The owner of brands such as KitKat, Milkybar and Smarties is aiming to achieve net zero greenhouse gas emissions by 2050.
Some of its commitments include launching more products that have a better environmental footprint and contribute a balanced diet, looking at more plant-based food and beverage options, as well as reformulating its products using more climate-friendly ingredients.
Nestlé has also pledged to strengthen its programmes with farmers to restore land and limit greenhouse gas emissions, including improved management of its dairy supply chain as well as use 100% renewable power at its factories, warehouses, logistics and offices.
A third of its factories – 143 – are already using 100% renewable electricity.
The company has reduced greenhouse gas emissions equivalent to taking 1.2 million cars off the road across its entire value chain since 2014.
Nestlé will also set out a “time-bound” plan, including interim targets consistent with the 1.5°C path over the next two years, reviewing its progress annually to ensure it is on track.
CEO Mark Schneider said: “Climate change is one of the biggest threats we face as a society. It is also one of the greatest risks to the future of our business, We are running out of time to avoid the worst effects of global warming. That is why we are setting a bolder ambition to reach a net zero future.
“Deploying Nestlé’s global resources and industry know-how, we know we can make a difference at significant scale. Our journey to net zero has already started. Now, we are accelerating our efforts.”