PepsiCo is targeting to source 100 per cent of its global electricity requirements from renewable sources by 2030.
The company will further require its franchise and third-party partners to achieve the same goal by 2040. PepsiCo says the transition will be able to remove approximately 2.5 million metric tons of greenhouse gas (GHG) emissions by 2040.
“We know the responsibility that comes with our size and scale,” said Jim Andrew, chief sustainability officer at PepsiCo. “Transitioning PepsiCo’s global business operations to 100-per-cent renewable electricity is the right step forward to deliver meaningful impact as we continue to advance our sustainability agenda.”
PepsiCo is now sourcing renewable electricity in 18 countries, nine of which have met the company’s electricity demand. By the end of this year, PepsiCo aims to source 56 per cent of its electricity from renewable sources worldwide .
To achieve its target, the company said it will use a variety of solutions, including Power Purchase Agreements that will support the development of new projects. PepsiCo will also expand its onsite wind and solar projects at facilities globally.