An announcement to target to source for 100 percent renewable electricity by PepsiCo Inc. was announced on Monday. 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 its franchise and third party by 2040. With the company’s decision, this project will be able to reduce approximately 2.5 million metric tons of greenhouse gas (CHG) discharges by 2040.
The company has been in the run to increase its utilization of clean energy cradles and also its changeover to clean power in the United States, which is its primary market, and this move made by the company coincides with the run for utilization.
According to the Chief Sustainability Officer at PepsiCo, there is a need for fast action to curb the overwhelming consequences of climate change, which are being experienced worldwide. The company signed the Business Ambition for 1.5 degrees Centigrade early this year, linking with other significant companies in committing to enroll science-based discharges fall target by restraining global warming by 1.5 degrees centigrade. This is projected to be undertaken to develop a long-term strategy for attaining net-zero emissions by 2050.
PepsiCo has been able to take substantial steps in the reduction of greenhouse gas emissions through its entire value chain. This has been achieved by the company working with farmers to device carbon-efficient practices via its global Sustainable Farming Program to running one of the top electric fleets in North America.
At the moment, the company sources for clean power in 18 nations, and nine of these countries have already met 100% of their demand for electricity from renewable sources. With the United States already shifting to clean power this year, PepsiCo is at this time on the path to font 56 percent of its electricity via renewable sources globally by the end of 2020.
The move to shift to 100% renewable electricity, PepsiCo has joined RE100, an enterprise led by the Climate Group in conjunction with CDP. The inventiveness aims to bring together the most influential companies in the world who are committed to the use of 100 percent renewable electricity.
To achieve a hundred percent renewable electricity worldwide, PepsiCo will be required to employ an expanded portfolio of solutions, which will include Power Purchase Agreements (PPAs). The PPAs will be able to offer support in the development of new renewable electricity generating projects.