Walmart and PepsiCo unveiled Wednesday a seven-year collaboration to pursue $120 million worth of investments to support U.S. and Canadian farmers in their pursuit of soil health and water quality improvements. The partnership aims to accelerate regenerative agriculture adoption on more than two million acres of farmland and deliver approximately four million metric tons of greenhouse gas emission reductions and removals by 2030.
“[Regenerative agriculture is] good for farmers, not only because it’s beneficial to the environment and our food quality, but also for the profitability of our businesses,” said Jeff Huffman, owner and operator of Island Farms LLC, in a statement. “If you use less fertilizer and you grow a bigger crop, or if you use less water and can still grow the same size of crop, it strengthens your farm in a way that benefits the bottom line and our environment for generations to come.”
The collaboration between PepsiCo and Walmart offers a voluntary approach to regenerative agriculture that gives farmers a seat at the table and recognizes the diversity of agriculture in addition to its varied needs, according to Walmart.
“At Walmart, our sustainability strategy is built to make the everyday choice the sustainable choice for our customers,” said Jane Ewing, SVP for sustainability at Walmart, in a statement. “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.”
PepsiCo and Walmart have a shared focus on supporting farming communities while improving soil and water health, as well as lowering carbon emissions. PepsiCo hopes that this partnership may help it achieve its goals of facilitating the adoption of regenerative agriculture practices across seven million acres and reducing greenhouse gas emissions by over 40 percent by 2030 compared to a 2015 baseline.
“This effort is a new model for PepsiCo, marking our first, large-scale strategic collaboration focused on sustainable agriculture with a retail partner,” said Steven Williams, CEO of PepsiCo Foods North America, in a statement. “By joining forces with Walmart, we’ll be empowering farmers through education, upfront investment in outcomes, peer coaching, and cost-sharing—and hopefully inspiring others to join us.”
Related: Whole Foods Impact Report Cites Sustainability Progress; Vertical Farming Brand Files for Bankruptcy