PepsiCo has announced a $216 million (€200 million) multi-year investment in long-term, strategic partnership agreements with three farmer-facing organisations – Practical Farmers of Iowa (PFI), Soil and Water Outcomes Fund (SWOF), and the IL Corn Growers Association (ICGA) – to drive adoption of regenerative agriculture practices across the United States.
The American multinational says it will work alongside these organisations to establish and scale financial, agronomic, and social programmes that enable the transition to regenerative agriculture practices through education, upfront investment in outcomes, peer coaching and networking, and cost-sharing.
'Three Strategic Partnerships'
PepsiCo claims the combined impact of these three strategic partnerships is expected to support the accelerated uptake of regenerative practices on more than three million acres and deliver approximately three million metric tonnes of greenhouse gas (GHG) emission reductions and removals by 2030.
Through these partnerships, by 2030, PepsiCo is targeting to work with PFI to reach approximately 1.5 million acres; SWOF to reach nearly 1 million acres; and the ICGA to reach approximately 600,000 acres.
Based on progress to date, PepsiCo claims these collaborative efforts are expected to deliver more than 500,000 regenerative acres by the end of 2023.
'Threat To Food Systems'
"As the climate crisis continues to escalate, the threat to our food system increases as well," said Jim Andrew, chief sustainability officer, PepsiCo.
"It's critically important to partner, for the long term, with organisations that have earned the trust of farmers as they make the transition to adopt climate-smart agriculture practices. We intend to be shoulder-to-shoulder with farmers as they work to make soil healthier, sequester carbon, improve watershed health and biodiversity, and improve their livelihoods."
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© 2023 European Supermarket Magazine – your source for the latest supply chain news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.