Unilever to drop fossil fuels from cleaning products by 2030 By Reuters

Unilever to drop fossil fuels from cleaning products by 2030


© Reuters. FILE PHOTO: The logo of Unilever is seen at the headquarters in Rotterdam

(Reuters) – Unilever Plc (L:) said on Wednesday it would invest 1 billion euros to eliminate fossil fuels from its cleaning products by 2030, cutting down on carbon emissions created by the chemicals used in making the products.

The household goods conglomerate behind the Omo, Cif, Sunlight and Domestos brands said that, instead of petrochemicals, the products would substitute constituents created from plants and other biological sources, marine sources such as algae and waste materials.

Chemicals used in its cleaning and laundry products make up 46% of the company’s Home Care division’s carbon emissions across their lifecyle, and the switch – which Unilever said it is the first company to commit to – will cut those emissions by a fifth.

Unilever’s total greenhouse gas footprint is about 100 million metric tonnes of carbon dioxide equivalents globally.

The Anglo-Dutch maker of Dove soap and Knorr soup is currently facing unprecedented demand for cleaning products in response to the coronavirus pandemic.

It reported in July that Cif surface cleaners and Domestos bleach sales jumped in the double-digits in the first half of 2020.

“People want more affordable sustainable products that are just as good as conventional ones,” Peter ter Kulve, Unilever’s President of Home Care said.

“We must stop pumping carbon from under the ground when there is ample carbon on and above the ground if we can learn to utilise it at scale,” he added.

Unilever aims to reduce carbon emissions from its own operations and its suppliers to zero by 2039, an plan that is 11 years ahead of a deadline enshrined in the 2015 Paris Agreement on combating global warming.

This year CDP, a global non-profit carbon disclosure group,

ranked Unilever as one of only seven of 182 major companies to achieve an A rating for environment friendly governance in the three categories of climate change, water and forests.

Unilever said the 1 billion euro investment would be used to finance biotechnology research and carbon dioxide utilisation, and create biodegradeable and water-efficient product formulations.

New products under its Persil brand, reformulated to use plant-based stain removers, will appear on UK supermarket shelves from this month, it added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME