Other Companies Should Follow Suit
This week’s newsletter is co-written with my friend Peter Ebsen. To read our earlier primers on how nature-based carbon removal projects can accelerate climate progress in a progressive way, see here and here, and for our primer on climate disclosures, see here.
Many readers are asking what we think about Nestle’s recent statements that they are moving away from carbon neutrality.
Specifically, Nestle said that they will:
- no longer rely on avoided-emission carbon offset projects to achieve net zero;
- stop using claims of carbon neutrality for brands like Kit Kats;
- prioritize direct emission reduction; and
- when they do use carbon removal credits (they can’t get all the way to net zero otherwise), they will only use projects sourced from the company’s value chain.
We think this is all positive, and we hope that these plans serve as a model for other net zero-pledging companies.
Here are 4 specific lessons we draw from Nestle’s statements: