Food and beverage giant PepsiCo announced a series of new environmental sustainability commitments, significantly accelerating its existing goals. The company is pulling ahead its target for achieving net zero emissions by 10 years to 2040, and is doubling its 2030 emissions reduction goal to more than 40% (from a 2015 baseline), compared to its prior 20% ambition.
PepsiCo Chairman and CEO Ramon Laguarta said:
“The severe impacts from climate change are worsening, and we must accelerate the urgent systemic changes needed to address it. Moving up the company’s timeline is crucial, considering the dire consequences for waiting. There is simply no other option but immediate and aggressive action.”
The company highlighted several of the initiatives it is pursuing in order to achieve its emissions reduction goals, including working with US farmers to use cover crops to improve soil health and limit the need for fertilizer, and on sustainability programs with farmers in other countries to increase yields, improve soil health, decrease deforestation and increase farm productivity. PepsiCo is also working to reducing the use of virgin plastic, advancing zero and near-zero emission technologies, and utilizing electric and natural gas power in its warehousing, transportation and distribution facilities.
PepsiCo’s announcement comes on top of other recent sustainability commitments made by the company. In September, the company announced a new goal to source 100% renewable electricity across all of its company-owned and controlled operations globally by 2030 and across its entire franchise and third-party operations by 2040. PepsiCo also joined RE100, an initiative designed to bring together the world’s most influential companies committed to 100% renewable electricity.
Jim Andrew, PepsiCo Chief Sustainability Officer, said:
“It’s long overdue that companies move beyond just minimizing their environmental impact. They must actively work to improve and regenerate the planet.”
“Climate action is core to our business as a global food and beverage leader, and propels our PepsiCo Positive journey to deliver positive outcomes for the planet and people.”