PepsiCo creates renewable programme for value chain partners

PepsiCo (NASDAQ:PEP) has tied corporate renewable purchasing consultant Schneider Electric SE (EPA:SU) in a programme that will increase access to renewable power for the soft drink giant’s value chain partners.

The US beverage and food company said on Wednesday that the new programme, called pep+ REnew, is a step supporting its goal to achieve net-zero emissions by 2040. An interim goal for PepsiCo is to reduce absolute carbon emissions by 40% by 2030.

"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," said Jim Andrew, chief sustainability officer at PepsiCo.

The new initiative aims to educate PepsiCo's value chain partners about their renewable electricity choices and facilitate the signing of aggregate power purchase agreements (PPAs) and other renewable electricity procurement contracts. The soft drink maker said it intends to have the first group of corporate buyers prepared for an aggregate PPA by the end of this year.

PepsiCo aims to use 100% renewable electricity in its direct operations by 2030. Already, 15 of its markets have switched to renewable electricity, including its two largest ones – the US and Mexico.

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