PURCHASE, NY. — PepsiCo, Inc. announced it has achieved its goal of using 100% renewable energy across all operations in Mexico, its second largest market. The announcement comes less than a year after the company reached a similar milestone in the United States, its largest market.
In achieving the goal six months earlier than expected, PepsiCo said it has slashed the equivalent of 110,000 tons of CO2.
“This is a major step in our efforts to become a better, more sustainable company, as this milestone encompasses 20% of our global scope 1 & 2 GHG (greenhouse gas) reduction goals,” said Ramon Laguarta, chairman and chief executive officer of PepsiCo.
Last fall, PepsiCo set a goal to source 100% renewable electricity across all of its company-owned and controlled operations by 2030. The company also is targeting 100% renewable electricity across its entire franchise and third-party operations by 2040.
If the targets are achieved, PepsiCo said it could potentially reduce approximately 2.5 million tonnes of GHG emissions by 2040, the equivalent of taking more than half a million cars off the road for a full year.
To help it achieve its renewable electricity goals, PepsiCo employs various solutions, including Power Purchase Agreements (PPAs) that will support the development of new projects such as solar and wind farms around the world, as well as through purchased energy certificates that will enable the near-term transition to renewable sources in many geographies. The company also said it plans to continue to expand its growing list of onsite wind and solar projects at its facilities around the world.