Sector News

PepsiCo announces new $1.25bn ten-year green bond

July 23, 2022
Food & Drink

PepsiCo has announced the closing of a new $1.25 billion ten-year green bond, as it looks to accelerate its pep+ (PepsiCo Positive) agenda.

The company will use an amount equivalent to the net proceeds from the offering to fund green projects that focus on two pillars of its pep+ agenda: ‘positive agriculture’ and ‘positive value chain’.

The new green bond is PepsiCo’s second since 2019, and $858 million in equivalent proceeds from the first are already allocated to eligible green projects across six continents.

“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,” said Jim Andrew, chief sustainability officer at 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 channelling investment into the critical areas required to build a more sustainable and resilient food system.”

By Antonia Garrett Peel

Source: foodbev.com

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