PepsiCo and Schneider Electric Accelerate Renewable Energy Adoption Among Value Chain Partners

Pep+ REnew is the first value chain partner initiative of its kind in the food and beverage industry. We are excited to introduce you to this groundbreaking program.

PepsiCo announces pep+ REnew, a collaboration with Schneider Electric, the leading global consultant on corporate renewable purchasing, as one of the first of its kind, and the first in the food and beverage industry, to increase value chain partner access to renewable electricity as part of the company's goal to achieve net-zero emissions by 2040.

As part of PepsiCo's pep+ (PepsiCo Positive) transformation, the collaboration aims to accelerate the adoption of renewable electricity and create a more resilient and carbon-efficient food system. PepsiCo's value chain partners will be educated about their renewable electricity options, and the transition to renewable electricity will be accelerated through aggregate power purchase agreements (PPAs) and other renewable electricity procurement options.

"The creation of pep+ REnew directly supports our ambitious goal of achieving net-zero emissions across our value chain by 2040 - a decade earlier than the Paris Agreement requires,"

said Jim Andrew, PepsiCo's Chief Sustainability Officer.

"Net-zero cannot be achieved unless our value chain partners take bold climate action. Through pep+ REnew, we will encourage our partners to reduce their Scope 2 emissions by procuring renewable electricity, thereby assisting us in meeting our own Scope 3 targets." 1

This program was created to assist small and medium-sized businesses in overcoming the obstacles that many face when attempting to participate in the renewable energy market. Some organizations may be too small to participate on their own and may require education on the specific mechanics of renewable energy transactions or guidance to navigate the complexities of a PPA. PepsiCo and Schneider Electric hope to overcome these obstacles with pep+ REnew.

PepsiCo is inviting a diverse range of value chain partners to apply for the first pep+ REnew cohort, with the goal of finalizing a first buyer's cohort for an aggregate PPA by the end of 2022.

"Our partnership with PepsiCo aims to add more renewable electricity capacity to power grids around the world by increasing access to large-scale renewable electricity,"

said Steve Wilhite, President, Schneider Electric Sustainability Business.

"This is a critical step toward a net-zero economy and a more sustainable future for all."

Schneider Electric has advised companies such as PepsiCo on over 150 utility-scale PPA purchases totaling more than 11,000 megawatts of wind and solar power across North America, Europe, India, Australia, and Latin America. Schneider Electric's team of leading renewable energy experts will lead a multi-phase education and project selection process to move suppliers closer to aggregated renewable energy purchases. Schneider's NEO NetworkTM, a global collaboration platform and community designed to accelerate renewable electricity decision-making and decarbonization, will power the program.

pep+ is the company's end-to-end strategic transformation, with sustainability and human capital at the heart of how it will create growth and value while operating within planetary boundaries and inspiring positive change for the planet and people. Fifteen of the company's markets have already transitioned to renewable electricity, including the company's first and second largest markets, the United States and Mexico, as it works toward its goal of 100% renewable electricity in direct operations by 2030.

PepsiCo partners can learn more about pep+ REnew and the company's available climate resources at the Sustainability Action Center.

Source: Pepsico newsroom