financetom
Business
financetom
/
Business
/
Unilever strikes climate deals with Walmart, others to meet sustainability goals
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Unilever strikes climate deals with Walmart, others to meet sustainability goals
Oct 2, 2024 11:35 PM

LONDON (Reuters) - Unilever ( UL ) has agreed sustainability deals with its top 10 retail customers, including Walmart ( WMT ), aimed at cutting greenhouse gas emissions and minimising waste in its supply chain, the consumer giant's CEO said on Monday.

Unilever ( UL ), which makes Dove soap, Knorr stock cubes and Ben & Jerry's ( UL ) ice cream, was in the wake of the 2015 Paris agreement on climate change the consumer industry's poster child for setting tough sustainability targets.

About two years ago, however, the company came under pressure from some investors concerned that Unilever's ( UL ) climate strategy was distracting it from growing profits.

CEO Hein Schumacher in April changed some of the company's years-old sustainability goals, leading to both praise from some investors and criticism from climate activists.

"What's new and what's coming, and what I expect a lot from in the years to come, is (our) collaboration on sustainability agreements with (retail) customers," Schumacher said in an interview at the Reuters IMPACT conference in London on Monday.

"We have a sustainability collaboration agreement... with Walmart ( WMT ), for example...(The agreement) is about greenhouse gas emission reduction, and we are their scope three."

Scope 3 emissions are those a company is indirectly responsible for across its supply and distribution chain, according to a classification development by non-profit thinktank the World Resources Institute. A company's in-house operations and energy use make up what is called Scope 1 and 2 emissions.

Walmart ( WMT ) has said previously it was working with suppliers to avoid a 'gigaton' of greenhouse gas emissions from the global value chain by 2030. Since it launched the initiative in 2017, suppliers have reported that a total of 574 million metric tons of emissions had been reduced or avoided, according to the retailer's website.

Schumacher said Unilever ( UL ) also has a deal with health and beauty retailer A.S. Watson's to create sustainable products like body wash and toothpaste.

He added that Unilever ( UL ) was using climate-modelling to cut supply chain emissions and make operations more resilient to adverse events like drought.

"(Because of drought) we've completely changed our mustard seed supply chain. We're changing our tomato supply chain, and they do become a bit more resilient," he said.

(Reporting by Richa Naidu; Editing by Emelia Sithole-Matarise)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Lamb Weston shareholders unhappy with management, Jana says, hinting at proxy fight
Lamb Weston shareholders unhappy with management, Jana says, hinting at proxy fight
Jan 27, 2025
NEW YORK, Jan 27 (Reuters) - Lamb Weston ( LW ) shareholders love the French fry maker's products but are unhappy with management, activist investor Jana Partners told the company's board on Monday, signaling that it may launch a board fight later this year. The investment firm, which owns more than 5% of the roughly $9 billion company, polled Lamb...
Te Connectivity Insider Sold Shares Worth $587,706, According to a Recent SEC Filing
Te Connectivity Insider Sold Shares Worth $587,706, According to a Recent SEC Filing
Jan 27, 2025
04:10 PM EST, 01/27/2025 (MT Newswires) -- Shadrak W Kroeger, President, Industrial Solutions, on January 27, 2025, sold 3,889 shares in Te Connectivity ( TEL ) for $587,706. Following the Form 4 filing with the SEC, Kroeger has control over a total of 25,976 shares of the company, with 25,976 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1385157/000122520825000880/xslF345X05/doc4.xml ...
FirstSun Capital Bancorp Q4 Adjusted Income Declines, Revenue Increases
FirstSun Capital Bancorp Q4 Adjusted Income Declines, Revenue Increases
Jan 27, 2025
04:13 PM EST, 01/27/2025 (MT Newswires) -- FirstSun Capital Bancorp ( FSUN ) reported Q4 adjusted income late Monday of $0.86, down from $0.94 a year earlier. Two analysts polled by FactSet expected $0.83. Revenue for the quarter ended Dec. 31, expressed as the sum of net interest income and noninterest income, was $98.7 million, compared with $89.3 million a...
Willis Lease Finance's Unit Signs Maintenance Service Agreement With TUI Airways
Willis Lease Finance's Unit Signs Maintenance Service Agreement With TUI Airways
Jan 27, 2025
04:00 PM EST, 01/27/2025 (MT Newswires) -- Willis Lease Finance ( WLFC ) said Monday its Willis Aviation Services unit has signed a long-term maintenance service agreement with TUI Airways. Willis Aviation Services will provide base maintenance services for TUI Airways' narrowbody fleet at its Teesside International Airport facility in northeastern England, starting with two Boeing 737NG checks, the company...