PepsiCo Doubles Down on Climate Goal and Pledges Net-Zero Emissions by 2040.
Highlights:
Accelerates efforts to build a more resilient and sustainable food system, reducing absolute GHG emissions more than 40% by 2030 across entire value chain
Achieves 100% renewable electricity in
Specifically, PepsiCo plans to reduce absolute GHG emissions across its direct operations (Scope 1 and 2) by 75% and its indirect value chain (Scope 3) by 40% by 2030 (2015 baseline). This action is expected to result in the reduction of more than 26 million metric tons of GHG emissions or the equivalent of taking more than five million cars off the road for a full year.
'The severe impacts from climate change are worsening, and we must accelerate the urgent systemic changes needed to address it,' said PepsiCo Chairman and CEO
PepsiCo's sustainability strategy, informed by leading science-based measures and cost-benefit analysis, focuses on the areas where it can have the most impact, while creating scalable models and partnerships for accelerated progress across the full value chain. The company's emissions target aligns to the Business Ambition for 1.5-degreeC pledge and has been approved by the Science Based Targets initiative as the most ambitious designation available through their process.
'We congratulate PepsiCo on setting an emissions reduction target consistent with limiting warming to 1.5-degreeC, the most ambitious goal of the Paris Agreement,' said
PepsiCo's action plan is centered around both mitigation, reducing GHG emissions to decarbonize its operations and supply chain, and resilience, reducing vulnerabilities to the impacts of climate change by continuing to incorporate climate risk into business continuity plans. With operations in more than 200 countries and territories around the world and approximately 260,000 employees, the company's emissions reduction plan will be comprehensive across priority areas such as agriculture, packaging, distribution and operations.
With agriculture accounting for approximately one quarter of worldwide GHG emissions and one third of PepsiCo's emissions, PepsiCo will further scale sustainable agriculture and regenerative practices that help lead to emissions reduction and sequestration, as well as improved soil health and biodiversity, decreased deforestation, and increased productivity for farmers. This includes expanding the company's global network of
PepsiCo will lower GHG emissions impact with a continued drive to reduce virgin plastic use and increase recycled content in its packaging.
Through the implementation and upgrading of environmentally sustainable manufacturing, warehousing, transportation and distribution sites, similar to the
PepsiCo is implementing innovative business processes that enable GHG emissions mitigation, such as its 'Sustainable from the Start' program, which puts environmental impact decision-making at the heart of product design. Additionally, two internal carbon pricing programs, one aimed at eliminating the carbon impact of employee business air travel and another at building carbon impact into carrier selection for third party logistics in
From Lay's to Pepsi and Quaker to Tropicana, more and more PepsiCo brands are being made using electricity from a mix of renewable energy sources.
In 2020, PepsiCo met its target to source 100% renewable electricity in the
PepsiCo is also expected to achieve 100% renewable electricity in
PepsiCo continues to support the growth of new renewable energy generation capacity through power purchase agreements. The company has finalized agreements with renewable energy company Orsted for two new wind projects in
'Our climate ambition is at the very heart of accelerating our global sustainability progress, and we are using our scale and reach to build a more sustainable and regenerative global food system,' said
PepsiCo was recently named to CDP's Climate A List and is also engaged in multiple partnerships and coalitions aimed at driving action on climate change, including the One Trillion Trees initiative,
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