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PepsiCo pledges net zero emissions by 2040

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PepsiCo has announced plans to more than double its science-based climate goal, targeting a reduction of absolute greenhouse gas (GHG) emissions  across its value chain by more than 40 percent by 2030, including renewable energy plans in the US, Mexico and Australia.
PepsiCo pledges net zero emissions by 2040

Specifically, PepsiCo plans to reduce absolute GHG emissions across its direct operations by 75 percent and its indirect value chain by 40 percent by 2030. 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 Ramon Laguarta. “Climate action is core to our business as a global food and beverage leader and propels our PepsiCo Positive journey to deliver positive outcomes for the planet and people. Our ambitious climate goal will guide us on the steep but critical path forward -- there is simply no other option but immediate and aggressive action.”

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°C pledge and has been approved by the Science Based Targets initiative as the most ambitious designation available through their process.

PepsiCo's action plan is centred around both mitigation, reducing GHG emissions to decarbonise 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 Demonstration Farms, which provide localised training and tools to implement sustainable practices and improve livelihoods.

Along with a continued drive to reduce the use of plastic and increase recycled content in packaging, more of the company’s brands are being made using renewable electricity generated from a variety of sources.

In 2020, PepsiCo met its target to source 100 percent renewable electricity in the US and set a new target to source 100 percent renewable electricity across all of its company owned and controlled operations globally by 2030 and across its entire franchise and third-party operations by 2040.

PepsiCo is also expected to achieve 100 percent renewable electricity in Mexico and Australia in 2021, which will bring the total number of countries fully sourcing renewable energy in PepsiCo's direct operations to 15 and address approximately 60 percent of its direct global electricity needs through renewable sources. Twelve countries in PepsiCo's Europe sector already source 100 percent renewable electricity.

The company 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, The Climate Group's RE100, Renewable Energy Buyers Alliance, We Are Still In and the US Climate Leadership Council.

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PepsiCo

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