Pepsi issues ESG report

LAHORE: PepsiCo has published its first environmental, social, and governance (ESG) summary since launch of PepsiCo Positive (pep+), a strategic end-to-end business transformation with sustainability and human capital, a statement said on Wednesday.

The report highlights progress made on ESG commitments made by the company. As per the summary, PepsiCo helped to spread adoption of regenerative agriculture practices across more than 345,000 acres, which is a progress toward its goal of seven million acres, the approximate equivalent of PepsiCo’s agricultural footprint, by 2030.

The company said it has reduced Scope 1 and 2 emissions by 25 percent from a 2015 baseline, with more than 70 percent of global electricity needs in direct operations now met by renewable sources, it claimed. In 2021, Scope 3 emissions, which account for 93 percent of the company’s emissions, increased by 5 percent from a 2015 baseline, it added.

PepsiCo stated that it improved operational water-use efficiency by 18 percent in high water-risk areas from a 2015 baseline, against a target of 25 percent by 2025 and replenished 34 percent of water used in operations to local watersheds in 2021, more than 6.1 billion liters of water.

In addition, the company said it continued to advance safe water access globally to more than 68 million people since 2006, putting it more than halfway to its 2030 goal of 100 million people.