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Nestlé today announced its ambition to achieve zero net greenhouse gas emissions by 2050.

The global food giant will sign the ‘Business Ambition for 1.5°C’ pledge ahead of the UN Secretary General’s Climate Action Summit this month, pledging to limit global temperature rise to 1.5°C, the most ambitious aim of the Paris Agreement.

“Climate change is one of the biggest threats we face as a society. It is also one of the greatest risks to the future of our business,” said Mark Schneider, Nestlé chief executive.

“We are running out of time to avoid the worst effects of global warming. That is why we are setting a bolder ambition to reach a net-zero future.”

Schneider said the firm, the largest food company in the world, hopes to make “a difference at significant scale” with its global resources and industry know-how.

Nestlé would be launching more plant-based food and beverage options and reformulating its products using more climate-friendly ingredients to achieve the 2050 ambition.

The company will explore alternative packaging materials and scale up initiatives in agriculture to absorb more carbon, among other initiatives.

“To align our goals to the 1.5°C pathway, we are transforming our operations. This will lead to a major shift in the way our ingredients are produced and sourced. We will need our suppliers to embark on this journey with us,” said Magdi Batato, executive vice president, head of operations at Nestlé.