Nestle reportedly withdraws from methane accord
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
In an internal presentation for its top executives – seen and reported on by the Financial Times – the world’s largest food company said the majority of its popular products don’t meet “a recognised definition of health”.
The Times reported that the assessment applied to about half of Nestle’s overall portfolio – or about half of its near €85bn annual revenue.
Reports point to predictable areas like confectionery, ice cream and pizzas as the problems for Nestle, leading some analysts to suggest an overhaul of the group’s product portfolio and even an exit from mainstream confectionery.
