The grant will help 800,000 people to access safe water by March 2016. The $8-million grant is the largest contribution by the Foundation in its 50-year history.
In 2008, the PepsiCo Foundation contributed $4.1 million to Water.org resulting, to date, in more than 250,000 people accessing improved water and/or sanitation through initiatives funded by microfinance loans.
“Water is an integral part of PepsiCo’s business ecosystem, and ensuring access to clean, reliable sources of water is vital to the health and livelihood of communities around the world,” said Indra Nooyi, Chairman and CEO of PepsiCo.
“There will never be enough charity in the world to solve this problem. What we need to do is double down on smart solutions like WaterCredit which can rapidly scale safe water and sanitation access for families that are in desperate need right now,” said
Matt Damon, actor and co-founder of Water.org. “In the U.S., we have the luxury to debate and plan for water shortages and investments in our infrastructure. For billions, this is a daily nightmare and fight for survival. It’s visionary partners
like the PepsiCo Foundation that recognize that and I hope their example inspires others to follow suit.”
“I am proud that my Clinton Global Initiative (CGI) Annual Meeting was able to serve as the catalyst for Water.org and PepsiCo’s commitment to providing clean drinking water around the world,” said President Bill Clinton. “It is partnerships like this
that have helped CGI touch 400 million people in over 180 countries. This grant will help Water.org and PepsiCo help end the global water crisis —one of the most pressing and universal challenges of our time.”
The PepsiCo Foundation’s support for Water.org is part of the company’s commitment to global water stewardship, under which PepsiCo has pledged to:
* Provide access to safe water to three million people in developing countries by the end of 2015;
* Improve water use efficiency by 20 percent per unit of production by 2015; and
* Strive for “positive water balance” in water-distressed areas.
PepsiCo and the PepsiCo Foundation have pledged nearly $34 million to safe water and sanitation initiatives in developing countries since 2005, in partnership with organizations, including the Inter-American Development Bank’s AquaFund, Safe Water
Network, China Women’s Development Fund, Save the Children, International Rescue Committee, Earth Institute at Columbia University and The Energy Resources Institute.