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Pepsi [PEP:US] and Walmart [WMT:US] joined forces in a seven-year collaboration to promote and accelerate regenerative agriculture practices on over 2 million acres (8,100 square kilometers) of farmland in the US and Canada, as reported by ESG Today on July 27. With a planned investment of USD120m, the initiative aims to support farmers in the US and Canadian in enhancing soil health and water quality. The partnership seeks to improve farmers’ livelihoods, enable better soil management, and achieve higher yields in a more sustainable way. By 2030, Pepsi and Walmart aim to achieve around 4 million tons of greenhouse gas (GHG) emission reductions and removals through this initiative.
Regenerative agriculture practices encompasses a variety of techniques that aim to improve and restore ecosystems, enhance soil health and fertility, reduce emissions, promote biodiversity, and improve farmers’ livelihoods. As the largest convenience food and beverage company in North America, Pepsi relies on ingredients sourced from farms. The company has prioritized Positive Agriculture as a significant part of its sustainability agenda introduced in 2021, with the goal of implementing regenerative agriculture practices across its 7 million acres agricultural footprint. The collaboration with Walmart further aligns with Walmart’s sustainability objectives, which include protecting, restoring, or more sustainably managing 50 million acres of land and 1 million square miles of ocean by 2030.
Sources:
https://www.esgtoday.com/walmart-pepsico-to-invest-120-million-in-sustainable-agriculture/
