LAHORE: PepsiCo would invest Rs160 million on a groundwater replenishment project under a Memorandum of Understanding signed with WWF-Pakistan, a statement said on Friday.According to the MoU, the...
LAHORE: PepsiCo would invest Rs160 million on a groundwater replenishment project under a Memorandum of Understanding (MoU) signed with WWF-Pakistan, a statement said on Friday.
According to the MoU, the investment would be made in a community water stewardship project with the aim for groundwater replenishment of 343 million liters at local watersheds near their food manufacturing plants by 2023. The project launch was announced during the climate week.
Further, the company has pledged to replenish more water than it uses in its operations through numerous initiatives including rainwater harvesting, floating treatment wetlands, and agricultural water-usage efficiency improvement.
The signing of this MoU recognises water conservation and replenishment is critical for tackling climate change-related water scarcity in Pakistan. The collaboration on water stewardship is attached with the company’s global ambition for becoming net water-positive by 2030 in high water-risk sites.
The project will also raise awareness among local communities on rainwater conservation, re-usability of conserved water for secondary purposes, and groundwater replenishment.
Speaking on the MoU signing ceremony, Director Sales PepsiCo Pakistan Mohammad Khosa said the water scarcity was correlated with the escalating climate crisis and the company had doubled its commitments to tackle climate change through water stewardship in the operations.
‘Water stewardship is a top priority for company in water-stressed Pakistan to support our government in developing and managing the water sector for optimal use and community benefit,” he observed.