Food and drinks company PepsiCo has announced the issuance of a new $1.25 billion (£1bn) green bond.
Funding will be directed towards regenerative agriculture, decarbonisation and climate resilience within its operations and value chain and circular economy and virgin plastic waste reduction.
It is PepsiCo’s second green bond since 2019, with $858 million (£714m) in equivalent proceeds from the $1 billion (£0.83bn) issuance already allocated to eligible green projects.
They include sustainable plastics and packaging, decarbonisation of its operations and supply chain and water sustainability.
Jim Andrew, Chief Sustainability Officer, PepsiCo said: “We were one of the first food and beverage corporations to issue a Green Bond and that initial funding has played a critical role in our sustainable transformation so far.
“While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new Green Bond will be pivotal to channeling investment into the critical areas required to build a more sustainable and resilient food system.”