In a bid to bolster access to renewable electricity across its value chain, PepsiCo and Schneider Electric have launched pep+ REnew as part of PepsiCo’s pep+ (PepsiCo Positive) transformation program. The initiative will help companies achieve net-zero emissions by 2040.

By collaborating, the companies will advance the adoption of renewable electricity to ensure a carbon-efficient food system.

pep+ REnew is designed to educate PepsiCo’s value chain partners about their renewable electricity choices and speeds up the transition through aggregate power purchase agreements (PPA) and other renewable electricity procurement options.

“Net-zero cannot happen without our value chain partners taking bold climate action. Through pep+ REnew, we will encourage our partners to reduce their Scope 2 emissions through renewable electricity procurement, helping us meet our own Scope 3 goals,” says Jim Andrew, chief sustainability officer, PepsiCo. 

In addition, PepsiCo Europe plans to eliminate virgin fossil-based plastic in all of its chip bags by 2030. The company proposes using 100% recycled or renewable plastic instead. The transition will apply to brands including Walkers, Doritos and Lay’s.

Food system powered by renewable electricity
The collaboration aims to accelerate the adoption of renewable electricity and create a more resilient and carbon-efficient food system.

The pep+ REnew program was launched to assist small and medium businesses with renewable electricity challenges.Schneider Electric has advised companies, including PepsiCo, on over 150 utility-scale PPA purchases across North America, Europe, India, Australia and Latin America for more than 11,000 megawatts of wind and solar power.

Fifteen of the company’s markets have transitioned to renewable electricity, including the US and Mexico. 

The pep+ REnew program was launched to help overcome the challenges many small and medium businesses face when participating in the renewable electricity market. Some organizations are not large enough to participate independently and may need education on the mechanics of renewable electricity transactions or guidance to navigate the complexities of a PPA.

“By creating greater access to large-scale renewable electricity, our partnership aspires to add more renewable electricity capacity to power grids worldwide. This is a much-needed step as we work toward a net-zero economy,” says Steve Wilhite, president, Schneider Electric sustainability business.

For the first pep+ REnew cohort, PepsiCo is inviting a broad array of value chain partners to apply to participate in the program, with the goal to finalize a first buyer’s cohort for an aggregate PPA by the end of 2022. 

Schneider Electric will facilitate a multi-phase education and project selection process to advance supplier progress toward aggregated renewable electricity purchases. Schneider’s NEO Network will power the program.