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Nestlé joins LEAF coalition to mobilize $ 1 bn to protect forests
Nestlé has joined the Lowering Emissions by Accelerating Forest finance (LEAF) Coalition to mobilize at least $ 1 billion in financing efforts to help protect tropical forests, to the benefit of billions of people depending on them, and to support sustainable development.
Ending tropical deforestation by 2030 is a crucial part of meeting global climate, biodiversity and sustainable development goals. The LEAF Coalition aims to raise global climate ambition and contribute to tropical forest protection. It will provide results-based finance to countries to protecting their tropical forests.
Launched today at the Leaders Summit on Climate, the LEAF Coalition is a new public-private initiative with initial participation from the governments of Norway, the United Kingdom, the United States, and leading companies, including Nestlé and coordinated by Emergent, a US non-profit organization.
Participating companies are already committed to deep voluntary cuts in their own greenhouse gas emissions in line with science-based targets and consistent with the long-term temperature goals of the Paris Agreement.
The LEAF Coalition is an avenue for companies to support additional and urgently needed climate action in tropical forest countries, helping them meet ambitious national climate targets.
Mark Schneider, Nestlé CEO, said: “Tackling deforestation and restoring forests are must-win battles for addressing global climate change. Nestlé is proud to join the LEAF Coalition, working with national governments and other companies to accelerate climate action. This complements our drive towards reaching net zero emissions, achieving deforestation-free supply chains and planting the equivalent of 200 million trees by 2030.”
Nestlé’s ongoing actions to protect and restore tropical forests where and near to where it sources its main ingredients form part of the company’s 2050 climate roadmap.
For over ten years, Nestlé has used a combination of tools, including certification, supply chain mapping and satellite imagery, to achieve its no-deforestation commitment. Furthermore, the company is now focusing on forest conservation and restoration.
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