Nestlé today joined (pdf, 3Mb) over 150 major multinationals in urging governments around the world to align their COVID-19 economic aid and recovery efforts with the latest climate science.
By signing this statement, supportive companies reaffirm their own science-based commitments to achieving net-zero carbon emissions. They also call on governments to prioritize a faster and fairer transition from a grey to a green economy.
The statement comes as governments around the world work on packages to help recover from the impact of the coronavirus pandemic, and as they prepare to submit enhanced national climate plans under the Paris agreement.
The initiative intends to unite businesses and governments in recovering better and delivering the greatest positive impact for people, prosperity, and the planet.
Signatories will continue to:
- demonstrate that the best decisions and actions are grounded in science;
- invest in recovery and resilience for systemic socio-economic transformations;
- work with governments and scale up the movement.
Mark Schneider, Nestlé CEO said: "Let’s work together to create a more sustainable and resilient world. We will play our part and are committed to net-zero greenhouse gas emissions by 2050."
Nestlé is accelerating its actions to tackle climate change and has committed to net-zero emissions by 2050. Plans to achieve this goal include restoring farmland and forests, increasing the use of renewable energy, and reformulating products that have a better environmental footprint and contribute to a balanced diet. Nestlé will publish a roadmap, including interim targets consistent with the 1.5°C path.
Read the full press release.
Nestlé is pleased to welcome Gim Huay Neo, Managing Director of Sustainability at Temasek, to its Creating Shared Value (CSV) Council.
Mark Schneider, Nestlé CEO, said: "Creating Shared Value is fundamental to how we do business at Nestlé. We believe that our company can only be successful in the long term by creating value both for our shareholders and for society. We greatly value the CSV Council’s guidance on our actions to ensure our business acts as a force for good. With her experience in sustainability strategy, solutions and impact investing, Gim Huay will be a great asset to the work of the Council."
The Creating Shared Value Council is an external advisory council formed in 2009. The Council helps to ensure the sound development long term sustainability and positive social and economic impact of the CSV business strategy. Chaired by Janet Voûte, the Nestlé Creating Shared Value Council is comprised of nine external members, whose expertise spans corporate social responsibility, strategy, sustainability, nutrition, water and rural development. Council members also form the judging panel for the Nestlé CSV Prize.
Find more information on the CSV Council.
Nespresso today announced the launch of the first coffee capsules made using 80% recycled aluminium. This is part of the company’s continued journey towards circularity, going further to minimize waste and maximize reuse of product materials.
"We are constantly challenging ourselves to improve the sustainability and circularity of our operations, including the way we source, use, and recycle materials. Reaching 80% recycled aluminium in our capsules is a significant milestone, and something we have worked hard to achieve together with our suppliers," said Jérôme Pérez, Nespresso Head of Sustainability.
The first ever coffee capsules made from 80% recycled aluminium are the Original Line Master Origin Colombia coffee. By the end of 2021, Nespresso aims to have the full Original Line and Vertuo ranges of coffee capsules made using recycled aluminium.
Due to the composition of the aluminium alloy required to produce Nespresso capsules, 80% is the current maximum amount of recycled content that can be used today. However, Nespresso continues to look at solutions that will increase that percentage.
The launch of these capsules follows the introduction of new fully recyclable boxes for Nespresso machines, made from 95% recycled material, earlier this year in March. By the end of 2021, Nespresso targets to have all machines sold in this new packaging.
Read the full press release
Nestlé and a wide range of stakeholders are calling for Nutri-Score to become the mandatory front-of-pack nutrition labeling system across the European Union (EU).
The coalition includes consumer organizations, academics, Members of European Parliament and food industry players. The group has written to Stella Kyriakides, the European Commissioner for Health and Food Safety, requesting that Nutri-Score becomes mandatory in the EU. Nutri-Score is currently only applied on a voluntary basis.
Nutri-Score is a color-coded system that classifies food and drinks according to their nutritional profile. It gives a score ranging from A (healthier choices) to E (less healthy choices). With the increased importance of cooking and eating at home, this simple format helps people make intuitive food choices.
Mark Schneider, Nestlé CEO, commented: “The COVID-19 crisis continues to impact all our lives in powerful and sometimes tragic ways. Our thoughts are with all those who have been affected and we extend our deepest sympathies to those who have lost loved ones.
Nestlé has a special responsibility at this time. Our food and beverage products help keep people healthy, provide comfort and support recovery.
Our people, in particular our frontline workers, have shown extraordinary commitment in keeping our business running and meeting consumer needs. We will continue to work hard to provide food and beverages to people across the world, every day.
Our company remained resilient in the first quarter, reflecting our diversified product portfolio and our strong local presence in 187 countries. However, this crisis is far from over and we will face many uncertainties in the coming quarters. We will continue to adapt quickly to changing consumer needs and to challenges in our global supply chains. As a reliable employer and business partner we are meeting our commitments. As a good citizen and trusted neighbor, we continue to offer our help, in particular to the most vulnerable in society. Over the last 154 years, Nestlé has successfully overcome many challenges. We are confident that - together with all those who are fighting against the pandemic and its consequences - we will also overcome this one.”
Read the full press release.
Follow the Investor call webcast hosted by Mark Schneider, Nestlé Chief Executive Officer, and François-Xavier Roger, Nestlé Chief Financial Officer live at 14:00 CEST.
