Commercial, Energy Efficiency, Sourcing Renewables - October 16, 2019
PepsiCo issues $1 billion Green Bond
PepsiCo Inc. announced Oct. 16 a $1 billion Green Bond that will fund a series of sustainability initiatives.
This marks the company’s first-ever Green Bond. In September, PepsiCo released its 2018 sustainability report, which includes a list of categories that will be eligible for the use of the Green Bond proceeds.
The food and beverage manufacturer set a goal to reduce absolute greenhouse gas emissions across its value chain by 20% from 2015 to 2030. The proceeds from the Green Bond will fund energy efficiency projects, the implementation of electric vehicles and the education of farmers on ways to improve soil health.
Other sustainability projects that the Green Bond will fund include supporting water-use efficiency and funding projects that purchase compostable, biodegradable and recyclable material for use in product packaging.
“PepsiCo is deeply committed to using our scale for good and advancing the purpose behind our sustainability agenda: to help build a more sustainable food system,” Ramon Laguarta, PepsiCo Chairman and CEO, said in a statement. “Issuing a bond focused on environmental sustainability reflects our deep commitment to the priorities laid out in our recent Sustainability Report and represents another step in our plan to become a faster, stronger, better company.”