PepsiCo Issues $1 Billion Green Bond to Fund Key Sustainability Initiatives
PepsiCo has issued the company’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, Simon 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,” says 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.
