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PepsiCo’s second round of projects funded by The PAO Fund
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Friday, 28 October, 2022, 15 : 00 PM [IST]
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Our Bureau, New Delhi
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PepsiCo has announced the continuation of its global agriculture accelerator, the Positive Agriculture Outcomes (PAO) Fund, by granting funding to 14 business projects in India and 10 other countries to address some of the most intractable challenges facing agriculture today.
“We’re in a race to reach the world’s 1.5 degree target and, to do our part, PepsiCo has set a range of ambitious PepsiCo Positive goals, including expanding regenerative agriculture practices and building the resilience of those in our agricultural supply chain by preparing them for a changing climate,” said Rob Meyers, vice president of Global Sustainable Agriculture. “Reaching PepsiCo’s – and our planet’s – goals will require fresh thinking and innovation from our agriculture teams and partners all over the world, which is why the PAO Fund was created to make it a bit easier for good ideas to get off the ground.”
Launched in August 2021, the PAO Fund offers PepsiCo market teams co-investment to accelerate diverse and innovative Positive Agriculture projects. The investments are designed to “de-risk” promising initiatives while accelerating the development of innovative technologies and approaches that can help scale the adoption of regenerative agriculture practices.
In 2022, the PAO Fund is making investments in projects that span a range of commodities, supply chains, time horizons and PepsiCo business units, but all are focused on either testing a new regenerative technology or approach, helping farmers build climate resilience, or developing new sustainable “landscapes” In total, the PAO Fund is providing ongoing support to over 20 different projects around the world through grants totaling more than $7.4 million awarded in 2021 and 2022.
“With support from the PAO Fund, we’ve been able to generate much greater engagement and innovation both at the farm level and through closer collaboration with our global teams,” said Haseeb Malik, senior manager of agriculture APAC, PepsiCo. “This work is not only helping to advance our pep+ goals in the market, but it’s also meaningfully improving the lives of the farmers we’re working with.”
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