Unilever To Invest EUR 1 Bln In Climate & Nature Fund

(RTTNews) - Consumer goods giant Unilever plc. (UN, ULVR.L, UL) said that it will invest 1 billion euros in a new Climate & Nature Fund, and will achieve net zero emissions from all its products by 2039, more than a decade ahead of the 2050 Paris Agreement.

The fund will be used over the next ten years to take meaningful action, with projects likely to include landscape restoration, reforestation, carbon sequestration, wildlife protection and water preservation, the company said in a statement.

The company aims to have no carbon emissions from its own operations, and to halve the GHG footprint of its products across the value chain, by 2030.

The company will achieve a deforestation-free supply chain by 2023. It will increase traceability and transparency by using emerging digital technologies accelerating smallholder inclusion and changing approach to derivates sourcing.

The company noted that it will also empower, and work with, a new generation of farmers and smallholders, driving programmes to protect and restore forests, soil and biodiversity; and It will work with governments and other organisations to improve access to water for communities in water-stressed areas.

The company will implement water stewardship programmes for local communities in 100 locations by 2030.

Last week, Unilever said that it would merge its dual-headed legal structure to a single parent company, Unilever Plc.

Unilever currently operates as two separately listed companies- Unilever NV in the Netherlands and Unilever Plc in London.