PURCHASE, N.Y., June 20,
2024 /PRNewswire/ -- Today, PepsiCo has
published its 2023 progress report on Environmental, Social and
Governance (ESG) results. The 2023 ESG Reporting Suite includes the
ESG Summary, ESG Topics A-Z and the ESG Data Hub, providing a
detailed update on pep+, our global transformation program that
seeks to drive long-term business performance and value.
In 2023, PepsiCo achieved some goals ahead of schedule,
introduced new ones and made strong progress on others, while
certain goals, including with respect to packaging, continue to
present challenges. Through a wide range of innovation, strategic
investment, ground-breaking partnerships and the multitude of
actions pursued by our 318,000 global associates, the company:
- Reduced Scope 1 and 2 emissions by 13% and total Scope 1, 2 and
3 emissions by 5% year over year1;
- Reduced our use of virgin plastic derived from non-renewable
sources by 4% year over year2;
- Doubled our global regenerative farming footprint to more than
1.8 million acres3;
- Recorded a 25% improvement in water-use efficiency at high
water-risk company-owned locations when compared to a 2015
baseline—reaching this goal two years ahead of
schedule4;
- Helped more than 10 million people gain access to safe water,
bringing the total to more than 91 million since 20065;
and
- Introduced two new goals to reduce sodium and deliver diverse
ingredients—36%6,7 of our foods volume was at or
below these new sodium targets and we delivered 75
billion7,8 portions of diverse ingredients.
"Three years into our pep+ journey, it's clear the focus we have
driven throughout the business is working in many areas. Our
use of virgin plastics is down year-over-year and our total Scope
1, 2 and 3 emissions are down compared to 2022, as well as versus
our 2015 baseline. This is all to be celebrated. However, the
road ahead will continue to present challenges," said Jim Andrew, Chief Sustainability Officer at
PepsiCo. "We continue assessing where to devote time and
resources to deliver meaningful impact and ensure we are focusing
our efforts. Building strong and strategic partnerships with other
scale players and adopting and scaling breakthrough technologies
are central to our strategy."
This year's digital summary and all associated downloadable
assets are available here. Please refer to PepsiCo's complete
ESG Reporting Suite assets for a full overview of PepsiCo's 2023
pep+ results.
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 (NASDAQ: PEP) 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, and follow on X
(Twitter), Instagram, Facebook, and
LinkedIn @PepsiCo.
PepsiCoMediaRelations@pepsico.com
Cautionary Statement
This release contains statements that are "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," "estimate," "expect," "future," "goal," "intend," "may,"
"plan," "position," "seek," "should," "strategy," "target," "will"
or similar statements or variations of such words 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 forward-looking statements.
Such risks and uncertainties include, but are not limited to: 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, social or
geopolitical 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; PepsiCo's reliance on third-party service providers
and enterprise-wide systems; climate change or measures to address
climate change and other sustainability matters; strikes or work
stoppages; failure to realize benefits from PepsiCo's productivity
initiatives; deterioration in estimates and underlying assumptions
regarding future performance of our business or investments that
can result in impairment charges; fluctuations or other changes in
exchange rates; any downgrade or potential downgrade of PepsiCo's
credit ratings; 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 personal data
protection and privacy laws; increase in income tax rates, changes
in income tax laws or disagreements with tax authorities; failure
to adequately protect PepsiCo's intellectual property rights or
infringement on intellectual property rights of others; 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 SEC, 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. We undertake no obligation to update
any forward-looking statement, whether as a result of new
information, future events or otherwise.
1 Reduced Scope 1 and 2 emissions by 33%
and total Scope 1, 2 and 3 emissions by 4% measured versus a 2015
baseline. In 2023, approximately 80% of the Company's direct
global electricity needs were met with renewable electricity
mechanisms, including on-site solar, off-site power purchase
agreements and renewable energy
credits
2 Absolute tonnage of
virgin plastic derived from non-renewable sources increased by 6%
measured versus a 2020
baseline
3 PepsiCo considers an
acre as delivering regenerative impact when the adoption of
regenerative agriculture practices results in quantified
improvements across at least two of the environmental outcome
areas, with a strong preference for removing or reducing GHG
emissions to be one impact area. Refer to PepsiCo's Regenerative
Agriculture Practice Bank for a comprehensive listing of practices
directly or indirectly linked to the five impact areas.
Regenerative acres reported represent the annual count in each year
presented based on actions undertaken since
2021
4 Measured versus a 2015
baseline. Goal reflects the exclusion of third-party facilities.
Between 2006–2015, water-use efficiency improved by 26% in global
legacy operations at the date of target setting. World Resource
Institute's Aqueduct water stress assessment tool is used to
reconfirm high water-risk areas every three
years
5 Metric counts the
cumulative number of people provided with access to safe water
since 2006
6 Our global results
are based on our Top 23 convenient foods markets. Refer to the
Sodium ESG A-Z topics page for complete list of food
categories
7 As of 2023, our Top 23
convenient foods markets represented 84% of our global convenient
foods portfolio volume. Results reflect the exclusion of Be &
Cheery portfolio and the exclusion of dairy and baby food
categories in Russia and
Ukraine
8 Our
global results are based on our Top 23 convenient foods
markets
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SOURCE PepsiCo, Inc.