Global food and beverage company PepsiCo has set a new target to source 100% renewable electricity to power its operations globally by 2030.

With this initiative, the company aims to offset nearly 2.5 million metric tonnes of greenhouse gas (GHG) emissions by 2040.

PepsiCo chief sustainability officer Jim Andrew said: “With the devastating effects of climate change being felt around the world, and the global food system under significant strain, accelerated action is needed.

“We know the responsibility that comes with our size and scale, so transitioning PepsiCo’s global business operations to 100% renewable electricity is the right step forward to deliver meaningful impact as we continue to advance our sustainability agenda.”

The company also set a target to source 100% renewable electricity for its entire franchise and third-party operations by 2040.

The initiative is part of its efforts to increase the use of renewable energy sources and its transition to renewable electricity in the US.

With this announcement, PepsiCo joined RE100 an initiative led by the Climate Group in partnership with CDP that aims to encourage some of the major companies across the globe to incorporate 100% renewable electricity in their operations.

Climate Group RE100 head Sam Kimmins said: “By transforming their global business operations to renewable electricity, PepsiCo is demonstrating a strong commitment to combat climate change, whilst underlining the business case for renewables.

“By investing in the development of new solar and wind farms around the world to meet their target, PepsiCo is making a really tangible contribution to accelerating the clean energy transition.”

Early this year, PepsiCo also signed the Business Ambition for 1.5°C pledge to set science-based emissions reduction targets in line with limiting global warming to 1.5°C.