PepsiCo has published its 2023 progress report on Environmental, Social and Governance (ESG) results. The 2023 ESG Reporting Suite includes the ESG Summary, ESG Topics A-Z and the ESG Data Hub, providing a detailed update on pep+, our global transformation program that seeks to drive long-term business performance and value.

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 year[i];

·        Reduced our use of virgin plastic derived from non-renewable sources by 4% year over year[ii];

·       Doubled our global regenerative farming footprint to more than 1.8 million acres[iii];

·      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[iv];

·       Helped more than 10 million people gain access to safe water, bringing the total to more than 91 million since 2006[v]; and

·      Introduced two new goals to reduce sodium and deliver diverse ingredients—36%[vi]^,[vii] of our foods volume was at or below these new sodium targets and we delivered 75 billion^7,[viii] portions of diverse ingredients.

In India, PepsiCo has made significant strides in advancing its ESG initiatives. These efforts demonstrate PepsiCo India's commitment to creating “Partnerships of Progress” and making a positive difference for people and the planet, helping to build a more circular economy. Through its Sustainable Water Resource Development and Management (SWRDM) program, PepsiCo India focuses on enabling groundwater recharge by employing geo-hydrological considerations at the watershed level. This initiative has helped recharge over 1,000 million liters of groundwater, impacting more than 70,000 lives and allowing PepsiCo India to meet 100% of its water replenishment targets across plants through the construction and rejuvenation of 33 rainwater harvesting ponds.

PepsiCo in India, today works, directly and indirectly, with 27,000 farmers across 14 states. Initiatives for the farming community include Lay’s Smart Farm, Lay’s Biochar Project, Global Development Alliance (GDA), and Project Farm Equal, which are being implemented to promote regenerative agricultural practices, reduce greenhouse gas emissions, and enhance gender inclusivity in agriculture, respectively.  Additionally, PepsiCo India has strengthened its plastic waste management efforts by partnering with local organizations through initiatives like the Tidy Trails Plastic Waste Management Program with shopkeeper communities, the Plog Run – an annual event, and the Purna Program with waste workers. These efforts align with PepsiCo’s global pep+ targets and highlight the company’s commitment to driving positive change in one of its key markets.

"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."

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 $91 billion in net revenue in 2023, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

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, and LinkedIn @PepsiCo.