Commercial, Sourcing Renewables - September 28, 2020
PepsiCo targets 100% RE across all global operations
PepsiCo announced Sept. 21 a new target to source 100% renewable electricity across their owned and controlled operations globally by 2030 and across their entire franchise and third-party operations by 2040.
The beverage company estimates that, given their scale, such a move could eliminate approximately 2.5 million metric tons of greenhouse gas emissions by 2040. This announcement follows a target announced earlier this year by PepsiCo to source 100% renewable electricity in their U.S. operations by the end of 2020.
"With the devastating effects of climate change being felt around the world, and the global food system under significant strain, accelerated action is needed," Jim Andrew, Chief Sustainability Officer at PepsiCo, said in a statement. "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."
At this point, PepsiCo procures renewable electricity in 18 countries, nine of which already meet 100% of their electricity demand from renewable sources. The company is on track to source 56% of their global electricity through renewable electricity by the end of 2020.
To achieve their electricity goals and align themselves with the RE100 initiative, PepsiCo plans to employ a diversified portfolio of PPAs that support new solar and wind farms, purchase additional RECs and continue to expand their on-site wind and solar projects globally.