PepsiCo announced today the closing of a new $1.25 billion 10-year Green Bond. The Company says it will use an amount equivalent to the net proceeds from the offering to fund Eligible Green Projects which will focus on its pep+ (PepsiCo Positive) agenda – the Company’s strategic, end-to-end transformation that places sustainability and human capital at the center of how it will create growth and value.
Investments under PepsiCo’s new Green Bond will focus on investments to deliver key environmental sustainability initiatives under two pillars of its pep+ agenda: Positive Agriculture and Positive Value Chain. This will help the company deliver on its aim to operate within planetary boundaries and inspire positive change for the planet and people.
“We were one of the first food and beverage corporations to issue a Green Bond and that initial funding has played a critical role in our sustainable transformation so far,” stated Jim Andrew, Chief Sustainability Officer, PepsiCo.
“While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new Green Bond will be pivotal to channeling investment into the critical areas required to build a more sustainable and resilient food system.”
PepsiCo’s business starts with agriculture, the company says, sourcing more than 25 crops and ingredients from more than 30 countries. As part of its Positive Agriculture pillar of pep+, PepsiCo is working to source key ingredient crops such as potatoes, whole corn and oats in a way that accelerates regenerative agriculture.
Investments from the new Green Bond can be used to adopt regenerative agriculture practices across PepsiCo’s supply chain, including towards farmer training, practices to reduce fertilizer and watershed enhancement and improvement projects.
Source: PepsiCo, Inc. Read the full press release here