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illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: Mars Inc. has tied executive pay to its sustainability goals, signaling the importance of climate action at the highest levels of the company
• In 2023, Mars reduced its carbon emissions by 8%, part of its broader goal to halve emissions by 2030 compared to 2015
🔭 The context: Since 2015, Mars has cut emissions by 16%, equivalent to 5.7 million metric tons, while growing its business by 60%
• The company's supply chain, responsible for 96% of its carbon footprint, is a key focus, especially agricultural practices
🌍 Why it matters for the planet: Mars is pushing corporate responsibility in curbing Scope 3 emissions, which are the hardest to manage but crucial for achieving global net-zero targets
⏭️ What's next: Mars plans to invest over $1 billion in climate initiatives and continues to innovate, including large-scale renewable energy projects, aiming for 100% renewable electricity by 2040
💬 One quote: “We’ve made our sustainability goals as important as our financial goals, and 20% of our overall executive remuneration is attached to our sustainability goals,” said Barry Parkin, Mars Chief Sustainability Officer
📈 One stat: Mars has cut emissions by 16% since 2015, while growing its business by 60%
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