Commercial, GHG Emissions - June 17, 2020
Unilever launches €1 billion climate fund across brands
Unilever announced June 16 that they will be investing €1 billion into a new Climate & Nature fund that will fund environmental projects over the next 10 years and contribute to their achievement of net-zero carbon emissions from all their products by 2039.
The investment will come from a collective effort from all of Unilever’s brands. Some of their brands have already implemented climate projects that the new fund will be built on, like Ben & Jerry’s reducing greenhouse gas emissions on dairy farms, Seventh Generation’s clean energy advocacy and Knorr’s support of sustainable farming practices.
Currently, Unilever is pursuing their science-based targets of eliminating carbon emissions from their operations and halving the carbon footprint of their products across the value chain by 2030. The company plans to ramp up their efforts working with suppliers to achieve net-zero emissions across all products by 2039.
Unilever also engages in sustainable sourcing practices and 89% of their forest-related commodities are certified as sustainably sourced. They intend to achieve a deforestation-free supply chain by 2023.
“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,” Unilever CEO said in a statement. “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 recognize 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.”