The 153rd Nestlé S.A. Annual General Meeting took place in Lausanne today.
Out of concern for people’s health and in accordance with applicable ordinances of the Swiss authorities in light of the COVID-19 pandemic, shareholders could not attend in person. The meeting took place at the Beaulieu Convention Center in Lausanne and all legal proceedings were carried out as required. Shareholders were able to exercise their voting rights through the Independent Representative Hartmann Dreyer, Attorneys-at-law, who represented 57.8 percent of the capital and 80.1 percent of the shares entitled to vote.
The addresses of the Chairman and the CEO are available to view online. The detailed voting results (pdf) from the AGM have also been published. All proposals of the Board of Directors were approved with strong majorities.
Nestlé Chairman Paul Bulcke said: "Our Annual General Meeting at Lausanne-Beaulieu took place today as planned, although unfortunately without the presence of shareholders. I am truly sorry that we were unable to meet in person this year because of the pandemic that is affecting us all. I want to thank our shareholders for their understanding and for their continued trust and support of our company. I very much look forward to seeing them in person again next year under normal circumstances."
The annual review and the accounts were approved, as were the proposed dividend of CHF 2.70 per share and the planned capital reduction.
The shareholders elected Ms Hanne Jimenez de Mora, Co-founder and Chairperson of management consulting company a-connect (group) ag and formerly a partner with McKinsey & Company, as a new member of the Board. A video presenting Hanne Jimenez de Mora's candidacy to join the Board is available online.
Read the full press release
Nestlé has today joined the Child Learning and Education Facility (CLEF) coalition to boost quality education in rural communities in Côte d'Ivoire. The CLEF coalition is a pooled financing facility, and the first public-private partnership focused on scaling investments for quality education in Côte d'Ivoire. Members to date include the Ivorian government, UBS Optimus Foundation, ten other cocoa and chocolate companies and the Jacobs Foundation, who has been promoting the initiative.
Access to quality education is an essential tool to promote children’s rights and fighting child labor. The Jacobs Foundation is, therefore, working with public and private organizations to develop a sustainable ecosystem that will ensure education for all children. Over the past years, Nestlé has worked with the Jacobs Foundation to set up bridging classes and vocational training for young people through the Transforming Education in Cocoa Communities (TRECC) program. This partnership with the Nestlé Cocoa Plan helps children to (re-)integrate into the public-school system and support them to keep up with their peers.
Alexander von Maillot, Global Head confectionery and ice cream Strategic Business Unit at Nestlé, said: "We are pleased to contribute to the CLEF initiative to improve quality of education in Côte d'Ivoire. It builds on the work we have been doing with Jacobs Foundation under their TRECC program. Since 2012, Nestlé has contributed to improving access to education in the rural areas in Côte d'Ivoire. As part of the Nestlé Cocoa Plan, we have built or refurbished 49 schools in the cocoa growing communities. CLEF complements our wider actions to tackle child labor through the roll-out of the 'Child Labor Monitoring and Remediation System’. It helps address some of the root causes of child labor."
By 2030, CLEF aims to provide quality education for 5 million children and affect the behavior of 10 million parents. To achieve this goal, CLEF will bring effective learning to up to 10,000 primary schools in cocoa growing areas and beyond, and construct 2,500 classrooms and other education infrastructures such as bridge classes, community schools, school canteens, and pre-school classrooms.
Nestlé has joined five leading companies operating in the food, agriculture and forest sectors to support the implementation of climate-related financial disclosures. These companies collaborated with the World Business Council for Sustainable Development to publish a report that shares best practices. It aims at encouraging transparency and consistency in climate-related financial reporting.
The Task Force on Climate related Financial Disclosures (TCFD) develops recommendations to help companies disclose climate-related financial risks and opportunities. Companies are increasingly adopting the TCFD recommendations, but the pace of implementation remains slow. Challenges include a lack of information on the potential financial impact of climate change and the need for more clarity on the resilience of company strategies under different climate scenarios.
The new report showcases examples of effective disclosure practices from companies covering governance, strategy, risk management, metrics and targets. It also includes perspectives from investors on how they can use information published by companies to allocate financial capital. By sharing their individual experiences and learnings, participating companies hope to increase levels of adoption of the TCFD recommendations by the private sector.
Francois Xavier Roger, Executive Vice President, Chief Financial Officer at Nestlé said: "Climate change is one of the biggest threats we face as a society and one of the greatest risks to the future of our business. Without prompt collective action, the world will run out of time to avoid the worst effects of global warming. That is why Nestlé pledged in 2019 to reach a net-zero future by 2050. We have started to implement the TCFD's recommendations and were pleased to collaborate on the WBCSD's Food, Agriculture & Forest Products TCFD Preparer Forum with other companies. We welcome this report to promote transparency, comparability and consistency between companies regarding their climate disclosures."
To understand the potential risks and opportunities associated with a changing climate, in 2019 Nestlé conducted a high-level assessment of physical and transition exposure focused on coffee, cereals and dairy. Risks identified include the negative impact of climate change on raw material quality and availability, along with increased costs.
As part of its journey towards a net-zero future by 2050, Nestlé is supporting farmers and promoting innovation in agriculture. Raw material sourcing makes up the vast majority of the company's carbon footprint. Initiatives will focus on storing more carbon in the ground through soil management and land restoration, and halting deforestation to reduce greenhouse gas emissions.
Read the full press release