PepsiCo has published its 2023 progress report on Environmental, Social and Governance (ESG) results, which includes the ESG Summary, ESG Topics A-Z and the ESG Data Hub. This has provided a detailed update on pep+, a global transformation programme that sought to drive long-term business performance and value.
In 2023, PepsiCo achieved some goals ahead of schedule, introduced new ones and made substantial progress on others, while specific goals, including concerning packaging, continued to present challenges.
Through a wide range of innovation, strategic investment, ground-breaking partnerships and the multitude of actions pursued by its 318,000 global associates, the company has reduced Scope 1 and 2 emissions by 13 percent and total Scope 1, 2 and 3 by five percent year over year 1.
It has also reduced its use of virgin plastic derived from non-renewable sources by four percent year over year two and doubled its global regenerative farming footprint to more than 1.8 million acres.
PepsiCo recorded a 25 percent improvement in water-use efficiency at high-water-risk company-owned locations compared to a 2015 baseline, reaching this goal two years ahead of schedule. Since 2006, it has helped more than ten million people access safe water, bringing the total to more than 91 million.
"Three years into our pep+ journey, it's clear the focus we have driven throughout the business is working in many areas,” said Jim Andrew, Chief Sustainability Officer at PepsiCo.
“Our use of virgin plastics is down year-over-year, and our total Scope 1, 2, and 3 emissions are down compared to 2022 and our 2015 baseline. This is all to be celebrated. However, the road ahead will continue to present challenges.”
The company will continue assessing where to devote time and resources to deliver meaningful impact. Building strong and strategic partnerships with other scale players and adopting and scaling breakthrough technologies are central to its strategy.
