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PepsiCo launches US$1bn bond to fund sustainability initiatives

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US snack and drinks giant PepsiCo has announced a US$1bn "green bond" to fund its sustainability programme.

PepsiCo will fund its green initiatives with the US$1bn bond

PepsiCo will fund its green initiatives with the US$1bn bond

The proceeds from the bond offering will go towards the Pepsi and Tropicana owner's green agenda.

The company also revealed the appointment of Simon Lowden as its first chief sustainability officer. In the new role he will be responsible for leading PepsiCo's sustainability office, including the global sustainable plastics team and global sustainable operations team.

Lowden has worked for the company for 23 years, most recently as president of the global foods group. He has also led PepsiCo's plastics council for the last year.

Ramon Laguarta, PepsiCo CEO, said: "PepsiCo is deeply committed to using our scale for good and advancing the purpose behind our sustainability agenda: to help build a more sustainable food system.

"Issuing a bond focused on environmental sustainability reflects our deep commitment to the priorities laid out in our recent sustainability report and represents another step in our plan to become a faster, stronger, better company. As chief sustainability officer, Simon will play a critical role in this effort."

Lowden said: "I am proud PepsiCo has issued its first green bond to address global challenges like carbon emissions, access to clean water, and plastic waste, and that the company continues to be a leader in tackling critical sustainability issues.

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