Unilever launches €1bn climate and nature fund
Unilever has launched a €1bn fund to be spent over the next 10 years on projects like landscape restoration, reforestation, carbon sequestration, wildlife protection and water preservation.
The consumer goods giant also announced its intention to achieve net-zero emissions across all its products by 2039, saying it would prioritise partnerships with suppliers who have set science-based targets.
“Climate change, nature degradation, biodiversity decline, water scarcity – all these issues are interconnected, and we must address them all simultaneously," said Unilever CEO Alan Jope.
“In doing so, we must also recognise that the climate crisis is not only an environmental emergency; it also has a terrible impact on lives and livelihoods. We, therefore, have a responsibility to help tackle the crisis: as a business, and through direct action by our brands.”
Unilever also announced that it plans to achieve a deforestation-free supply chain by 2023 by increasing traceability and transparency through satellite monitoring, geolocation tracking and blockchain – accelerating smallholder inclusion and changing its approach to derivates sourcing.
A considerable 89% of its forest-related commodities are already certified as sustainably sourced to globally recognised standards.
Moreover, the company has introduced a pioneering Regenerative Agriculture Code for all our suppliers, building on its existing Sustainable Agriculture Code, which will include details on farming practices that help rebuild critical resources.
Unilever will also join the 2030 Water Resources Group, a multi-stakeholder platform hosted by the World Bank, to contribute to transformative change and building resilience in water management in key water-stressed markets, such as India, Brazil, South Africa, Vietnam and Indonesia.
“We will reduce the impact that our products and our operations have on the environment, and we will do our part to bring the planet back to health,” Jope added.