October 9 (Renewables Now) - US food and beverage giant PepsiCo Inc (NASDAQ:PEP) has made its debut on the green bond market with a USD-1-billion (EUR 910.2m) issuance, it said on Monday.
The soft drinks producer intends to use funds from the offering to support initiatives in its sustainability programme. The six major priorities in that plan are in the areas of agriculture, water, packaging, products, climate and people.
More specifically, PepsiCo’s inaugural green bond sale will help it finance projects enabling it to decarbonise its operations and supply chain as part of a corporate objective to cut greenhouse gas emissions across its value chain by 20% by 2030 from a 2015 baseline. Suitable projects will be in the areas of energy efficiency and electrified transportation.
Additionally, PepsiCo will use some of the funds in the packaging sector, where it aims to cut virgin plastic content across its beverage portfolio by 35% by 2025, as well as for increasing water-use efficiency.
(USD 1.0 = EUR 0.9102)