PepsiCo Released the 2023 ESG Summary Highlighting PepsiCo’s Positive (pep+) Results
PepsiCo just released its 2023 Environmental, Social, and Governance (ESG) progress report. The ESG Summary, ESG Topics A-Z, and the ESG Data Hub are included in the 2023 ESG Reporting Suite and offer a thorough update on pep+, the company’s worldwide transformation initiative that aims to improve long-term business performance and value.
Last year, PepsiCo met several goals ahead of schedule, launched new ones, and made significant progress on others, while others, notably packaging, remained challenging.
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 year.
Also, it reduced the use of virgin plastic derived from non-renewable sources by 4% year over year and doubled its global regenerative farming footprint to more than 1.8m acres. It 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 schedule, it helped more than 10m people gain access to safe water, bringing the total to more than 91m since 20065, and it introduced two new goals to reduce sodium and deliver diverse ingredients—36% of its foods volume was at or below these new sodium targets and it delivered 75bn 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. 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,” Jim Andrew, Chief Sustainability Officer at PepsiCo, concluded.
