PURCHASE, N.Y., Oct. 13, 2020 /PRNewswire/ -- PepsiCo, Inc.
(NASDAQ:PEP) today released its 2020 Green Bond Report which
provides an update on the allocation of the use of net proceeds
from its first ever Green Bond, issued in October 2019 for $1
billion. As disclosed at issuance, the Green Bond's net
proceeds are to be allocated to investments where PepsiCo believes
it can make a lasting impact on priorities within its
sustainability agenda, including packaging, decarbonization and
water, while advancing several of the UN's Sustainable Development
Goals. PepsiCo was one of the first corporations in the food and
beverage industry to issue a Green Bond.
"We are focused on accelerating our momentum to further align
business and purpose, and are proud of the progress we've made
towards building and investing in a more sustainable future," said
Jim Andrew, Chief Sustainability
Officer, PepsiCo. "The Green Bond is one of the many tools we're
using to advance critical steps in our sustainability journey, and
it is a significant catalyst for continued progress. Ultimately,
that's what PepsiCo's Green Bond is all about: action."
As of December 31, 2019,
$447 million of the net proceeds from
the Green Bond have been allocated, highlights from these
allocations include:
- Approximately $200 million to
procure recycled polyethylene terephthalate (rPET) plastic for the
Company's North American beverage packaging, avoiding approximately
210,000 metric tons of greenhouse gas emissions;
- More than $110 million to help
transition the company-owned fleet to lower-carbon
models;
- $98 million to build a green
R&D facility in Valhalla, New
York, featuring 681 solar panels, among other innovations;
and
- $9 million to improve water-use
efficiency in the Company's plants, including a project at a
PepsiCo snack plant in Vallejo, Mexico, a high-water-risk location, which
implemented new water treatment technologies resulting in 70% water
reuse rates.
Media assets are available for download at:
www.pepsico.com/news/media-resources/media-downloads
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 $67 billion in net revenue in 2019, 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
23 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 the impact of the spread of COVID-19; future
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; water scarcity; 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 the e-commerce channel and hard
discounters; climate change, or legal, regulatory or market
measures to address climate change; 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