PepsiCo Releases 2023 ESG Progress Report Highlighting Achievements

PepsiCo released its Environmental, Social, and Governance (ESG) report for 2023, including the ESG Summary, ESG Topics A-Z, and the ESG Data Hub. The comprehensive update details the progress of pep+, PepsiCo’s global transformation program aimed at driving long-term business performance and value. 

The report shows that PepsiCo made significant strides in some areas last year, although other targets—including packaging—remain challenging for the multinational food and beverage corporation. 

Still, strategic investment planning, extensive innovation, partnerships, and PepsiCo’s 318,000 global associates helped the company reduce Scope 1 and 2 emissions by 13%. The company also slashed its use of non-renewable virgin plastic by 4% compared to the previous year. 

Moreover, PepsiCo doubled its global regenerative farming footprint to more than 1.8 million acres. The company also recorded its water-use efficiency with a 25% improvement at high-water-risk company locations compared to its 2015 baseline. Pepsico reached the goal two years in advance of its schedule. PepsiCo also facilitated access to safe water for more than 10 million people.  

“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.” 

View the 2023 ESG Summary here.  

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