PepsiCo today announced a new target to source 100% renewable electricity across all of its company owned and controlled operations globally by 2030 and across its entire franchise and third-party operations by 2040.
With PepsiCo’s scale, the transition has the potential to reduce approximately 2.5 million metric tons of greenhouse gas (GHG) emissions by 2040, the equivalent of taking more than half a million cars off the road for a full year.
This announcement builds upon the company’s global efforts to increase its use of renewable energy sources and its transition to renewable electricity in the U.S., its largest market, announced earlier this year.
Early this year, PepsiCo signed the Business Ambition for 1.5°C pledge, joining other leading companies in committing to set science-based emissions reduction targets in line with limiting global warming to 1.5°C, while also developing a long-term strategy for achieving net-zero emissions by 2050.
PepsiCo currently procures renewable electricity in 18 countries, nine of which already meet 100% of their electricity demand from renewable sources. With the shift to renewable electricity in the U.S. underway this year, PepsiCo is currently on track to source 56% of its electricity through renewable sources globally by the end of 2020.
With this announcement, PepsiCo joins RE100, an initiative led by the Climate Group in partnership with CDP, to bring together the world’s most influential companies committed to 100% renewable electricity.
To achieve 100% renewable electricity globally, PepsiCo will employ a diversified portfolio of solutions, including Power Purchase Agreements (PPAs) that will support the development of new projects such as solar and wind farms around the world, as well as through purchased energy certificates that will enable the near-term transition to renewable sources in many geographies.