PepsiCo’s Green Bond to fund sustainability initiatives
PepsiCo Inc., Purchase, N.Y., has priced the company’s first ever Green Bond. The net proceeds from the $1 billion Green Bond offering will fund a series of key initiatives to advance PepsiCo’s sustainability agenda, it says. The company also announced that it has named PepsiCo leader Simon Lowden as its first chief sustainability officer. In this new role, Lowden will be responsible for leading PepsiCo’s Sustainability Office.
“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,” said Ramon Laguarta, PepsiCo chairman and chief executive officer, in a statement. “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.”