I'll let TBWA/Chiat Day explain:

The Pepsi Refresh Project is a multi-million dollar marketing platform that invites people to submit and vote for ideas that help make the world a better place.

That's right folks, Pepsi has turned into a buncha hippies! Do check out the smartly edited commercial where people really come together to create the whole scene, and have a listen to the radio ad I care about to get a full overview of the campaign. Complete your tour by checking out the website refresheverything.com. I must say, I actually find the campaign rather refresing.

Pepsi is a brand that has always embodied the spirit of youth. Whether through social initiatives, or its place in pop culture, Pepsi has always fuelled and created culture.
In 2009, Pepsi launched the Refresh campaign, celebrating optimism and its role in our changing world.
This year, Pepsi is putting that optimism into action, with the launch of the Pepsi Refresh Project. Over the course of the year Pepsi will be awarding millions of dollars in Pepsi Refresh Grants.
Rather than simply donating the money to charity, the Refresh Project promises to connect to consumers on a personal level, increasing their involvement with the brand by letting them decide which projects to fund.
Submissions are welcome from all walks of life: consumers, for-profits, non-profits. Anyone with an idea is eligible.
As for how the money is distributed, that’s up to the public too. Voting is open to everyone, and only the most popular ideas will be awarded Refresh Grants.
This isn’t a cause marketing initiative. It’s not an advertising campaign. It’s not a social media campaign. It’s a refreshing new way of doing business, based on a firm belief at Pepsi that doing well means doing good.
AGENCY: TBWA\Chiat\Day, Los Angeles Global Director of Media Arts: Lee Clow Chief Creative Officer: Rob Schwartz Group Creative Director: Brett Craig Interactive Creative Director: Michael Tabtabai Associate Creative Director: Xanthe Hohalek Art Director: Dustin Artz Copywriter: Chris Jones Managing Director: Erica Hoholick Account Director: David Dreyer Management Supervisor: Kristen Latto

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about the author

Dabitch Creative Director, CEO, hell-raising sweetheart and editor of Adland. Globetrotting Swede who has lived and worked in New York, London, San Francisco, Amsterdam, Copenhagen and Stockholm.