- Net proceeds will fund a series of key initiatives to advance PepsiCo's sustainability agenda.
- The company outlined six priority areas where the company believes it can make the best contribution.
- Named the first Chief Sustainability Officer to advance a more sustainable food system.
New York — PepsiCo has priced it’s first-ever Green Bond. The net proceeds from the US$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. “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. “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—to advance this vital agenda.”