Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé S.A.    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Europe needs laws to stop import of deforestation-linked products, lawmakers say

10/22/2020 | 01:06pm EST
Belgium's newly elected PM De Croo addresses Belgian Parliament

LONDON/BRUSSELS (Reuters) - The European Parliament on Thursday called for the European Union to introduce laws to prevent the import of commodities and products linked to deforestation and human rights abuses.

The move comes as EU politicians face increased pressure from voters to combat climate change, and follows years of failed voluntary efforts by companies to combat deforestation through measures like third-party certification schemes.

Parliament, in a report adopted on Thursday, called on the European Commission to propose mandatory due diligence laws that would force companies to show that products they sell in the EU do not drive global deforestation and violate human rights.  

The rules should apply to all businesses, including banks and investment funds, lawmakers said, with criminal and civil penalties for those that flout the rules.

"Voluntary commitments and opaque certifications are not enough," said EU lawmaker Delara Burkhhardt, who drafted the report.

"We need a European legal framework to prevent products that cause natural degradation and human rights violations from ending up on the European market."

Parliament's report lays the groundwork for EU legislation, due to be proposed by the Commission by next summer, to tackle deforestation-linked products sold in Europe.

If due diligence laws are adopted, companies like Nestle and Danone might have to comply with them as early as 2024, a mammoth and costly task as they could be forced to trace every step in their supply chain, from smallholder farm level onwards.

"Today's vote is a watershed in the battle for the EU to end its role in destroying the world's forests," said forests and rights NGO Fern. "The Commission must follow parliament's lead."

The EU is responsible for over 10% of the deforestation linked to global consumption through its import of commodities such as meat, soy, palm oil and cocoa, and the products containing them, according to Commission data.

Emissions from the land use sector, most of which are caused by deforestation, are the second major cause of climate change after the burning of fossil fuels, the Commission said.

(Editing by Bernadette Baum)

By Maytaal Angel and Kate Abnett


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DANONE S.A -1.17% 52.2 Real-time Quote.-28.53%
NESTLÉ S.A. -0.42% 100.02 Delayed Quote.-4.14%
All news about NESTLÉ S.A.
12/01NESTLE S A : Supreme Court hears arguments from Nestle, Cargill in child slavery..
AQ
11/29Swiss firms narrowly avoid 'Responsible Business' liability as vote divides n..
RE
11/26Business rights or human rights? Swiss vote shines spotlight on companies
RE
11/25NESTLE : Gets a Buy rating from JP Morgan
MD
11/25Nestle Agrees to Sell Yinlu Food Businesses in China
DJ
11/25NESTLE S A : sells Yinlu business in China amid portfolio cleanup
RE
11/25NESTLE S A : sells Yinlu business in China amid portfolio cleanup
RE
11/25NESTLE S A : Nestlé agrees to sell Yinlu peanut milk and canned rice porridge bu..
AQ
11/23Danone to cut jobs, product lines in virus-led restructuring
RE
11/12Nestle Appoints New Head of Strategic Business Units, Marketing and Sales
DJ
More news
Financials
Sales 2020 84 945 M 94 773 M 94 773 M
Net income 2020 11 697 M 13 050 M 13 050 M
Net Debt 2020 30 184 M 33 676 M 33 676 M
P/E ratio 2020 24,8x
Yield 2020 2,71%
Capitalization 280 B 312 B 312 B
EV / Sales 2020 3,65x
EV / Sales 2021 3,62x
Nbr of Employees 291 000
Free-Float 93,5%
Chart NESTLÉ S.A.
Duration : Period :
Nestlé S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NESTLÉ S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 117,02 CHF
Last Close Price 100,44 CHF
Spread / Highest target 29,4%
Spread / Average Target 16,5%
Spread / Lowest Target -6,41%
EPS Revisions
Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Executive Vice President-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
NESTLÉ S.A.-4.14%310 470
MONDELEZ INTERNATIONAL, INC6.14%83 607
DANONE S.A-28.53%41 346
THE KRAFT HEINZ COMPANY3.14%40 518
GENERAL MILLS, INC.13.55%37 481
THE HERSHEY COMPANY0.62%31 230