Funko Inc
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Consumer Discretionary : Distributors | Small Cap Blend
Company profile

Funko, Inc. is a pop culture consumer products company. The Company is engaged in selling a broad range of pop culture consumer products, featuring characters from a range of media and entertainment content, including movies, TV shows, video games, music and sports. Its products fall under figures and other product categories. Its figures category includes figures that celebrate pop culture icons in the form of stylized vinyl, blind-packed miniatures and action figures. It includes brands, such as Pop!, Mystery Minis, and Funko Soda. Its other category is comprised of stylized fashion accessories including bags, backpacks and wallets; apparel; board games; plush products; accessories including keychains, pens and pins; apparel including t-shirts and hats; homewares including drinkware and other home accessories; non-fungible tokens (NFTs) and other. It sells its products through a network of retail customers, including specialty retailers, mass-market retailers, and e-commerce sites.

Postmarket

Last Trade
Delayed
$20.30
0.46 (2.32%)
Bid
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Ask
--
B/A Size
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Market Hours

Closing Price
$19.84
Day's Change
-0.13 (-0.65%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
20.79
Day's Low
19.71
Volume
(Average)
Volume:
681,225

10-day average volume:
726,630
681,225

PEPSICO ISSUES NEW $1.25 BILLION 10-YEAR GREEN BOND AS COMPANY ACCELERATES PEP+ TRANSFORMATION

4:15 pm ET July 20, 2022 (PR Newswire) Print

PepsiCo, Inc. (NASDAQ: PEP) PepsiCo announced the closing of a new $1.25 billion 10-year Green Bond. The Company will use an amount equivalent to the net proceeds from the offering to fund Eligible Green Projects which will focus on its pep+ (PepsiCo Positive) agenda - the Company's strategic, end-to-end transformation that places sustainability and human capital at the center of how it will create growth and value. Investments under PepsiCo's new Green Bond will focus on investments to deliver key environmental sustainability initiatives under two pillars of its pep+ agenda: Positive Agriculture and Positive Value Chain. This will help the company deliver on its aim to operate within planetary boundaries and inspire positive change for the planet and people.

https://mma.prnewswire.com/media/733556/PepsiCo_LOGO.jpg

The new Green Bond is PepsiCo's second since 2019, with $858 million in equivalent proceeds from the $1 billion first Green Bond already allocated to Eligible Green Projects across six continents in categories of sustainable plastics and packaging, decarbonization of our operations and supply chain, and water sustainability.

"We were one of the first food and beverage corporations to issue a Green Bond and that initial funding has played a critical role in our sustainable transformation so far," stated Jim Andrew, Chief Sustainability Officer, PepsiCo. "While tackling the climate crisis requires a collaborative effort, it is clear that the private sector must play a leadership role. Our new Green Bond will be pivotal to channeling investment into the critical areas required to build a more sustainable and resilient food system."

PepsiCo's new Green Bond Framework outlines the categories where funding can be directed, each one aligning with the UN Sustainable Development Goals (SDGs), which include:

-- Regenerative agriculture: PepsiCo's business starts with agriculture, sourcing more than 25 crops and ingredients from more than 30 countries. As part of its Positive Agriculture pillar of pep+, PepsiCo is working to source key ingredient crops such as potatoes, whole corn and oats in a way that accelerates regenerative agriculture. Investments from the new Green Bond can be used to adopt regenerative agriculture practices across PepsiCo's supply chain, including towards farmer training, practices to reduce fertilizer and watershed enhancement and improvement projects.UN SDG Alignment: SDG 2 - Zero hunger and SDG 8 - Decent work and economic growth

-- Decarbonization and climate resilience within our operations and value chain: By 2030, the Company aims to reduce its absolute greenhouse gas (GHG) emissions by more than 40% against a 2015 baseline, more than doubling its previous climate goal. Equivalent net proceeds from the Green Bond may be used for initiatives to further these goals including on-site sustainable energy generation such as solar installations, investments in greener buildings that receive third-party verified certifications, energy efficiency and/or reducing GHG emissions at facilities, and upgrading of vending and cooling equipment. The funding may also be used towards the expansion of cleaner transportation, such as electric vehicles.UN SDG Alignment: SDG 7 - Affordable and Clean Energy, and SDG 11 Sustainable Cities and Communities

