Published on 21 Mar 2023 on Benzinga via Yahoo Finance
Pepsi Just Plowed Hundreds Of Millions Of Dollars Into Regenerative Farming: What It Means
PepsiCo Inc (NASDAQ: PEP) will make a $216 million multi-year investment in long-term, strategic partnership agreements with three farmer-facing organizations.The organizations are Practical Farmers of Iowa (PFI), Soil and Water Outcomes Fund (SWOF), and the IL Corn Growers Association (ICGA).The initiative will drive the adoption of regenerative agriculture practices and reduce carbon emissions.Through these partnerships, by 2030, PEP will work with PFI to reach approximately 1.5 million acres, SWOF to reach nearly 1 million acres, and the ICGA to reach 600,000 acres.Based on progress to date, PEP expects the collaborative efforts to deliver more than 500,000 regenerative acres by the end of 2023.PepsiCo's ambitious pep+ targets include driving the adoption of regenerative agriculture practices across 7 million acres – approximately the size of PEP's agricultural footprint – by 2030 and achieving net-zero emissions by 2040.Price Action: PEP shares are trading lower by 0.40% at $176.88 on the last check Tuesday.Photo Via Company