PepsiCo Seeking to Accelerate Clean Energy Adoption by Value Chain Partners

PURCHASE, N.Y. — PepsiCo and Schneider Electric, a leading consultant on corporate purchasing of renewable energy, launched a new initiative Wednesday to increase access to green power for the soft drink giant’s value chain partners.

Earlier this year, the company announced a plan to more than double its science-based climate goal, setting a goal of reducing its greenhouse gas emissions by more than 40% by 2030.

In addition, the company has pledged to achieve net-zero emissions by 2040, one decade earlier than called for in the Paris Agreement.

The new program, called pep+ REnew is the first definitive step toward that new goal. Through it, the company plans to accelerate the adoption of renewable electricity and create a more resilient and carbon-efficient food system.

Pep+ REnew will facilitate this, by first educating PepsiCo’s value chain partners about their renewable electricity choices, and then quicken the transition to renewable electricity through aggregate power purchase agreements and other renewable electricity procurement options.

PepsiCo partners can find more information about pep+ REnew here and learn about the company’s available climate resources at its Sustainability Action Center.

“The creation of pep+ REnew directly supports our ambitious goal to achieve net-zero emissions across our value chain by 2040 — one decade earlier than called for in the Paris Agreement,” said Jim Andrew, PepsiCo’s chief sustainability officer, in a written statement.

“Net-zero cannot happen without our value chain partners taking bold climate action. Through pep+ REnew, we will encourage our partners to reduce their Scope 2 emissions through renewable electricity procurement, helping us meet our own Scope 3 goals,” Andrew added.

This program was launched to help overcome the challenges many small and medium businesses face when trying to participate in the renewable electricity market, the company said in a press release.

Some organizations may not be large enough to participate on their own and may need education on the specific mechanics of renewable electricity transactions or guidance to navigate through the complexities of a PPA.

“By creating greater access to large-scale renewable electricity, our partnership with PepsiCo aspires to add more renewable electricity capacity to power grids around the world,” said Steve Wilhite, president of Schneider Electric sustainability business, in a statement.

“This is a much-needed step as we work towards a net-zero economy and a more sustainable future for all,” Wilhite said.

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