PepsiCo US$1 billion Green Bond to fund sustainability initiatives
PepsiCo has announced its first ever Green Bond priced at US$1 billion will fund its key sustainability initiatives.
Simon Lowden has been assigned as the company’s first chief sustainability officer, effective immediately. Apart from leading the Sustainability Office, he will also oversee the Global Sustainable Plastics team and Global Sustainable Operations team.
PepsiCo’s 2018 Sustainability Report highlighted six priorities, including agriculture, water, packaging, products, climate and people, which will be supported through the Green Bond.
“I am proud PepsiCo has issued its first Green Bond to address global challenges like carbon emissions, access to clean water, and plastic waste, and that the company continues to be a leader in tackling critical sustainability issues,” said Lowden. “This offering reflects our commitment to Winning with Purpose and being part of global solutions by further integrating sustainability into our business and our brands. I look forward to working with our many stakeholders around the world—including communities, consumers, customers, governments and NGOs—to advance this vital agenda.”
Ramon Laguarta, PepsiCo chairman and CEO said that issuing a bond focused on environmental sustainability reflects the company’s plan to become “faster, stronger, better”.
“As chief sustainability officer, Simon will play a critical role in this effort, and I am thrilled he has agreed to take on such an important responsibility,” he said