Mars: Powering Full Value Chain with GoldenPeaks Capital

Mars has signed a Renewable Acceleration contract in Europe, partnering with GoldenPeaks Capital.

This partnership will see the acceleration of its switch to renewable energy across its entire value chain. 

More than 100 new solar projects in Poland will be launched, helping with the country's transition to clean energy.

Decarbonisation strategy

Mars, Incorporated is a family-owned business with a diverse portfolio of pet care products and snacking products.

Producing some of the world's best-loved brands, including Pedigree, Whiskas, Dove, M&Ms and Snickers, the company is dedicated to high quality business.

Mars runs off five principles which dictate its processes:

• Quality
• Responsibility
• Mutuality
• Efficiency
• Freedom

As part of its sustainability initiative, Mars has created its Renewables Acceleration (RAcc) strategy. This is an option allowing large scale buyers to extend their renewables procurement into their value chains. 

This directly supports the development and expansion of renewable generation. 

Mars' value chain electricity use (approximately 6-7 TWh) is roughly triple what the company uses in its own factories, offices and clinics (approximately 2 TWh). 

With RAcc, Mars is actively reducing its Scope 3 emissions, the hardest one to track and manage. 

Now, it is advancing its RAcc strategy, covering its full value chain in its renewable energy strategy, teaming up with GlobalPeaks Capital to ensure sustainability. 

GoldenPeaks Capital is a renewable energy power generation company which specialises in the development, construction and operation of solar power systems.

It takes a holistic approach to its business, bringing together project development, supply chain management, construction and energy sales into one efficient process. 

Adriano Agosti, Founder and Chairman of GoldenPeaks Capital says: “Mars, as a global company with the footprint of a small country, has transformed its global responsibility into an opportunity, driving the process of decarbonisation across its full value chain.

"GoldenPeaks Capital is proud to be a partner and play a role to serve this global purpose."

A sustainable partnership

Through this partnering, Mars is launching more than 100 new solar projects in Poland alone, with what is believed to be the largest multi-buyer renewable energy deal in Central and Eastern Europe. 

The new solar projects will come online in 2027, delivering more than 129MWac of clean energy to Mars, as well as generating approximately 222GWh annually. 

This amount of energy has the capacity to power 100,000 households every year.

Moreover, the clean energy partnership is helping Poland transition from coal-powered energy as well as meeting EU climate goals.

Mars is taking care of its own scope 3 emissions and electricity needs, generating a positive value chain while also tackling direct operations.

Even more value is being added to this partnership, as Mars has also partnered with Cargill, the multinational food corporation. This company has also signed a deal with GoldenPeaks Capital. 

As a result, the solar farms have been able to meet the scale they have, all through collective collaboration for renewable energy.

"I’m delighted to see the momentum we are getting with our Renewable Acceleration program. Building on our recent work with Enel in North America, this next step in Europe clearly demonstrates our vision to make renewables the standard wherever Mars does business," adds Kevin Rabinovitch, Global VP Sustainability at Mars.

"It’s unique and significant that one of our largest suppliers, Cargill, is joining us to accelerate the shift to clean energy for our shared supply chains, benefiting the communities we serve. Climate action must be global to be truly effective, and these partnerships show that scale is possible when we all work together."

Looking ahead

Through its RAcc programme, Mars is accelerating the shift from fossil fuels to clean energy across its entire value chain, significantly decreasing scope emissions. 

Its entire energy use will be in the renewables market, creating more new and more resilient supply chains. 

Mars is tackling its emissions head on with a determined approach to decarbonising its global operations - thanks to its partnership with GlobalPeaks Capital and a partnership earlier this year with Enel. 

It is looking ahead to future agreements and each new contract is expected to help the RAcc programme contribute towards a 10% reduction of Mars' total carbon footprint by 2030.

This programme and its partnerships demonstrates that Mars is taking action to decrease its Scope 3 emissions, with a dedication to building global sustainable supply chains.