In 2023, PepsiCo achieved some goals ahead of schedule, introduced new ones and made strong progress on others, while certain goals, including with respect to packaging, continue to present challenges. 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 year1;
- Reduced our use of virgin plastic derived from non-renewable sources by 4% year over year2;
- Doubled our global regenerative farming footprint to more than 1.8 million acres3;
- 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 schedule4;
- Helped more than 10 million people gain access to safe water, bringing the total to more than 91 million since 20065; and
- Introduced two new goals to reduce sodium and deliver diverse ingredients”36%6,7 of our foods volume was at or below these new sodium targets and we delivered 75 billion7,8 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," said
This year's digital summary and all associated downloadable assets are available here. Please refer to PepsiCo's complete ESG Reporting Suite assets for a full overview of PepsiCo's 2023 pep+ results.
About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo (NASDAQ: PEP) generated more than
Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on X (Twitter), Instagram, Facebook (NASDAQ:META), and LinkedIn @PepsiCo.
PepsiCoMediaRelations@pepsico.com
Cautionary Statement
This release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified through the inclusion of words such as "aim," "anticipate," "believe," "estimate," "expect," "future," "goal," "intend," "may," "plan," "position," "seek," "should," "strategy," "target," "will" or similar statements or variations of such words and other similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties include, but are not limited to: the risks associated with the deadly conflict in
For additional information on these and other factors that could cause PepsiCo's actual results to materially differ from those set forth herein, please see PepsiCo's filings with the SEC, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
1 Reduced Scope 1 and 2 emissions by 33% and total Scope 1, 2 and 3 emissions by 4% measured versus a 2015 baseline. In 2023, approximately 80% of the Company's direct global electricity needs were met with renewable electricity mechanisms, including on-site solar, off-site power purchase agreements and renewable energy credits
2Absolute tonnage of virgin plastic derived from non-renewable sources increased by 6% measured versus a 2020 baseline
3PepsiCo considers an acre as delivering regenerative impact when the adoption of regenerative agriculture practices results in quantified improvements across at least two of the environmental outcome areas, with a strong preference for removing or reducing GHG emissions to be one impact area. Refer to PepsiCo's Regenerative Agriculture Practice Bank for a comprehensive listing of practices directly or indirectly linked to the five impact areas. Regenerative acres reported represent the annual count in each year presented based on actions undertaken since 2021
4 Measured versus a 2015 baseline. Goal reflects the exclusion of third-party facilities. Between 2006“2015, water-use efficiency improved by 26% in global legacy operations at the date of target setting. World Resource Institute's Aqueduct water stress assessment tool is used to reconfirm high water-risk areas every three years
5Metric counts the cumulative number of people provided with access to safe water since 2006
6 Our global results are based on our Top 23 convenient foods markets. Refer to the Sodium ESG A-Z topics page for complete list of food categories
7 As of 2023, our Top 23 convenient foods markets represented 84% of our global convenient foods portfolio volume. Results reflect the exclusion of Be & Cheery portfolio and the exclusion of dairy and baby food categories in
8 Our global results are based on our Top 23 convenient foods markets
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