PepsiCo announced a new target to source 100% renewable electricity across all of its company owned and controlled operations globally by 2030 and across its entire franchise and third-party operations by 2040. With PepsiCo’s scale, the transition has the potential to reduce approximately 2.5 million metric tons of greenhouse gas (GHG) emissions by 2040, the equivalent of taking more than half a million cars off the road for a full year. This announcement builds upon the company’s global efforts to increase its use of renewable energy sources and its transition to renewable electricity in the U.S., its largest market, announced earlier this year.

“With the devastating effects of climate change being felt around the world, and the global food system under significant strain, accelerated action is needed,” said Jim Andrew, Chief Sustainability Officer, PepsiCo. “We know the responsibility that comes with our size and scale, so transitioning PepsiCo’s global business operations to 100% renewable electricity is the right step forward to deliver meaningful impact as we continue to advance our sustainability agenda.”

Early this year, PepsiCo signed the Business Ambition for 1.5°C pledge, joining other leading companies in committing to set science-based emissions reduction targets in line with limiting global warming to 1.5°C, while also developing a long-term strategy for achieving net-zero emissions by 2050. The company has made significant progress in reducing GHG emissions throughout its value chain – from working with farmers to implement carbon-efficient practices through its global Sustainable Farming Program to operating one of the largest electric fleets in North America.

PepsiCo currently procures renewable electricity in 18 countries, nine of which already meet 100% of their electricity demand from renewable sources.