Mars has unveiled a strategic initiative, Renewable Acceleration, reinforcing its commitment to clean energy across its global operations. Teaming up with Enel North America, Mars aims to diminish its reliance on fossil fuels, promoting sustainable practices within its value chain. This program aligns with the company’s broader sustainability targets, promising significant reductions in carbon emissions. Emphasizing collaborative demand for renewable energy, this endeavor addresses the energy consumption of not only Mars but also its extensive network of partners, promising cleaner air and positive environmental impact.
In the context of its ongoing sustainability journey, Mars announced that its recent goals involved cutting carbon emissions by 50% throughout its entire value chain by 2030. The company has committed to investing over $1 billion over three years to advance these climate objectives. Mars’ electricity usage spans 8-9 TWh annually across its value chain, indicating the substantial energy needs it must address to achieve its targets.
What is Renewable Acceleration?
Renewable Acceleration intends to expedite Mars’ shift to sustainable energy solutions. By engaging with Enel North America, Mars has forged the largest power purchase agreement (PPA) in Enel Group’s history with a commercial and industrial client. This arrangement grants Mars access to the entire output of Enel’s solar plants in Texas, supplying around 1.8 TWh annually. Mars expects these efforts will eliminate roughly 700,000 tons of carbon emissions per year.
How Will This Affect Emissions?
The Renewable Acceleration initiative is projected to cut Mars’ total carbon footprint by 10% by 2030, equivalent to a reduction of nearly 3 million tonnes of carbon emissions. This ambitious plan underscores Mars’ commitment to aligning its operations with efficient, clean energy sources. The initiative goes beyond addressing its direct facilities, incorporating the broader spectrum of its value chain, including farmers and consumers, into its renewable energy framework.
Kevin Rabinovitch, Global VP Sustainability at Mars, elaborated on the program’s significance:
“Many large companies are well on their way to sourcing renewable electricity for their own operations, but that’s just a part of the picture. For Mars, Renewable Acceleration is a performance accelerator, cutting emissions at a scale and speed we could never achieve through traditional value chain engagement approaches.”
He added that the initiative enhances demand in the clean energy market, urging quick development of a sustainable future.
In a statement emphasizing corporate responsibility, Michele Di Murro, CEO of Enel North America, stated:
“Renewable Acceleration is a bold initiative to support the buildout of more clean energy capacity, which we know is among the fastest and most economical ways to decarbonize. Mars is raising the bar for corporate sustainability strategies, taking a comprehensive and direct approach to addressing emissions across its entire value chain.”
With Enel’s support, Mars seeks further enhancements to sustainability through additional global agreements.
Mars’ commitment to sustainability highlights a growing trend in the industry, where corporations adapt their strategies to address climate change. As companies set ambitious renewable energy goals and engage in strategic partnerships, they influence industry-wide shifts towards more sustainable operations. Mars’ approach, as illustrated by Renewable Acceleration, represents a step forward among corporate initiatives aimed at reducing environmental impact, setting a precedent for future endeavors.
Mars’ Renewable Acceleration program presents an approach with significant potential. By leveraging partnerships and comprehensive strategies, Mars showcases a framework where corporate sustainability and environmental responsibility intersect effectively. This initiative not only supports existing climate action plans but also amplifies the demand for and development of clean energy resources, offering practical insights into how large-scale businesses can navigate and fulfill their sustainability goals efficiently.
