Microsoft & Nestlé make climate commitments on carbon output & sustainable packaging ahead of Davos 2020
"Microsoft, Nestlé and BlackRock put climate action centre stage at Davos", 20 January 2020
This week's gathering..in Davos...is a major date in the sustainable business calendar, with big corporates using the media spotlight on the Swiss ski resort to highlight major announcements.
...Nestlé, the Swiss food giant, came out with a pledge to invest up to CHF2bn ($2.07bn) to accelerate the development of sustainable packaging solutions. Of this CHF1.5bn will go towards paying premiums for sourcing food-grade recycled plastics between now and 2025. The move is in line with Nestlé's pledge to make all its packaging recyclable or reusable by 2025.
Hot on its heels came Microsoft, with a promise to remove all the carbon it has ever created by 2050. Included in the commitment by the US tech giant (founded in 1975) is an interim pledge to become carbon negative by 2030...
It also intends to plough $1bn into a climate innovation fund to accelerate the global development of carbon reduction, capture and removal technologies. Both companies, incidentally, make it onto a new list launched by the World Benchmarking Alliance of the 2,000 private sector organisations judged most likely to help deliver on the UN's Sustainable Development Goals.