PepsiCo and Walmart are collaborating on a seven-year US$120 million investment to support Canadian and American farmers to improve soil health and water quality, a July 26 news release said. The companies predict this investment will enable and accelerate the adoption of regenerative agriculture practices on more than two million acres of farmland.
“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. 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,” Jim Andrew, chief sustainability officer for PepsiCo, said in the release.
The release noted the companies’ businesses are dependent on farmers to grow ingredients that are used to make products that consumers enjoy every day. With a supply chain for the two companies that stretches across North America and involves a large volume of critical crops – including potatoes, oats, corn, wheat, soybean and rice – sustainability will look different from commodity to commodity, region to region, and even farm to farm.
“The collaboration between PepsiCo and Walmart offers a voluntary, flexible approach to regenerative agriculture that gives farmers a seat at the table, recognizes the diversity of agriculture and that one size does not fit all,” the release said.