Walmart and PepsiCo to invest $120 million in sustainable farming
A discount giant and leading CPG company are launching a seven-year collaboration to help U.S. and Canadian farmers.
By establishing and scaling financial, agronomic and social programs that promote adoption of regenerative agriculture practices on more than 2 million acres of farmland, the companies aim to improve soil health and water quality, as well as deliver approximately 4 million metric tons of greenhouse gas (GHG) emission reductions and removals by 2030.
In September 2020, Walmart announced a new commitment to becoming a regenerative company - an organization that works to restore, renew and replenish in addition to preserving the planet. As part of its regenerative goals, Walmart has committed to sustainably sourcing at least 20 key commodities by 2025.
Walmart’s regenerative goals include reaching zero emissions in global operations and committing to help protect, manage or restore at least 50 million acres of land and 1 million square miles of ocean by 2030. In 2021, Walmart released a new set of sustainable best practices for farming row crops in its supply chain.
Through innovations in energy and transportation, Walmart seeks to power 100% of its global operations with renewable sources of energy by 2035 and achieve an overall goal of zero emissions across global operations by 2040.
The collaboration between Walmart and PepsiCo is designed to offer farmers a voluntary, flexible approach to regenerative agriculture.
"At Walmart, our sustainability strategy is built to make the everyday choice the sustainable choice for our customers.,” said Jane Ewing, senior VP for sustainability at Walmart. “This collaboration with PepsiCo is a great example of how we are prioritizing the expansion of regenerative agricultural practices among farmers across North America so that we can continue to make quality products affordable and accessible for customers. This collaboration aims to help elevate farmer livelihoods, engage them on how to more sustainably manage soil health, increase yields and create a model that others can mimic across other product categories, including encouraging additional investments in regenerative agriculture by other brands."
"Successful sustainability starts and ends with trust. At PepsiCo, we work very hard to earn the trust of the farmer so they understand that we are investing in their legacy and they can hand their farm down to the next generation," said Jim Andrew, chief sustainability officer, PepsiCo. "Farmers know their business better than anyone else, and what we hear from them is that for regenerative agriculture to make business sense, three things need to happen. They need economic support, social and cultural support, and agronomic support. This strategic collaboration with Walmart will advance our shared goal to have farmers' backs as they as they transform farming in a way that benefits the planet and people."