PURCHASE, N.Y., June 29,
2023 /PRNewswire/ -- Today, PepsiCo, Inc.
(NASDAQ:PEP) published its 2022 Environmental, Social, and
Governance (ESG) Summary, sharing the first full year of reporting
since the launch of PepsiCo Positive (pep+) in 2021.
pep+ is an end-to-end transformation program touching virtually
every aspect of PepsiCo's business – from how ingredients are
grown; to how its iconic portfolio of products are made, moved and
sold; to what choices are offered to consumers. pep+ is the
framework through which all actions on setting and working toward
ESG targets are driven.
In 2022, the company reported significant progress on its
nutrition, agriculture, social (people and communities), water-use
efficiency and safe water access goals. PepsiCo continues working
toward driving down climate emissions and the use of virgin
plastic.
PepsiCo reported the following results:
- For the second year, 75% of its convenient foods portfolio
volume1 did not exceed 1.1 grams of saturated fat per
100 calories
-
- PepsiCo initially achieved this goal in 2021, four years ahead
of schedule.
- Further reduced added sugars and sodium in its portfolio of
products in 2022
-
- PepsiCo has 56% of its beverage portfolio volume2
containing less than 100 calories from added sugars per 12-ounce
serving, up from 53% in 2021.
- PepsiCo now has 68% of its convenient foods portfolio
volume3 at or below 1.3 milligrams of sodium per
calorie, up from 66% in 2021.
- More than doubled its regenerative farming footprint in 2022 to
greater than 900,000 acres globally4
-
- PepsiCo has helped farmers become more resilient and has
reduced carbon emissions from agriculture by more than 330,000
metric tons – the equivalent of taking more than 73,000 cars off
the road for a year.
- Surpassed the company's goal to achieve 10% Hispanic
representation in U.S. managerial positions
-
- PepsiCo has met this goal three years early.
- Improved water-use efficiency by 22% in operations since 2015
in high water-risk areas5
-
- PepsiCo is now approaching its 2025 goal of 25%.
- Provided safe water access to another 12 million people in
2022
-
- PepsiCo has now provided safe water access to more than 80
million people since 2006.
Commenting on PepsiCo's approach to engaging farmers and
leveraging regenerative agriculture practices to address climate
change, National Association of Wheat Growers CEO Chandler Goule said, "PepsiCo is at the
forefront, demonstrating how food companies and producers can
collaborate effectively to cultivate sustainable, affordable, and
safe food. PepsiCo has made meaningful investments in agriculture,
and they have led the way in engaging growers from the outset to
ensure sustainability objectives are both attainable and mutually
beneficial."
The company acknowledged that it aspires to greater progress for
packaging and emissions reductions. PepsiCo is working on plans to
help advance its goals in these areas, prioritizing actions which
are expected to make the biggest difference.
Commenting on the results, Jim
Andrew, Chief Sustainability Officer, said: "Decoupling our
business growth from our resource use is always going to be
difficult but meeting our long-term targets is critical and we are
rapidly learning how and where we need to adjust. We issued
$2.25 billion in green bonds since
2019, and we have made – and will continue to make – substantial
investments toward key parts of our pep+ agenda, including becoming
net zero and reducing the use of virgin plastics. We will also work
diligently to remove barriers to progress, many of which are
regulatory in nature. The challenges to addressing systemic issues
are enormous and it will take a multi-stakeholder approach to get
to where we all want to be."
Additional perspective from Chairman and Chief Executive
Officer, Ramon Laguarta, and
Jim Andrew about the progress toward
PepsiCo's planet and people goals, and the urgency of collective
action to address systemic change, is provided in a video
message.
PepsiCo is committed to providing transparent reporting and has
been recognized by Corporate Secretary's Corporate Governance
Awards for three consecutive years, as "Best ESG Reporting" for a
large cap company.
Complementing the 2022 ESG Summary, PepsiCo also published
details on its approach and progress for more than 50 topics on the
ESG Topics A-Z webpage. This year's digital summary and all
associated downloadable assets are available 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 $86
billion in net revenue in 2022, 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, and follow on Twitter,
Instagram, Facebook, and LinkedIn @PepsiCo.
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; future demand
for PepsiCo's products; damage to PepsiCo's reputation or brand
image; product recalls or other issues or concerns with respect to
product quality and safety; PepsiCo's ability to compete
effectively; PepsiCo's ability to attract, develop and maintain a
highly skilled and diverse workforce or effectively manage changes
in our workforce; water scarcity; changes in the retail landscape
or in sales to any key customer; disruption of PepsiCo's
manufacturing operations or supply chain, including continued
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;
PepsiCo's ability to grow its business in developing and emerging
markets; changes in economic conditions in the countries in which
PepsiCo operates; future cyber incidents and other disruptions to
our information systems; failure to successfully complete or manage
strategic transactions; climate change or measures to address
climate change; strikes or work stoppages; failure to realize
benefits from PepsiCo's productivity initiatives; 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.
1/2/3 As of 2022, results based on Top 26 Beverage
markets representing 78% of our global beverages volume and Top 23
Convenient Foods markets representing 86% of our global convenient
foods volume. Results reflect exclusion of Be & Cheery
portfolio.
4 PepsiCo considers an acre as delivering
regenerative impact when the adoption of regenerative agriculture
practices results in quantified improvements in at least two of the
environmental impact areas, with a preference for GHG to be one
impact area.
5 Measured from a 2015 baseline, against a target of
25 percent by 2025.
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SOURCE PepsiCo, Inc.