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PepsiCo doubles down on climate goal
published : 15 Jan 2021 at 19:00
Pledges net-zero emissions by 2040
PepsiCo, Inc. has announced plans to more than double its science-based climate goal, targeting a reduction of absolute greenhouse gas (GHG) emissions across its value chain by more than 40% by 2030. In addition, the company has pledged to achieve net-zero emissions by 2040, one decade earlier than called for in the Paris Agreement.
Specifically, PepsiCo plans to reduce absolute GHG emissions across its direct operations (Scope 1 and 2) by 75% and its indirect value chain (Scope 3) by 40% by 2030 (2015 baseline). This action is expected to result in the reduction of more than 26 million metric tons of GHG emissions or the equivalent of taking
PepsiCo is targeting a reduction of absolute greenhouse gas (GHG) emissions across its value chain by more than 40% by 2030. It is aiming for net-zero emissions by 2040.
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The incoming Biden administration has set an ambitious target of carbon-free power production in the U.S. by 2035. Achieving this lofty goal will require a step-change in how this country plans and makes investments to modernize the nation’s electric grid. With the right policies in place, the clean energy economy also could be the cornerstone of the U.S. economic recovery.
The electricity sector, which will underpin the transition to a clean energy economy, is broken down into wholesale and retail electricity transactions. The former sells power between generators and electricity providers, and the latter between electricity providers and customers. Wholesale electricity markets facilitate competition between independent power producers and non-utility generators to generate power and are a critical path to economic benefits for consumers, clean energy integration and an accelerated transition to a zero-carbon future.
Miranda Ballentine has devoted her career to accelerating the role of advanced energy in national security, economic prosperity, and solving climate change. She is currently the CEO of Renewable Energy Buyers Alliance (REBA), a community of large clean energy buyers, energy providers, service providers, and NGOs, who are working together to build a resilient, zero-carbon energy system where every organization has a viable, expedient, and cost-effective pathway to renewable energy. Prior to REBA, Miranda served as Walmart’s Director of Sustainability for Renewable Energy where she led a global team to achieve Walmart’s 100% renewable energy goal. From 2014-2017, Miranda served President Obama as Assistant Secretary of Air Force (Installations, Environment & Energy) where she was responsible for a $9B energy budget and launched an initiative for developing clean, cyber-secure microgrids. She later held positions as CEO of Constant Power and Managing Director of Rocky Moun