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.
The green bond was led by Morgan Stanley, which launched a dedicated plastics financing platform earlier this year
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