Swiss multinational food and drink processing conglomerate Nestlé is planning to invest a total of CHF3.2bn ($3.5bn) over the next five years as it targets to reduce its emission levels by 50% by 2030 and achieve net-zero by 2050.

As a signatory of the UN ‘Business Ambition for 1.5°C’ pledge, the Swiss firm said that it is one of the first companies to share its detailed plan and to do so ahead of schedule.

Nestlé chairman Paul Bulcke said: “The Board recognises the strategic importance of taking decisive measures to address climate change. It supports accelerating and scaling up our work to ensure the long-term success of the company and to contribute to a sustainable future for generations to come.”

As part of this initiative, the company will be focusing on three areas: operations, product portfolio, and regenerative agriculture practices.

For supporting, regenerative agriculture practices across the company’s supply chain Nestlé will be investing approximately CHF1.2bn ($1.3bn).

Currently, the company is said to have been working with more than 500,000 farmers and 150,000 suppliers to support the implementation of regenerative agriculture practices.

Through these practices, the company aims to improve soil health and maintain and restore diverse ecosystems.

Additionally, Nestlé intends to plant 20 million trees annually for the next ten years in the regions wher it sources ingredients.

It also said that the company’s primary supply chains of key commodities such as palm oil and soy will be deforestation-free by 2022.

Over the next five years, the company intends to source 100% renewable energy to power its operations across its 800 sites in 187 countries.

It also aims to address the issues like food wastage and emissions from its global fleet of vehicles and business travel by 2022.

To achieve its target, Nestlé will be enhancing its plant-based product portfolio, as well as will be reformulating products to make them more environmentally friendly.

Nestlé said that it also increased its ‘carbon neutral’ brands to support its efforts to fight against climate change.

The company said that its Garden Gourmet plant-based food brand will achieve carbon neutrality by 2022, while its Sweet Earth will achieve the target by 2025.

Furthermore, its Garden of Life supplements could achieve carbon neutrality by 2022.

Its other beverage brands Nespresso, San Pellegrino, Perrier and Acqua Panna will achieve carbon neutrality by 2022, while Nestlé Waters category is said to accomplish the target by 2025.