PepsiCo recently published its global 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 yeari;
Reduced our use of virgin plastic derived from non-renewable sources by 4% year over yearii;
Doubled our global regenerative farming footprint to more than 1.8 million acresiii;
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 scheduleiv;
Helped more than 10 million people gain access to safe water, bringing the total to more than 91 million since 2006v; 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 billion7,viii portions of diverse ingredients.
In Northern Europe, PepsiCo reports progress on its nutrition, climate and packaging goals. The company reports:
81% of its local foods portfolio volume does not exceed 1.3 milligrams (mg) of sodium per Calorie, thereby surpassing the 2025 global goal of >75%
92% of its beverage portfolio volume in Belgium, Luxembourg and Germany does not exceed 100 Calories from added sugars per 12 ounce serving, surpassing our global goal of >67%
Using 100% renewable electricity at its manufacturing sites across Northern Europe
Growing its ‘non-Diesel kilometers’ for the transport of its products across Northern Europe
Introducing 100% design for recycling flexible packaging for its snacks portfolio (Lay’s, Doritos and Cheetos) in Northern Europe and 100% recycled PET* for its beverage portfolio in Belgium, Luxembourg and Germany.
“Since 2015 we have been working towards our pep+ goals in Northern Europe and thus far we can report progress in the areas of nutrition, climate and packaging. We have for example achieved great results in reducing sodium in our snacks portfolio across Northern Europe and reducing sugar in our beverage portfolio in Belgium, Luxembourg and Germany. Additionally, we are introducing innovative solutions in our local snacks plants in Belgium and in the Netherlands to help decarbonize and electrify our production process to reduce our greenhouse gas emissions,” said Rozanne Drost, Sustainability Senior Manager at PepsiCo in Northern Europe. “On packaging we have taken steps in making our packaging designed for recycling, but we do also acknowledge, as we work to achieve our goals, that strategic partnerships are essential for us to support the development of collection, sortation and recycling infrastructure to process the materials we put in market. We ambitiously believe that by continuing to focus on doings what’s right for our people and planet, we will continue to make progress on pep+.”
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.
*Excluding caps and labels.
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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.
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 Ukraine; future demand for PepsiCo’s products; damage to PepsiCo’s reputation or brand image; product recalls or other issues or concerns with respect to product quality and safety; PepsiCo’s ability to compete effectively; PepsiCo’s ability to attract, develop and maintain a highly skilled and diverse workforce or effectively manage changes in our workforce; water scarcity; changes in the retail landscape or in sales to any key customer; disruption of PepsiCo’s manufacturing operations or supply chain, including continued increased commodity, packaging, transportation, labor and other input costs; political, social or geopolitical conditions in the markets where PepsiCo’s products are made, manufactured, distributed or sold; PepsiCo’s ability to grow its business in developing and emerging markets; changes in economic conditions in the countries in which PepsiCo operates; future cyber incidents and other disruptions to our information systems; failure to successfully complete or manage strategic transactions; PepsiCo’s reliance on third-party service providers and enterprise-wide systems; climate change or measures to address climate change and other sustainability matters; strikes or work stoppages; failure to realize benefits from PepsiCo’s productivity initiatives; deterioration in estimates and underlying assumptions regarding future performance of our business or investments that can result in impairment charges; fluctuations or other changes in exchange rates; any downgrade or potential downgrade of PepsiCo’s credit ratings; imposition or proposed imposition of new or increased taxes aimed at PepsiCo’s products; imposition of limitations on the marketing or sale of PepsiCo’s products; changes in laws and regulations related to the use or disposal of plastics or other packaging materials; failure to comply with personal data protection and privacy laws; increase in income tax rates, changes in income tax laws or disagreements with tax authorities; failure to adequately protect PepsiCo’s intellectual property rights or infringement on intellectual property rights of others; failure to comply with applicable laws and regulations; and potential liabilities and costs from litigation, claims, legal or regulatory proceedings, inquiries or investigations.
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.