PepsiCo Inc. on Monday announced a target to source 100 percent renewable electricity. The company’s sourced electricity will be utilized to run operations across all the company’s owned and run operations nationwide. This project is expected to be accomplished by 2030 and overall utilization in the company’s franchise and third party by 2040. In making the decision, the company, this project will be able to decrease nearly 2.5 million metric tons of greenhouse gas (CHG) releases by 2040.
This announcement comes when the company has been putting effort in the increment in its utilization of green energy sources and its changeover to green power in the United States, which is its leading market. According to Jim Andrew, who is the Chief Sustainability Officer at PepsiCo, there is a need for fast action to curb the devastating effects of climate change that are being experienced worldwide.
PepsiCo was able to sign the Business Ambition for 1.5 degrees Centigrade early this year, entering the ranks of other prominent establishments in committing to enroll science-based releases decrease target by limiting global warming by 1.5 degrees centigrade. This is projected to be undertaken together to develop a continuing policy for attaining net nil discharges by 2050. PepsiCo has been able to make substantial steps to reduce greenhouse gas emissions through its entire value chain. This has been achieved by the company teaming up with agronomists to device carbon proficient practices via its international Sustainable Farming Program to running one of the biggest electrical flotillas in North America.
At now, PepsiCo sources for green energy in 18 nations, and nine of these countries have by now met the 100% of their mandate in electricity from renewable sources. With the United States already shifting to renewable electricity this year, PepsiCo is at this time on the path to get 56 percent of its energy via renewable sources universally by late 2020.
With the declaration to switch to 100% renewable electricity, PepsiCo has joined RE100, which is an enterprise headed by the Climate Group in conjunction with CDP. The initiative aims to bring together the most influential companies in the world that are committed to using 100 percent renewable electricity. To attain 100 percent renewable electricity globally, PepsiCo will be needed to use an expanded portfolio of solutions that will include Power Purchase Agreements (PPAs). The PPAs will be able to offer support in the development of new renewable electricity generating projects.