Walmart and PepsiCo have partnered for a new initiative focused on supporting U.S. and Canadian farmers’ pursuit to improve soil health and water quality.
The consumer goods company and retailer have formed a seven-year collaboration that seeks $120 million in investments to establish financial, agronomic, and social programs to enable and accelerate the adoption of regenerative agriculture practices on more than 2 million acres of farmland. The collaboration is expected to deliver about 4 million metric tons of greenhouse gas (GHG) emission reductions and removals by 2030.
“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,” said Jane Ewing, SVP for sustainability at Walmart. “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."
See also: Walmart Puts Indoor Farming Investment To Use, Sources Produce from Newly-Opened Vertical Farm
The PepsiCo and Walmart collaboration intends to recognize the diversity of agriculture and dependence on farmers to grow ingredients for their products. The companies said they’re providing farmers the chance to insert their input on how sustainability will function in their vast supply chain.
"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,” said Jim Andrew, Chief Sustainability Officer, PepsiCo, in a statement. “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 transform farming in a way that benefits the planet and people."
The reconstruction of PepsiCo’s food systems aligns with their Pep+ (PepsiCo Positive) goals, which include driving the adoption of regenerative agriculture practices across 7 million acres and reducing absolute GHG emissions by more than 40% across its entire value chain by 2030.
This was originally published on CGT, an RIS News sister publication.