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    NESN   CH0038863350

NESTL╔ S.A.

(NESN)
  Report
Delayed Swiss Exchange  -  11:30 2022-12-02 am EST
113.00 CHF   -0.63%
12/02NESTLE : Deutsche Bank gives a Neutral rating
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Nestle revamps coffee sustainability plan as climate challenges mount

10/04/2022 | 02:07am EST
Nescafe mugs are pictured at Nestle Research Center in Orbe

LONDON (Reuters) - Food giant Nestle pledged on Tuesday to spend over 1 billion Swiss francs ($1.01 billion) by 2030 on efforts to source coffee sustainably, more than double its previous pledge, as challenges linked to climate change pose particular risks for the bean.

Study after study has shown that by 2050 roughly half the land currently used to grow coffee, especially that of the high quality arabica variety, could be unproductive thanks to rising temperatures, drought and disease.

Multinationals are meanwhile facing increased reputational and legal pressure from consumers and governments alike to clean up their global supply chains in the fight against climate change.

The European Commission has proposed several laws aimed at preventing and, in the case of forced labour, banning the import and use of products linked to environmental and human rights abuses.

Nestle, which has already pledged to source all its coffee sustainably by 2025, said it is now also aiming, by that date, for 20% of its coffee to be grown using 'regenerative' agricultural practices.

These include planting cover crops to protect soil, using organic fertilizers to improve soil fertility and increasing the use of agroforestry and intercropping to preserve biodiversity - all with the aim of halving greenhouse gas emissions by 2030.

The company, in a statement announcing its plan to double spending on sustainable coffee sourcing, said it is "committed to supporting farmers who take on the risks and costs associated with the move to regenerative agriculture", and will provide programmes aimed at helping them improve their income.

A major coffee report published last year said there is little evidence efforts by the world's top coffee roasters and traders to prevent human rights and environmental abuses are having any impact, with most farmers operating at a loss and unable to produce sustainably.

The coffee sector is valued at $200 billion-$250 billion a year at the retail level, according to the report, but producing countries receive less than 10% of that value when exporting beans, and farmers even less than that.

Around 125 million people around the world depend on coffee for their livelihoods, while an estimated 80% of coffee-farming families live at or below the poverty line, according to non-profit organisations Fairtrade and Technoserve.

($1 = 0.9900 Swiss francs)

(Reporting by Maytaal Angel; Editing by Susan Fenton)

By Maytaal Angel


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NESTLÉ S.A. -0.63% 113 Delayed Quote.-11.33%
S&P GSCI COFFEE INDEX -1.90% 125.2214 Real-time Quote.-26.69%
All news about NESTL╔ S.A.
12/02NESTLE : Deutsche Bank gives a Neutral rating
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12/01NESTLE : Buy rating from JP Morgan
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Financials
Sales 2022 95 002 M 101 B 101 B
Net income 2022 11 718 M 12 474 M 12 474 M
Net Debt 2022 42 330 M 45 059 M 45 059 M
P/E ratio 2022 26,4x
Yield 2022 2,63%
Capitalization 312 B 332 B 332 B
EV / Sales 2022 3,73x
EV / Sales 2023 3,58x
Nbr of Employees 276 000
Free-Float 97,9%
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Technical analysis trends NESTL╔ S.A.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 113,00 CHF
Average target price 119,04 CHF
Spread / Average Target 5,34%
EPS Revisions
Managers and Directors
Ulf Mark Schneider Chief Executive Officer & Director
Franšois-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Paul Bulcke Chairman
Stefan Palzer Chief Technology Officer & Executive VP
Magdi Batato Head-Operations & Executive Vice President
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