PepsiCo, Givaudan, Smurfit Westrock, and Statkraft have signed a 10‑year renewable energy deal in Europe that shows how brands and suppliers can decarbonize value chains together at scale.
Through PepsiCo’s pep+ REnew program, the companies have entered a Virtual Power Purchase Agreement tied to a repowered wind asset in Spain, expected to reduce ~32,000 metric tons of CO₂ annually. The project aggregates demand across buyers—unlocking long‑term renewable power access typically reserved for large energy purchasers.
This is pep+ REnew’s first European renewable electricity cohort and a model for how companies can collaborate across value chains to make measurable Scope 3 emissions progress. The deal also stands out for its focus on repowering existing wind infrastructure, increasing clean energy output while minimizing new environmental footprint.
The agreement supports PepsiCo’s SBTi‑validated net‑zero pathway, including updated 2030 Scope 3 targets, and reflects a growing shift toward coalition‑based procurement as a lever for faster decarbonization in hard‑to‑abate sectors.
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