Purchase-headquartered PepsiCo (NASDAQ) is partnering with Walmart (NYSE:WMT) on a seven-year collaboration to pursue $120 million worth of investments focused on supporting U.S. and Canadian farmers in their pursuit of improved soil and water quality.
The agricultural supply chain for the two companies stretches across North America and involves a large volume of critical crops ”“ including potatoes, oats, corn, wheat, soybeans and rice.
Through the partnership ”“ which will establish financial, agronomic and social programs ”“ the companies seek to expand regenerative agriculture practices on more than 2 million acres of farmland and deliver approximately 4 million metric tons of greenhouse gas (GHG) emission reductions and removals by 2030.
“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 at PepsiCo.
“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,” said Jane Ewing, senior vice president for sustainability at Walmart.
