Unilever’s brands will collectively invest €1 billion in a new dedicated Climate & Nature Fund.
This will be used over the next ten years to take meaningful and decisive action, with projects likely to include landscape restoration, reforestation, carbon sequestration, wildlife protection and water preservation.
Unilever aims to achieve Net Zero emissions from all its products by 2039. Unilever says in order to achieve this goal 11 years ahead of the 2050 Paris Agreement deadline, the company must work jointly with its partners across its value chain, to collectively drive lower levels of greenhouse gas emissions.
Further stating: “The race to zero must be a collective effort, and business alone cannot drive the transition at the speed that is required. We call on all governments to set ambitious net-zero targets, as well as short term emissions reduction targets, supported with enabling policy frameworks such as carbon pricing.”
Unilever has announced it will achieve a deforestation-free supply chain by 2023 by increasing traceability and transparency with emerging digital technologies, such as satellite monitoring, geolocation tracking and blockchain.
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Unilever is also introducing a pioneering Regenerative Agriculture Code for all its suppliers. The new code will build on our existing Sustainable Agriculture Code, which is widely recognised as being best-in-class in the industry, and it will include details on farming practices that help rebuild critical resources.
The company will implement water stewardship programmes for local communities in 100 locations by 2030, as well as joining the 2030 Water Resources Group.
Alan Jope, Unilever CEO, explains: “While the world is dealing with the devastating effects of the Covid-19 pandemic, and grappling with serious issues of inequality, we can’t let ourselves forget that the climate crisis is still a threat to all of us. Climate change, nature degradation, biodiversity decline, water scarcity – all these issues are interconnected, and we must address them all simultaneously. 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.”