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September 22, 2020
PepsiCo Targets 100% Renewable Electricity Globally
• Food and beverage leader joins RE100 initiative with the ambition to achieve 100% renewable electricity globally for direct operations by 2030 and across the entire franchise and third-party functions by 2040
Photo: Illustration of wind turbines. Argonne’s 10 kW wind turbine. A similar design to the ones shown here, is used by Argonne scientists and engineers to study wind energy interaction, electric vehicle charging, and grid technology. Image credit: Argonne National Laboratory.
PURCHASE, N.Y., Sept. 21, 2020 — PepsiCo Inc. today announced a new target to source 100% renewable electricity across all of its company-owned and controlled operations globally by 2030 and its entire franchise and third-party functions by 2040. With PepsiCo’s scale, the transition has the potential to reduce approximately 2.5 million metric tons of greenhouse gas (GHG) emissions by 2040, the equivalent of taking more than half a million cars off the road for a full year. This announcement builds upon the company’s global efforts to increase its use of renewable energy sources and its transition to renewable electricity in the U.S., its largest market, announced earlier this year.
“With the devastating effects of climate change around the world, and the global food system under significant strain, accelerated action is needed,” said Jim Andrew, Chief Sustainability Officer, PepsiCo. “We know the responsibility that comes with our size and scale, so transitioning PepsiCo’s global business operations to 100% renewable electricity is the right step forward to deliver meaningful impact as we continue to advance our sustainability agenda.”
Early this year, PepsiCo signed the Business Ambition for 1.5°C pledge, joining other leading companies in committing to set science-based emissions reduction targets. The company has made significant progress in reducing GHG emissions throughout its value chain - from working with farmers to implement carbon-efficient practices through its global Sustainable Farming Program to operating one of the largest electric fleets in North America.
PepsiCo currently procures renewable electricity in 18 countries, nine of which already meet 100% of their electricity demand from renewable sources. With the shift to renewable electricity in the U.S. underway this year, PepsiCo is currently on track to start 56% of its electricity through renewable sources globally by the end of 2020.
With this announcement, PepsiCo joins RE100, an initiative led by the Climate Group to bring together the world’s most influential companies committed to 100% renewable electricity.
“By transforming their global business operations to renewable electricity, PepsiCo is demonstrating a strong commitment to combat climate change, while underlining the business case for renewables,” said Sam Kimmins, Head of RE100 at The Climate Group. “By investing in the development of new solar and wind farms around the world to meet their target, PepsiCo is making a real tangible contribution to accelerating the clean energy transition.”
To achieve 100% renewable electricity globally, PepsiCo will employ a diversified portfolio of solutions, including Power Purchase Agreements (PPAs). The contracts will support developing new projects such as solar and wind farms worldwide and purchased energy certificates to enable the near-term transition to renewable sources in many geographies. The company will also continue to expand its growing list of onsite wind and solar projects at its facilities around the world. PepsiCo’s global headquarters in Purchase, NY, installed rooftop solar energy panels earlier this year.
Source: PepsiCo, Inc.
|GlobalGiants.Com|
Edited & Posted by the Editor | 9:23 AM | Link to this Post
