PepsiCo is making changes to its sustainability goals, focusing on becoming more pragmatic in its approach to climate investments. The company is adjusting some of its targets to better align with external barriers and to position itself for long-term growth.
One of the key changes includes the decision to sunset a goal to reduce total emissions by more than 40% by 2030. PepsiCo is also adjusting targets related to packaging waste while expanding goals around regenerative agriculture. These changes reflect the company’s acknowledgment of challenges like infrastructure limitations that have hindered its ability to meet certain targets on time.
Jim Andrew, PepsiCo’s chief sustainability officer, emphasized the importance of adapting sustainability goals to ensure business resilience and positive environmental impact. The company’s pep+ sustainability strategy, launched nearly four years ago, has seen progress, but the recent revamp accounts for changing government approaches and infrastructure constraints.
The adjustments to emissions goals include a shift in targets for scope 1, 2, and 3 emissions reduction, with a focus on evolved near-term targets. The company is also extending the deadline to achieve net-zero emissions to 2050, aligning with the Science Based Targets initiative’s 1.5 degrees Celsius scenario.
In terms of packaging goals, PepsiCo is scaling back commitments to reusable models and focusing on supporting partners developing new material technologies. The company recognizes the need for investment, innovation, and collaboration to drive systemic change in packaging sustainability.
Despite facing challenges in meeting previous sustainability goals, PepsiCo remains committed to areas where it can make a significant impact, such as regenerative agriculture and water stewardship. The company aims to bring healthy soil practices to 10 million acres by 2030 as part of its expanded regenerative agriculture goal.
Overall, PepsiCo’s refined sustainability targets reflect a commitment to transparency and a willingness to address challenges head-on. The company’s upcoming 2024 ESG report will provide further insights into its progress and future sustainability initiatives.
