PepsiCo has announced plans to achieve 100% renewable electricity for its U.S. direct operations this year. The United States is the food and beverage company’s largest market and accounts for nearly half of its total global electricity consumption.
“We have entered a decade that will be critical for the future of our planet’s health,” said Ramon Laguarta, chairman and CEO, PepsiCo, in a company press release. “PepsiCo is pursuing 100% renewable electricity in the United States because the severe threat that climate change poses to the world demands faster and bolder action from all of us.”
To achieve 100% renewable electricity, PepsiCo plans to target a diversified portfolio of solutions. These include Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs), which finance the development of new renewable electricity projects such as solar and wind farms, as well as renewable energy certificates (RECs), which are credits certified by independent third parties that support existing green electricity generation from renewable sources. In 2020, PepsiCo’s portfolio will feature more RECs, then will gradually move toward PPAs and VPPAs by 2025.
Alongside these measures, PepsiCo continues to expand its onsite renewable electricity. The company recently installed new solar panels at its global headquarters in Purchase, N.Y., complementing other solar energy installations throughout the country.
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