PURCHASE, N.Y., Jan. 15, 2020 /PRNewswire/ -- Some of America's
favorite snacks and beverages – from Lay's and SunChips to bubly,
Gatorade and Pepsi – will soon be made using electricity from
renewable sources, such as wind and solar. PepsiCo, Inc.
(NASDAQ:PEP) today announced plans to achieve 100% renewable
electricity for its U.S. direct operations this year. The U.S. is
the food and beverage company's largest market and accounts for
nearly half of its total global electricity consumption.
PepsiCo's efforts in the U.S. build upon its global progress in
switching to renewable electricity around the world. For example,
nine countries in PepsiCo's European direct operations already meet
100% of their electricity demand from renewable sources.
Additionally, in 2018, 76% of the electricity needs of the PepsiCo
Mexico Foods business were delivered via wind energy.
"We have entered a decade that will be critical for the future
of our planet's health," said Ramon
Laguarta, Chairman and Chief Executive Officer, PepsiCo.
"PepsiCo is pursuing 100% renewable electricity in the U.S. because
the severe threat that climate change poses to the world demands
faster and bolder action from all of us."
PepsiCo's shift to renewable electricity in the U.S. this year
is expected to deliver a 20% reduction in company-wide direct
operations (Scopes 1 and 2) greenhouse gas (GHG) emissions relative
to a 2015 baseline. This represents a significant contribution to
the company's goal of reducing absolute GHG emissions across its
global value chain by 20% by 2030 against a 2015 baseline.
"As an industry leader, we have a responsibility to help spur
the use of renewable energy in the U.S., while encouraging the kind
of systemic change that can build a more sustainable food system.
This is another step forward in that journey," said Simon Lowden, Chief Sustainability Officer,
PepsiCo.
To achieve 100% renewable electricity, PepsiCo plans to target a
diversified portfolio of solutions. These include Power Purchase
Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs),
which finance the development of new renewable electricity projects
such as solar and wind farms, as well as renewable energy
certificates (RECs), which are credits certified by independent
third parties that support existing green electricity generation
from renewable sources. In 2020, PepsiCo's portfolio will feature
more RECs, then will gradually move toward PPAs and VPPAs by
2025.
Alongside these measures, PepsiCo continues to expand its onsite
renewable electricity. The company recently installed new solar
panels at its global headquarters in Purchase, N.Y., complementing other solar
energy installations throughout the country. These include
Frito-Lay facilities in Modesto,
CA and Casa Grande, AZ, as
well as PepsiCo beverage facilities in Fresno, CA and Tolleson, AZ, among others.
About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion
times a day in more than 200 countries and territories around the
world. PepsiCo generated more than $64 billion in net
revenue in 2018, driven by a complementary food and beverage
portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker,
and Tropicana. PepsiCo's product portfolio includes a wide range of
enjoyable foods and beverages, including 22 brands that generate
more than $1 billion each in estimated annual retail
sales.
Guiding PepsiCo is our vision to Be the Global Leader in
Convenient Foods and Beverages by Winning with Purpose. "Winning
with Purpose" reflects our ambition to win sustainably in the
marketplace and embed purpose into all aspects of the business. For
more information, visit www.pepsico.com.
Cautionary Statement
This release contains statements reflecting our views about our
future performance that constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are generally identified
through the inclusion of words such as "aim," "anticipate,"
"believe," "drive," "estimate," "expect," "goal," "intend," "may,"
"plan," "project," "strategy," "target" and "will" or similar
statements or variations of such terms and other similar
expressions. Forward-looking statements inherently involve risks
and uncertainties that could cause actual results to differ
materially from those predicted in such statements, including
changes in demand for PepsiCo's products, as a result of changes in
consumer preferences or otherwise; changes in laws related to the
use or disposal of plastics or other packaging of PepsiCo's
products; changes in, or failure to comply with, applicable laws
and regulations; imposition or proposed imposition of new or
increased taxes aimed at PepsiCo's products; imposition of labeling
or warning requirements on PepsiCo's products; PepsiCo's ability to
compete effectively; political conditions, civil unrest or other
developments and risks in the markets where PepsiCo's products are
made, manufactured, distributed or sold; the ability to protect
information systems against, or effectively respond to, a
cybersecurity incident or other disruption; increased costs,
disruption of supply or shortages of raw materials and other
supplies; business disruptions; damage to PepsiCo's reputation or
brand image; loss of, or a significant reduction in sales to, any
key customer; disruption to the retail landscape, including rapid
growth in hard discounters and the e-commerce channel; climate
change or water scarcity, or legal, regulatory or market measures
to address climate change or water scarcity; and other factors that
may adversely affect the price of PepsiCo's publicly traded
securities and financial performance. For additional information on
these and other factors that could cause PepsiCo's actual results
to materially differ from those set forth herein, please see
PepsiCo's filings with the Securities and Exchange Commission,
including its most recent annual report on Form 10-K and subsequent
reports on Forms 10-Q and 8-K. Investors are cautioned not to place
undue reliance on any such forward-looking statements, which speak
only as of the date they are made. PepsiCo undertakes no obligation
to update any forward-looking statements, whether as a result of
new information, future events or otherwise.
Press Contact: pepsicomediarelations@pepsico.com
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SOURCE PepsiCo, Inc.