net-zero greenhouse gas emissions from all its products by 2039. The company will also invest EUR1 billion (USD1.1 billion) for the “Climate & Nature Fund” for its climate change projects.
Over the next decade, the fund will invest in projects including reforestation, water preservation, and carbon sequestration.
The target will be an extension of the measures that the company has been taking to cut emissions by 2030, including decreasing electricity consumption within offices.
The company will prioritize partnerships with suppliers who have set emission reduction targets. A system has been set, where suppliers must declare the carbon footprint of goods and services provided. It will also utilize satellite monitoring, geolocation tracking, and blockchain among other digital technologies to increase traceability and transparency within its supply chain.
In the future, Unilever’s packagings will show the carbon footprint of the product. The company would make all product formulations biodegradable and aims for a deforestation-free supply chain by 2023.
In 2019, Unilever’s total greenhouse gas footprint was around 60 million tonnes of carbon dioxide equivalent. It has an annual turnover of EUR52 billion (USD58.6 billion).
