British-Dutch multinational consumer goods company Unilever is planning to invest €1 billion in a fund to invest in climate change projects and reduce to net zero greenhouse gas emissions from all its products by 2039.
The company also plans to use blockchain and other technologies to improve traceability and transparency for its supply chain.
Unilever Chief Supply Chain Officer Marc Engel says in most parts of the world, the economic and social inclusion of farmers and smallholders in sustainable agricultural production is the single most important driver of change for halting deforestation, restoring forests and helping regenerate nature.
"In the end, they are the stewards of the land. We must, therefore, empower and work with a new generation of farmers and smallholders in order to make a step change in regenerating nature," he added.
Unilever hopes with the help of new technologies to achieve a deforestation-free supply chain by 2023.
In 2018, Unilever integrated the blockchain technology for its business purposes to restructure the way in which demographic and location data are collected, saved and verified.
Back then, the project was led in partnership with Blis and investors Endeit and Beringea.
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