PepsiCo Prices $1B Green Bond to Fund Sustainability Initiatives

SEATTLE (Waste 360):  PepsiCo Inc. announced it has priced the company's first-ever Green Bond. The net proceeds from the $1 billion Green Bond offering will fund a series of key initiatives to advance PepsiCo's sustainability agenda. The company also announced that it has named PepsiCo leader Simon Lowden as its first chief sustainability officer. In this new role, effective immediately, Lowden will be responsible for leading PepsiCo's Sustainability Office, including the Global Sustainable Plastics team and Global Sustainable Operations team.

"PepsiCo is deeply committed to using our scale for good and advancing the purpose behind our sustainability agenda: to help build a more sustainable food system," said Ramon Laguarta, PepsiCo chairman and CEO, in a statement. "Issuing a bond focused on environmental sustainability reflects our deep commitment to the priorities laid out in our recent Sustainability Report and represents another step in our plan to become a faster, stronger, better company. As chief sustainability officer, Simon will play a critical role in this effort, and I am thrilled he has agreed to take on such an important responsibility."

In September, PepsiCo released its 2018 Sustainability Report, which outlined six priority areas where the company believes it can make the best contribution—agriculture, water, packaging, products, climate and people—along with eight ambitious and measurable goals. 

"I am proud PepsiCo has issued its first Green Bond to address global challenges like carbon emissions, access to clean water and plastic waste, and that the company continues to be a leader in tackling critical sustainability issues," said Lowden in a statement. "This offering reflects our commitment to Winning with Purpose and being part of global solutions by further integrating sustainability into our business and our brands. I look forward to working with our many stakeholders around the world—including communities, consumers, customers, governments and NGOs [nongovernmental organizations]—to advance this vital agenda."

In addition to leading PepsiCo's Plastics Council and spearheading the company's Global Sustainable Plastics agenda for the past year, Lowden has held numerous leadership positions across both Foods and Beverages, in North America and globally, throughout his 23-year career with PepsiCo. He most recently served as president of the Global Foods Group, where he oversaw a period of growth. Before leading the Global Foods Group, Lowden had roles as chief marketing officer (CMO) of North America Beverages and CMO of PepsiCo International.

Courtesy: https://www.waste360.com