Mars launches $250 million investment fund, targeting recyclable and compostable flexible packaging
Recently, Mars, a supplier of snacks, food and pet care products, launched a $250 million sustainable development investment fund that focuses on areas that have the greatest impact on Mars' environmental footprint and carbon emissions.
Key investment areas include:
Advanced agriculture - aimed at seeking technologies that can reduce emissions from agricultural inputs in the company's products;
Innovative ingredients and raw materials - healthier, low-emission product ingredient alternatives;
Next-generation packaging - with a special focus on "bio-friendly" alternatives to flexible plastics, including recyclable and compostable materials
Mars sees these funds as a contribution to the three pillars of its "Generational Sustainability Plan": protecting the health and prosperity of the planet, helping people flourish, and promoting the well-being of people and pets.
According to its latest report, "2024 Mars Sustainable in a Generation Report", Mars said that 64.1% of its consumer-facing packaging is designed to be reusable, recyclable or compostable, which is an increase of 3.1% from the previous year.
However, having missed its original target of 100% reusable, recyclable or compostable packaging by 2025, Mars stressed that "the required design and infrastructure changes are taking longer than we expected when we signed the Ellen MacArthur Foundation Global Commitment, and while nearly half of its packaging portfolio has been redesigned for current and future recycling technologies, addressing these fundamental issues is not achievable by the business alone."
In 2024, Mars had net sales of approximately $55 billion.
