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Investing in sustainable operations is both the right thing to do and the smart thing to do. At Mars, we are already seeing the financial benefits of falling renewable energy prices and the long-term cost savings of clean technology. In addition, companies that embrace sustainability are demonstrating they take their accountabilities seriously, which is relevant to critical partners like customers, governments and NGOs, as well as current and future employees.
While national leadership remains paramount, businesses are essential partners for governments as they work to achieve their climate targets. For instance, companies and investors have registered more than 2,600 commitments ranging from 100 percent renewable energy purchasing to dramatic emission reductions under the NAZCA (Non-State Actor Zone for Climate Action) global platform established by the UNFCCC. Over 650 companies with a total market capitalization of over $15 trillion are taking bold climate action through the We Mean Business coalition’s Take Action campaign. And in the vanguard are companies that have committed to setting their own targets based on the best science aimed at keeping global temperature rise under 2 degrees C. Since December 2015, the number of businesses in the Science Based Targets initiative has more than tripled to 338 companies, including brands such as Mars, Hewlett Packard, PepsiCo, Carlsberg, Fujitsu, GlaxoSmithKline, Nestlé, Pfizer, Walmart and Xerox.