(Reuters) – Unilever Plc (L:ULVR) said on Wednesday it would invest 1 billion euros to eliminate fossil fuels from its cleaning products by 2030, cutting down on carbon emissions created by the chemicals used in making the products.
The household goods conglomerate behind the Omo, Cif, Sunlight and Domestos brands said that, instead of petrochemicals, the products would substitute constituents created from plants and other biological sources, marine sources such as algae and waste materials.
Chemicals used in its cleaning and laundry products make up 46% of the company’s Home Care division’s carbon emissions across their lifecyle, and the switch – which Unilever said it is the first company to commit to – will cut those emissions by a fifth. Read more…..
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Jonathan Golub of Credit Suisse and Ed Yardeni of Yardeni Research joins ‘Squawk on the Street’ to discuss the state of the market and their predictions for the unemployment data this week.