Solar, Sourcing Renewables, Wind - April 1, 2022
PepsiCo Collaborates to Increase Renewable Electricity Adoption
PepsiCo announces the creation of pep+ REnew, a collaboration to increase value chain partner access to renewable electricity as part of the company's goal to achieve net-zero emissions by 2040.
The collaboration with Schneider Electric aims to accelerate the adoption of renewable electricity and create a more resilient and carbon-efficient food system as part of PepsiCo's pep+ (PepsiCo Positive) transformation.
Pep+ REnew is designed with two goals: to educate PepsiCo's value chain partners about their renewable electricity choices and to increase the transition to renewable electricity through aggregate PPAs and other renewable electricity procurement options.
"The creation of pep+ REnew directly supports our ambitious goal to achieve net-zero emissions across our value chain by 2040 – one decade earlier than called for in the Paris Agreement," said Jim Andrew, Chief Sustainability Officer, PepsiCo, in a statement. "Net zero cannot happen without our value chain partners taking bold climate action. Through pep+ REnew, we will encourage our partners to reduce their Scope 2 emissions through renewable electricity procurement, helping us meet our own Scope 3 goals."
This program was launched to help overcome the challenges many small and medium businesses face when trying to participate in the renewable electricity market.
PepsiCo and Schneider Electric, a global consultant on corporate renewable purchasing, aim to solve these barriers through pep+ REnew. For the first pep+ REnew cohort, PepsiCo is inviting a broad array of value chain partners to apply to participate in the program, with the goal to finalize a first buyer's cohort for an aggregate PPA by the end of 2022.