PURCHASE, N.Y., April 2, 2020 /PRNewswire/ -- As efforts
accelerate worldwide to provide relief from the ravages of
COVID-19, PepsiCo, Inc. (NASDAQ: PEP) and The PepsiCo
Foundation today announced a more than $45
million initiative focused on helping people and communities
most affected by this devastating virus. The company is funding
vital support including protective gear for healthcare workers,
testing and screening services, and is already in the process of
distributing more than 50 million nutritious meals to at-risk
populations by supporting food banks and other partners around the
world. PepsiCo is leveraging its own distribution expertise and
investing heavily in partnerships to increase access to nutrition
in response to worldwide COVID-19-related school closures that have
left 1.71 billion students out of school and many deprived of a key
source of nutrition.
"This unprecedented crisis requires all hands on deck, and
companies have a big role to play in directing critical resources
to the most vulnerable," said Ramon
Laguarta, Chairman & CEO PepsiCo. "Food is at the
heart of what PepsiCo does, and we believe the best way we can
support communities during this difficult time is by leveraging our
expertise and capabilities, along with help from our partners, to
bring food to our neighbors who need it most. We're activating our
global resources to do this now and provide other essential relief,
and we will continue to do so as the world unites to tackle
COVID-19."
The company is allocating its $45
million COVID-19 response to support the most hard-hit
communities, including the following investments, which the company
will expand on in coming weeks:
- $15.8 million in North America, which has the most recorded
cases of COVID-19 in the world. PepsiCo's efforts focus primarily
on increasing access to nutrition for out-of-school children in the
U.S.—22 million of whom receive low-cost or free meals via the
country's National School Lunch program every day. The company is
also funding protective gear for healthcare workers in the U.S.,
investing in testing and screening services, and providing
financial support for U.S. restaurant workers who are experiencing
joblessness.
- $7.7 million in Europe where entire countries are on lock-down
and hospitals are over capacity.
The company is concentrating its response on particularly hard-hit
countries including France,
Italy, and Spain to bolster the capacity of local health
and relief systems. Specifically, PepsiCo is funding the
distribution of essential goods including meals, personal
protective equipment, and health transportation. Funding will be
used to support the most vulnerable groups in society, particularly
seniors and children, many of whom are in confinement and
isolation.
- $6.5 million in Latin America to help prepare for the expected
increase in COVID-19 impact by strengthening local food bank
capabilities. Specifically, PepsiCo's food bank support will enable
the stock of key food staples, provision of meals and staff
transportation, and training of food bank staff on methods to
reduce COVID-19 transmission. PepsiCo's nonprofit partnerships will
also provide millions of meals for out-of-school children and their
families.
- $7.2 million in Africa, the Middle
East, and South Asia which
requires a unique response due to its booming populations and
diverse, emerging economies. PepsiCo is investing to scale meal
distribution among the most food insecure populations in
partnership with leading NGOs and to support government-led
responses to local needs.
- $3.3 million in Asia Pacific, Australia, New
Zealand, and China, which
has been living with the devastating effects of COVID-19 longer
than any other part of the world. The company provided early
funding for protective gear for healthcare workers in China, and South
Korea. PepsiCo will also help alleviate hunger among the
most vulnerable people in the
Philippines, Thailand,
Vietnam and Australia including through meal distribution
programs particularly to reach those in rural communities.
The company is also investing in global partnerships that
provide scale solutions. PepsiCo will announce additional programs
over the coming days and weeks to meet hyper-local needs as
COVID-19 continues to spread and community needs expand. And
recognizing that PepsiCo employees around the world also want to
help their communities in this time of crisis, The PepsiCo
Foundation is offering a two-to-one match for all employee
charitable contributions to a group of nonprofits providing
COVID-19 relief globally for the next four weeks, contributing up
to $2 million in support to
nonprofits chosen by employees.
In addition to its direct response, PepsiCo is working closely
with its peers, suppliers, customers and other leading foundations
to identify joint impact investing programs that can expand and
sustain access to critical nutrition resources for families
affected by COVID-19. For more information about PepsiCo's
COVID-19 relief efforts, visit https://pepsi.co/3431Gzh. Media
assets about this work are available for download at
https://pepsi.co/media.
About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion
times a day in more than 200 countries and territories around the
world. PepsiCo generated more than $67
billion in net revenue in 2019, driven by a complementary
food and beverage portfolio that includes Frito-Lay, Gatorade,
Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio
includes a wide range of enjoyable foods and beverages, including
23 brands that generate more than $1
billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in
Convenient Foods and Beverages by Winning with Purpose. "Winning
with Purpose" reflects our ambition to win sustainably in the
marketplace and embed purpose into all aspects of the
business. For more information, visit www.pepsico.com.
About The PepsiCo Foundation
Established in 1962, The PepsiCo Foundation, the philanthropic arm
of PepsiCo, invests in the essential elements of a sustainable food
system with a mission to support thriving communities. Working with
non-profits and experts around the globe, we're focused on helping
alleviate hunger, managing water and waste responsibly and
supporting women as champions of nutrition from farm to family. We
strive for tangible impact in the places where we live and
work—collaborating with industry peers, local and international
organizations, and our employees to affect large-scale change on
the issues that matter to us and are of global importance. Learn
more at www.pepsico.com/sustainability/philanthropy.
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SOURCE PepsiCo Foundation