Mars Incorporated has unveiled an ambitious business plan to develop "cutting-edge solutions" to some of today's pressing sustainability challenges.
The company behind popular brands such as Kind, M&M's, Snickers, and Pedigree announced on July 1 that it has launched the $250 million Mars Sustainability Investment Fund.
The move comes as Mars continues its push toward maximizing profitability while slashing heat-trapping pollution, which has caused global temperatures to rise and subsequently posed a threat to the stability of our food systems.
Mars says its mission to decouple planet-warming pollution from its expansion paid clear dividends in 2024. The company raked in around $55 billion in annual net sales, representing nearly a 70% growth rate, while emissions dropped by 16.4% compared to its 2015 baseline.
"I'm pleased to see our continued ability to decouple our business growth from our carbon footprint while simultaneously investing in innovation and getting behind startups that will be creating new solutions and advance breakthroughs to help companies address resilience challenges," Mars CEO Poul Weihrauch said in the release.
"These are important areas to make meaningful progress in helping us to reduce exposure to future environmental risks, and eventually, turn it into profit and competitive advantage."
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
Like any major corporation, Mars isn't immune from criticism. In the past, the Rainforest Action Network alleged that the company's claims of using deforestation-free palm oil in its products amounted to little more than greenwashing.
However, Mars has also made a meaningful impact through a variety of eco-friendly initiatives that support local communities, including its coral reef restoration program in Indonesia. The Mars Sustainability Investment Fund could be yet another piece of the puzzle.
Mars said it plans to use the fund to invest in climate-smart agriculture, supporting technologies that reduce emissions, and incorporating more sustainable and "better-for-you" ingredients into its products. The fund is also part of its packaging overhaul to focus on recyclable, compostable, or bio-based alternatives to dirty fuel-derived plastics.
"We're firmly committed not just to targets in a distant future but to delivering progress now," said Alastair Child, Mars chief sustainability officer. "In order to do this, societal impact goals have to be built into business decision making. … We need systemic change across our supply chains, with governments, industry and farmers all playing a role."
TCD Picks » Stasher Spotlight
💡Stasher's reusable food storage options make it easy and affordable to live life with less plastic
|
Should the government continue to give tax incentives for energy-efficient home upgrades? Click your choice to see results and speak your mind. |
Absolutely 💯 
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
