PepsiCo has announced the closing of a new $1.25 billion ten-year green bond, as it looks to accelerate its pep+ (PepsiCo Positive) agenda.
The company will use an amount equivalent to the net proceeds from the offering to fund green projects that focus on two pillars of its pep+ agenda: ‘positive agriculture’ and ‘positive value chain’.
The new green bond is PepsiCo’s second since 2019, and $858 million in equivalent proceeds from the first are already allocated to eligible green projects across six continents.
“We were one of the first food and beverage corporations to issue a green bond and that initial funding has played a critical role in our sustainable transformation so far,” said Jim Andrew, chief sustainability officer at PepsiCo.
“While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new green bond will be pivotal to channelling investment into the critical areas required to build a more sustainable and resilient food system.”
© FoodBev Media Ltd 2023