Food, pet care and veterinary medicine company Mars announced that it achieved another 1.9% reduction in absolute GHG emissions by the end of 2024 and launched a $250 million sustainability investment fund.
The reduction in emissions occurred while the company increased its business over 69% to approximately $55 billion in annual sales during the same period.
In 2024, Mars focused on partnerships advancing innovative agricultural practices and deforestation-free supply chains. The company increased the number of climate-smart agriculture projects to more than 60, covering 13 crops in 29 countries.
Mars is also working alongside its partners to help them reduce energy usage in direct operations, adopt farming practices that regenerate soils, and future-proof farming businesses by making them less exposed to hazards such as flooding, drought or pests, according to its 2024 Mars Sustainable in a Generation Report.
The company also launched the Mars Sustainability Investment Fund (MSIF) with a total capital commitment of up to $250 million. The business plans to deploy capital across investment funds and direct investments.
The fund is focused on the following areas: Advanced Agriculture, or technologies that reduce the emissions associated with agricultural inputs in its products; Innovative Ingredients and Raw Materials, or lower emission or “better-for-you” alternatives to existing ingredients used in its products; and Next Generation Packaging, or packaging designed for circularity with a focus on recyclable, compostable or otherwise bio-benign replacements for flexible plastics. The fund builds on the company’s commitment to make substantial investments to advance its Sustainable in a Generation Plan.
In 2024, Mars expanded the number of leaders who have their long-term compensation tied to GHG emissions reductions alongside other more traditional business performance metrics from the top 400 to approximately 2,000, reinforcing its commitment to embedding responsible business practices at every level of the organization.
“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 start-ups that will be creating new solutions and advance breakthroughs to help companies address resilience challenges,” said Poul Weihrauch, Mars CEO, in a statement. “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.”