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PepsiCo Closes $1.25B Bond for Green Projects

by The BCW

In a major boost for environmental sustainability, Purchase-based PepsiCo has announced the closing of a new $1.25 billion 10-year Green Bond. The company said it will use an amount equivalent to the net proceeds from the offering to fund Eligible Green Projects which will focus on its pep+ (PepsiCo Positive) agenda – the company’s strategic, end-to-end transformation that places sustainability and human capital at the center of how it will create growth and value.

PepsiCo, which is a BCW Member, said the new Green Bond will focus on investments to deliver key environmental sustainability initiatives under two pillars of its pep+ agenda: Positive Agriculture and Positive Value Chain. This will help the company deliver on its aim to operate within planetary boundaries and inspire positive change for the planet and people.

“We were one of the first food and beverage corporations to issue a Green Bond and that initial funding has played a critical role in our sustainable transformation so far,” stated Jim Andrew, Chief Sustainability Officer, PepsiCo. “While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new Green Bond will be pivotal to channeling investment into the critical areas required to build a more sustainable and resilient food system.”

The new Green Bond is PepsiCo’s second since 2019, with $858 million in equivalent proceeds from the $1 billion first Green Bond already allocated to Eligible Green Projects across six continents in categories of sustainable plastics and packaging, decarbonization of our operations and supply chain, and water sustainability.

PepsiCo’s new Green Bond Framework outlines the categories where funding can be directed, each one aligning with the UN Sustainable Development Goals (SDGs), which include: regenerative agriculture; decarbonization and climate resilience within its operations and value chain; circular economy and virgin plastic waste reduction; and pursuing net positive water impact in owned operations and throughout PepsiCo’s value chain.

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