Value chain

PepsiCo and Schneider Electric Accelerate Renewable Electricity Adoption Among Value Chain Partners

Introducing pep+ REnew, the first of its kind value chain partnership initiative in the food industry

BUY, NY, March 30, 2022 /PRNewswire/ — Together with Schneider Electric, the world’s leading consultant on renewable energy procurement for businesses, PepsiCo announces peps+ REnew – one of the first collaborations of its kind, and the first in the food and beverage industry – to increase value chain partners’ access to renewable electricity as part of the goal of company to achieve net zero emissions by 2040.

This collaboration aims to accelerate the adoption of renewable electricity and create a more resilient, carbon-efficient food system as part of PepsiCo’s pep+ (PepsiCo Positive) transformation. Specifically, pep+ REnew is designed with two goals: to educate PepsiCo’s value chain partners on their renewable electricity choices and to accelerate the transition to renewable electricity through power purchase agreements ( PPA) and other renewable electricity supply options.

“The creation of pep+ REnew directly supports our ambitious goal of achieving net zero emissions in our value chain by 2040 – a decade ahead of the Paris Agreement,” said Jim Andre, Chief Sustainability Officer, PepsiCo. “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 supply, which will help us meet our own scope 3 targets.”1

This program was launched to help overcome the challenges that many small and medium-sized businesses face when trying to participate in the renewable electricity market. Some organizations may not be large enough to participate on their own and may need training on the specific mechanics of renewable electricity transactions or guidance in navigating the complexities of a PPA. PepsiCo and Schneider Electric aim to solve these obstacles with pep+ REnew.

For the first pep+ REnew cohort, PepsiCo invites a wide range of value chain partners to apply to participate in the program, with the goal of finalizing a first cohort of buyers for a global PPA by the end of 2022.

“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, Schneider Electric Sustainability Business. “This is a much needed step as we work towards a net zero economy and a more sustainable future for all.”

Schneider Electric has advised companies, including PepsiCo, on more than 150 large-scale PPA purchases across North America, Europe, India, Australia and Latin America for a total of more than 11,000 megawatts of wind and solar energy. Schneider Electric’s team of renewable electricity experts will facilitate a multi-phase training and project selection process to advance suppliers’ progress towards aggregated renewable electricity purchases. The program will be powered by Schneider’s NEO Network™, a global collaboration platform and community designed to accelerate decision-making and the decarbonization of renewable electricity.

pep+ is the end-to-end strategic transformation of the business with sustainability and human capital at the center of how it will create growth and value by operating within planetary boundaries and inspiring positive change for the planet and people. Fifteen of the company’s markets have already switched to renewable electricity, including the United States and Mexicothe company’s first and second largest markets – progress towards its goal of 100% renewable electricity in its direct operations by 2030.

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

On PepsiCo

PepsiCo products are enjoyed by consumers more than a billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $79 billion net revenue in 2021, driven by a complementary beverage and convenience food portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that each generate over $1 billion in estimated annual retail sales.

Leading PepsiCo is our vision to be the global leader in convenient food and beverage by winning with PepsiCo Positive (pep+). pep+ is our end-to-end strategic transformation that puts sustainability at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for the planet and people. For more information visit www.pepsico.com.

Media Contact: [email protected]

Caution from PepsiCo
This release contains statements reflecting our beliefs 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 by the inclusion of words such as “objective”, “anticipate”, “believe”, “lead”, “estimate”, “expect”, “goal”, “intend”, “may”, “plan”, “project”, “strategy”, “target” and “will”” or similar statements or variations of these terms and other similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those anticipated in such statements, including the impact of COVID-19; future demand for PepsiCo’s products; damage to PepsiCo’s reputation or goodwill; product recalls or other quality issues or concerns product quality and safety; PepsiCo’s ability to compete effectively; water shortage; changes in the retail landscape or in sales to any key customer; disruption of PepsiCo’s manufacturing or supply chain operations, including increased costs of commodities, packaging, transportation, labor and other inputs; political or social conditions in the markets where PepsiCo’s products are manufactured, produced, distributed or sold; future cyber incidents and other disruptions; climate change or measures to combat climate change; the imposition or proposed imposition of new or increased taxes on PepsiCo’s products; the imposition of limitations on the marketing or sale of PepsiCo’s products; changes in laws and regulations relating to the use or disposal of plastics or other packaging materials; non-compliance with applicable laws and regulations; and potential liabilities and costs arising from litigation, claims, legal or regulatory proceedings, inquiries or investigations. 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 these 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.




1 Scope 2 refers to emissions generated by energy purchased for direct operations, such as any non-renewable electricity purchased from a utility company; Scope 3 refers to emissions generated by suppliers and value chain partners.

SOURCEPepsiCo, Inc.