General Mills has outlined a plan to cut carbon emissions by nearly 30% over the next decade, an ambitious goal that will require the cereal maker to lean on farmers and suppliers to make that vision a reality.
The maker of Cheerios and Lucky Charms cereals on Monday said it wants to reduce greenhouse gas emissions by 28% across the company’s supply chain – which encompasses “farm to fork to landfill” – over the next 10 years.
General Mills (GIS) says it will invest more than $100 million in energy efficiency and clean energy, an investment level that is in line with the work the company has done to reduce emissions since it first moved to be more environmentally friendly in 2005. At that time, the focus was on the food company’s direct operations. Over the past decade, General Mills was able to cut emissions within its own operations by 13%.
But today, General Mills says it will have to work with the company’s partners to achieve its goals. That’s because nearly two-thirds of General Mills’ total greenhouse gas emissions occur beyond its direct operations.
“We know our greatest impact is outside our four walls – particularly in agriculture, ingredients and packaging,” said Ken Powell, chairman and CEO of General Mills. To reduce emission levels, he said the company would need to work with growers, suppliers and industry partners.