PURCHASE, NY. — PepsiCo, Inc. has set a goal to source 100% renewable electricity across all of its company-owned and controlled operations by 2030. The company also is targeting 100% renewable electricity across its entire franchise and third-party operations by 2040.

If the targets are achieved, PepsiCo said it could potentially reduce approximately 2.5 million tonnes of greenhouse gas (GHG) emissions by 2040, the equivalent of taking more than half a million cars off the road for a full 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 James P. 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.”

The announcement comes about eight months after PepsiCo unveiled plans to achieve 100% renewable electricity in its US direct operations this year. The United States is PepsiCo’s largest market, accounting for nearly half of its total global electricity consumption.

Also earlier 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. PepsiCo said it 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, 9 of which already meet 100% of their electricity demand from renewable sources. With the shift to renewable electricity in the United States underway this year, PepsiCo said it is currently on track to source 56% of its electricity through renewable sources globally by the end of 2020.

To help it achieve its renewable electricity goals, PepsiCo said it will employ various solutions, including Power Purchase Agreements (PPAs) that will support the development of new projects such as solar and wind farms around the world, as well as through purchased energy certificates that will enable the near-term transition to renewable sources in many geographies. The company also said it plans to continue to expand its growing list of onsite wind and solar projects at its facilities around the world.