PepsiCo has announced that it aims to source 100% renewable electricity across all of its company-owned and -controlled operations globally by 2030.
In addition, the food and beverage giant has established the same target for all of its franchise and third-party operations by 2040.
PepsiCo claims that this transition could reduce greenhouse gas emissions by approximately 2.5 million metric tons by 2040. This would be the equivalent of taking more than half a million cars off the road for a full year.
This latest announcement follows the news that the company plans to transition to 100% renewable electricity for its US direct operations this year.
This shift, in combination with progress underway in other markets, reportedly puts the company on track to source 56% of its electricity through renewable sources by the end of 2020. PepsiCo currently procures renewable electricity in 18 countries, nine of which already meet 100% of their electricity demand from renewable sources.
PepsiCo has also announced that it is joining RE100, a global initiative led by the Climate Group in partnership with CDP, to bring together the world’s most influential businesses committed to 100% renewable electricity.
To achieve the 100% target, PepsiCo says that it will employ a diverse range of solutions, including Power Purchase Agreements (PPAs) that will support the development of new projects such as solar and wind farms. Purchased energy certificates will also play a role in enabling the near-term transition to renewable sources in many locations.
In addition, the company will continue to establish onsite wind and solar projects at its facilities around the world, such as the rooftop solar energy panels installed at PepsiCo’s global headquarters earlier this year.
“With the devastating effects of climate change being felt around the world and the global food system under significant strain, accelerated action is needed,” said Jim Andrew, chief sustainability officer at 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.”
Sam Kimmins, head of RE100 at the Climate Group, added: “By transforming their global business operations to renewable electricity, PepsiCo is demonstrating a strong commitment to combat climate change, whilst underlining the business case for renewables.
“By investing in development of new solar and wind farms around the world to meet their target, PepsiCo is making a really tangible contribution to accelerating the clean energy transition.”
Silviu Popovici, PepsiCo Europe CEO, said: “Climate change won’t wait so we have to step into the challenge. Our businesses in nine European countries are already using 100% renewable electricity.
“PepsiCo in Europe will lead the way on the company’s global commitment to reach 100% renewable electricity. We will achieve this goal by 2022 across Europe.”
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