PepsiCo prices $1bn green bond to assist with plastics phase-out
PepsiCo has priced its first ever green bond at $1bn, which will be used to fund initiatives to reduce plastic content in packaging, improve supply chain engagement and management and boost water stewardship.
PepsiCo’s $1bn green bond will improve actions on sustainability across numerous areas. Notably, the green bond will assist the company’s new target to reduce the use of virgin plastic across its portfolio by 35% by 2025, which will eliminate around 2.5 million metric tonnes of the material from circulation.
The target, measured against a 2018 baseline, builds on existing goals to make 100% of PepsiCo’s packaging recyclable, compostable, or biodegradable; and increase its use of recycled content in plastics packaging to 25%, agreed as part of the firm’s commitment to the UK Plastics Pact.
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