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Dec. 3, 2020, 2:31 a.m. EST

Nestle to invest $3.5B to tackle climate change

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By Pietro Lombardi

Nestle SA will invest 3.2 billion Swiss francs ($3.58 billion) in initiatives aimed at tackling climate change over the next five years.

The Swiss food and beverage giant said Thursday that the investments will be funded mostly through operational and structural efficiencies and shouldn't have an impact on earnings.

Around CHF1.2 billion will go towards fostering regenerative agriculture in its supply chain, the company said.

As part of its efforts, Nestle aims to reach 100% renewable electricity in the next five years and to support farmers and suppliers to advance regenerative agriculture. It also wants to plant 20 million trees every year for the next 10 years in regions where it sources ingredients.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

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