McCormick® Joins PepsiCo to Help Advance Climate-Smart Agriculture with the Soil and Water Outcomes Fund®

Ankeny, IA — The Soil and Water Outcomes Fund, a leading agricultural ecosystem services program, today announced that McCormick & Company, a global leader in flavor, has joined its Midwest Climate-Smart Commodity Program. In collaboration with PepsiCo, a global leader in food and beverage, the organizations will provide greater financial and technical support to farmers enrolled in the Midwest Climate-Smart Commodity Program helping to drive adoption of voluntary, regenerative agriculture practices.

The Midwest Climate-Smart Commodity Program is administered by the Soil and Water Outcomes Fund (SWOF) and was created in 2023 with a $95 million grant awarded through the U.S. Department of Agriculture’s (USDA) Partnerships for Climate-Smart Commodities, and $62 million in corporate commitments from companies like PepsiCo. Farmers enrolled in the program, who span 12 states across the Midwest and Plains regions, have opted to implement conservation practices such as reduced tillage, cover crops, extended crop rotations, and fertilization management to help improve soil health, water quality, reduce erosion, and more.

“We are excited to welcome McCormick to our climate-smart project,” said Dan Yeoman, co-managing director of the Soil and Water Outcomes Fund. “With the continued support of PepsiCo and the addition of McCormick, these strategic collaborations within the supply chain are expanding our ability to drive meaningful environmental outcomes while providing the tools and resources farmers need. Together, we are making significant strides in building a more sustainable and resilient food system despite a changing climate.”

The Soil and Water Outcomes Fund continues to grow its opportunities for farmers and environmental impact through strategic supply chain partnerships. As a part of the Midwest Climate Smart Commodity Program, McCormick and PepsiCo are working together to support more farmers as they transition to regenerative agricultural practices. Together, the organizations aim to incentivize positive environmental outcomes on more than 90,000 acres of agricultural land within their shared supply shed states of Minnesota, South Dakota, Wisconsin, and parts of northern Iowa. Corporate commitments such as these can help mitigate the risks and costs farmers face when adopting more sustainable practices. This effort is estimated to generate approximately 62,000 MT of CO2e abatement in the supply chain, in addition to other positive environmental outcomes in water and soil health.  

“At McCormick, we understand the critical value of partnering with stakeholders across our supply chain to deliver a stronger impact which is why we are excited to join forces with the Soil and Water Outcomes Fund to advance our shared goals around climate change,” said Donald Pratt, Chief Procurement Officer at McCormick & Company. “Participation in this program alongside PepsiCo underscores our commitment to sustainable sourcing and farmer resiliency, and highlights our work to partner with suppliers and farmers to improve practices across our supply chain that benefit people, communities, and the planet.”

“As one company, we cannot drive systemic change alone. At PepsiCo, we seek to foster strategic partnerships and opportunities for collaboration to help drive more positive outcomes for farmers. We’re looking forward to continuing our role in the Midwest Climate-Smart Commodity Program, and aim to extend its impact by working alongside McCormick to offer the support and resources farming communities need to embrace and implement regenerative farming across more acres this year, and for years to come,” said Margaret Henry, Vice President, Sustainable Agriculture, PepsiCo.

Building on the success of Midwest Climate-Smart Commodity Program and other efforts, the Soil and Water Outcomes Fund has enrolled over 750,000 acres across 17 states in 2024, resulting in more than $25 million in payments to participating farmers during its fifth enrollment season. A map of eligible cropland areas is available by visiting www.theoutcomesfund.com. Farmers or landowners interested in enrolling in the program can learn more by contacting SWOF at contactus@theoutcomesfund.com.

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About the Soil and Water Outcomes Fund
The Soil and Water Outcomes Fund provides financial incentives to farmers for implementing on-farm conservation practices that yield positive environmental outcomes like carbon sequestration and water quality improvement. They provide new market opportunities and revenue streams for farmers by selling these environmental outcomes to the public and private beneficiaries. The Soil and Water Outcomes Fund is managed by AgOutcomes, a subsidiary of the Iowa Soybean Association.

About McCormick
McCormick & Company, Incorporated is a global leader in flavor. With over $6.5 billion in annual sales across 150 countries and territories, we manufacture, market, and distribute herbs, spices, seasonings, condiments and flavors to the entire food and beverage industry including retailers, food manufacturers and foodservice businesses. Our most popular brands with trademark registrations include McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane, Gourmet Garden, FONA and Giotti. The breadth and reach of our portfolio uniquely position us to capitalize on the consumer demand for flavor in every sip and bite, through our products and our customers' products. We operate in two segments, Consumer and Flavor Solutions, which complement each other and reinforce our differentiation. The scale, insights, and technology that we leverage from both segments are meaningful in driving sustainable growth.

Founded in 1889 and headquartered in Hunt Valley, Maryland USA, McCormick is guided by our principles and committed to our Purpose – To Stand Together for the Future of Flavor. McCormick envisions A World United by Flavor where healthy, sustainable, and delicious go hand in hand.

To learn more, visit: www.mccormickcorporation.com or follow McCormick & Company on Instagram and LinkedIn.

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 $91 billion in net revenue in 2023, 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 pep+ (PepsiCo Positive). 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.