Sweden pledges extra $19m in Loss and Damage Fund
Sweden pledges additional $19 million to the Loss and Damage Fund at the 29th United ...
Nestlé allocated CHF 4 million investments to plant three million trees in Malaysia by 2023 under Project RELeaf. This will contribute to accelerating reforestation efforts in view of the pressing climate change issue.
This announcement is part of Nestlé’s broader reforestation initiative. It will help accelerate the company’s global pledge to address climate change and achieve zero net greenhouse gas emissions by 2050.
Chris Johnson, Executive Vice President Nestlé S.A., Chief Executive Officer, Zone Asia, Oceania and sub-Saharan Africa, said: “We are mindful of the urgent need to address climate change, which is a threat to the sustainability of our business as well as for the planet’s future. Project RELeaf will enable us to accelerate our net-zero ambition by scaling up nature-based solutions to tackle this global climate issue. Not only will Project RELeaf enhance biodiversity, but it will subsequently help to absorb carbon emissions. Planting trees in locations where Nestlé sources its ingredients is contributing to the responsible management of our supply chain. Furthermore, reforestation complements our efforts to halt deforestation in our supply chains.”
Project RELeaf builds on the pioneering Kinabatangan Rileaf Project, established by Nestlé in 2011, which helped plant one million trees in Sabah. By widening its reach in Sabah and expanding for the first time to Peninsular Malaysia, Project RELeaf aims to scale up Nestlé’s efforts to restoring riparian and forest in locations where palms are grown, that also contributes in establishing wildlife corridors to mitigate human-wildlife conflict, while reducing negative impact on critical water supplies. The project will also help develop greater awareness amongst local communities on environmental preservation and will provide additional sources of income to help improve livelihoods.
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