Companies draw up plans for net-zero
WHILE there is a broad plan for the country to achieve net-zero – the target for the complete reduction in global emissions of carbon dioxide by 2050 – companies are also drawing up their strategies towards this end. In their plans, they show a strong awareness and determination to reach this target and improve their environmental footprint; some have tapped into opportunities arising from this transition. Nestle (M) Bhd's sustainability actions, said its CEO Juan Aranios, are based on four focus areas: climate change; to reduce carbon emissions by 20% by 2025, halve it by 2030 and achieve net-zero by 2050, sustainable packaging and circularity; to reduce one-third of its usage of virgin plastics, ensure that 100% of its product packaging is designed for recycling and achieve plastic neutrality by 2025, sustainable sourcing; to achieve 100% responsibly sourced palm oil by 2023 as well as cocoa and coffee by 2025, water; to maintain good water resource management and continue to support communities in need of clean water.