-- Circular economy and virgin plastic waste reduction: One of PepsiCo's key pep+ goals is to strive to use 50 percent recycled plastic content in its packaging by 2030. The Company is already one of the largest users of food-grade rPET (recycled PET plastic) in the world, and the new Green Bond will enable PepsiCo to continue its work to increase the use of more sustainable product packaging including recycled, compostable and reusable materials. In addition, PepsiCo's new Green Bond Framework enables the Company to direct funding to projects that strengthen recycling infrastructure and increase recycling rates in key markets.UN SDG Alignment: SDG 9 - Industry, Innovation and Infrastructure, and SDG 12 - Responsible Consumption and Production

-- Pursuing net positive water impact in owned operations and throughout PepsiCo's value chain, including those projects positively contributing to communities. Water stewardship has long been one of PepsiCo's top priorities and PepsiCo has a vision to become Net Water Positive in its operations by 2030 through reducing absolute water use and replenishing back into the local watershed more than 100% of the water used. The new Green Bond equivalent proceeds may be allocated to water recycling and reuse projects, including water efficiency improvements, as well as to investments to replenish watersheds in high water-risk areas through initiatives such as tree plantings, rainwater harvesting and wetlands rehabilitation. PepsiCo is also looking to fund the scaling of drip irrigation or other water savings technologies for the farmers who supply the Company with key crops and ingredients.UN SDG Alignment: SDG 6 - Clean Water and Sanitation, SDG 12 - Responsible Consumption and Production, and SDG 15 - Life on Land

As part of its Green Bond governance, PepsiCo plans to publish an annual update of the allocation of the proceeds, throughout the term of the Green Bond and until all proceeds have been allocated. The full framework can be viewed here and the annual update will be reported publicly on PepsiCo's website.

PepsiCo recently published its first Environmental, Social, and Governance (ESG) Summary since the launch of pep+, laying out progress against each of its key pillars. The summary can be viewed here.

For more information, please contact pepsicomediarelations@pepsico.com

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 $79 billion in net revenue in 2021, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with PepsiCo Positive (pep+). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com.

Cautionary Statement

This release contains statements reflecting our views about our future performance that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified through the inclusion of words such as "aim," "anticipate," "believe," "drive," "estimate," "expect," "goal," "intend," "may," "plan," "project," "strategy," "target" and "will" or similar statements or variations of such terms and other similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such statements, including the risks associated with the deadly conflict in Ukraine; the impact of COVID-19; future demand for PepsiCo's products; damage to PepsiCo's reputation or brand image; issues or concerns with respect to product quality and safety; PepsiCo's ability to compete effectively; water scarcity; changes in the retail landscape or in sales to any key customer; disruption of PepsiCo's manufacturing operations or supply chain, including increased commodity, packaging, transportation, labor and other input costs; political or social conditions in the markets where PepsiCo's products are made, manufactured, distributed or sold; future cyber incidents and other disruptions of our information systems; failure to successfully complete or manage strategic transactions; climate change or measures to address climate change; imposition or proposed imposition of new or increased taxes aimed at PepsiCo's products; imposition of limitations on the marketing or sale of PepsiCo's products; changes in laws and regulations related to the use or disposal of plastics or other packaging materials; failure to comply with applicable laws and regulations; and potential liabilities and costs from litigation, claims, legal or regulatory proceedings, inquiries or investigations. For additional information on these and other factors that could cause PepsiCo's actual results to materially differ from those set forth herein, please see PepsiCo's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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View original content to download multimedia:https://www.prnewswire.com/news-releases/pepsico-issues-new-1-25-billion-10-year-green-bond-as-company-accelerates-pep-transformation-301590420.html

SOURCE PepsiCo, Inc.

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