Sets Target to Reduce 35% of Virgin Plastic Across Beverage Brands by 2025 Driven by Increased Use of Recycled Content and Alternative Packaging.
SodaStream Business to Drive the Avoidance of 67 Billion Single-Use Plastic Bottles Over Next Five Years Furthering Company's Progress in Reusable Packaging.
PepsiCo, Inc. has announced a new target to reduce 35% of virgin plastic content across its beverage portfolio by 2025, which equates to the elimination of 2.5 million metric tons of cumulative virgin plastic.
Progress will be driven by the company's increased use of recycled content and alternative packaging materials for its beverage brands, including LIFEWTR®, bubly™ and Aquafina®, which recently announced sustainable packaging efforts.
Additionally, through the expansion of PepsiCo's SodaStream® business, an estimated 67 billion plastic bottles will be avoided through 2025. These targets advance PepsiCo's sustainable packaging vision and reinforce its "Beyond the Bottle" strategy which, in addition to SodaStream, includes the mobile-enabled Hydration Platform and other offerings that deliver beverages without single-use plastic bottles.
"While our efforts are far from done, this is one more step in PepsiCo's journey toward helping to build a world where plastics need never become waste," said PepsiCo Chairman and CEO, Ramon Laguarta. "Even as we work to accelerate business growth, we continue to make important progress toward a circular economy for packaging, a responsibility we take very seriously."
PepsiCo's sustainable plastics vision is rooted in three pillars: Reducing the amount of plastics used, Boosting recycling rates, and Reinventing plastic packaging.
"We're intentionally setting ambitious goals to drive meaningful progress," said Simon Lowden, President, PepsiCo Global Foods, who leads PepsiCo's Plastic Agenda. "PepsiCo is already one of the world's largest buyers of recycled plastic, and if there was more available, we'd buy it - and if there were more markets where we could use it, we would. We are committed, and partnership is key."
Today's announcement builds upon the company's already announced packaging goals to, by 2025: make 100% of its packaging recyclable, compostable, or biodegradable; and increase its use of recycled content in plastics packaging to 25%.
Examples of PepsiCo's progress in sustainable packaging include:
The targets announced today are based off a 2018 baseline. In 2018, PepsiCo's total virgin plastic volume use was 2.2 million metric tons. For more information on PepsiCo's packaging goals and progress, visit: https://www.pepsico.com/sustainability/packaging
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business.
For more information, visit www.pepsico.com
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