General Mills, famous for their popular cereal brands has created a plan to cut carbon emissions by 28% over the next decade in a continuing effort to become a more sustainable company.
According to Fortune, General Mills will invest more than $100 million in efficient and clean energy. The company started efforts to reduce their emissions in 2005, when they focused on their direct operations. Since then, the company has pledged to find sustainable sources for its 10 most-used ingredients by 2020. With their efforts, General Mills was able to cut down their emissions by about 13% in the past decade.
However, their original investment only focused internally. With their new plan, General Mills will work with their partner to achieve an emission reduction across all parts of their supply chain.
”We know our greatest impact is outside our four walls –- particularly in agriculture, ingredients, and packaging,” says Ken Powell, chairman and CEO of General Mills. “To reduce emission levels, we must work across out value chain with growers, suppliers, customer and industry partners. Together, we will identify new solutions and promote sustainable agriculture practices that drive emission reductions.”
Companies are now being pushed to adopt “greener” practices by reducing their emissions and making more efficient products. For example, many businesses are looking to cut down on the their product packaging, replacing them with sustainable, flexible packaging materials. In the past five years, the global market for flexible packaging grew at an average rate of 3.4% per year, and the industry is now valued at approximately $248 billion.
“We recognize that we must do our part to protect and conserve natural resources,” says Powell. “Our business depends on it and so does the planet.”