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Pepsico Doubles Climate Target, Promises Net-Zero Emissions by 2040
27 Jan 2021Accelerating its efforts to build a stronger and more sustainable food system, PepsiCo will reduce absolute greenhouse gas emissions across its entire value chain by more than 40 percent by 2030.
PepsiCo will focus on the following topics in the European region, including Turkey:
- Advancing sustainable agriculture, including creating higher yields using scalable low-emission fertilizer and precision farming technology
- Accelerating the transition to renewable energy and adopting low or zero emissions across our entire logistics chain
- Increasing the recycled rate of plastic used in packaging
- Continuing product design to reduce the environmental impact of their brands
[January 14, 2021] PepsiCo (NASDAQ:PEP) today announced plans to more than double its science-based climate target, aiming to reduce absolute greenhouse gas (GHG) emissions by more than 40% across its value chain by 2030. The company has also promised to reach net zero emissions by 2040, a decade earlier than envisaged in the Paris Agreement.
PepsiCo plans to reduce absolute greenhouse gas emissions by 75% in its direct operations (scope 1 and 2) and by 40% in its indirect operations (scope 3) by 2030 (2015 basis). This action is expected to be equivalent to reducing greenhouse gas emissions by more than 26 million metric tons, or removing more than five million cars from the road for a year.
"The effects of climate change are increasing in severity, and we must accelerate the urgent systemic changes needed to solve this problem," said PepsiCo Chairman and CEO Ramon Laguarta. "Climate action underpins our business as one of the world's leading food and beverage companies and accelerates our PepsiCo Positive journey to deliver positive outcomes for planet and people. Our strong climate ambition will guide us on this challenging but critical journey – there is no choice but urgent and aggressive action."
PepsiCo's action plan; It is focused around both reducing greenhouse gas emissions to decarbonize its operations and supply chain, and stronger defense against the impacts of climate change by continuing to include the issue of climate change in its business continuity plans. In Europe, PepsiCo, which has already reduced its total emissions by 6% since 2015, in line with global targets, will focus on priority areas such as agriculture, packaging, distribution and operations with its new and comprehensive emission reduction plan.
PepsiCo Europe CEO Silviu Popovici says, "There is no vaccine for climate change. But our planet is in crisis," and continues: "PepsiCo's new climate target will double our emissions reduction efforts. This includes both company-owned businesses and our suppliers and bottlers. Simply put, we must all do more."
PepsiCo Türkiye General Manager Ece Aksel said that they increased the use of renewable energy in direct operations and reduced the plastic used in the packaging of products in order to reduce carbon emissions; "As of this year, we are switching to the use of 50% recycled PET in our carbonated drinks. We are increasing the use of renewable energy in our factories day by day. Today, in our food factories, we obtain up to 50% of our electricity consumption from biogas and solar energy obtained from our organic waste. We aim to switch to 100% renewable electricity in all our factories by 2021," he said.
Europe will focus on the following on its way to a 40 percent absolute emissions reduction:
- With agriculture accounting for nearly a quarter of the world's greenhouse gas emissions and nearly a third of PepsiCo's emissions, PepsiCo will further scale its sustainable agriculture and regenerative efforts to help reduce emissions, as well as improve soil health and biodiversity, reduce deforestation, and deliver greater yields for farmers. This includes expanding the company's global network of Demonstration Farms to help implement sustainable practices and improve livelihoods. In Europe, PepsiCo will also make greater use of precision farming technology in its Quaker oats and Lay's potato crops, as well as technology to produce low-emission fertilizer made from potato waste at its Lays and Walkers factories. The company will alsotransition to renewable energy with farmers and suppliers of agricultural ingredients
.PepsiCo will reduce the impact of greenhouse gas emissions by continuing to increase the rate of recycled plastic in its packaging. This includes recent announcements to switch to 100% recycled plastic (rPET) bottles by 2022 under the Pepsi brand in nine European countries.The company aims to maximize efficiency in the supply chain while adopting zero and near-zero emission technologies through the implementation and improvement of environmentally sustainable production, storage, transportation and distribution facilities. From Lay's to Pepsi MAX and Quaker to Tropicana, more and more PepsiCo brands are produced using electricity from renewable sources. 12 countries in PepsiCo's European region already provide 100% renewable electricity and have renewable energy sources such as windmills, solar power, photovoltaic panels or biomass generators at 13 facilities installed in the region. PepsiCo will work with its suppliers to transition to low- and zero-emission fuel in logistics, while also expanding the use of artificial intelligence technology to enable better route planning to reduce emissions in distribution.PepsiCo implements innovative business processes that reduce greenhouse gas emissions, such as its "Sustainable from the Start" program, which puts environmental impact decision-making at the center of product design. Additionally, two internal carbon pricing programs, one aimed at eliminating the carbon impact of employee business airline travel and the other aimed at creating a positive carbon impact in carrier selection for third-party logistics, will help further leverage climate considerations in PepsiCo's business decisions.
As part of this ongoing commitment to leverage PepsiCo's scale and impact the broader food system, PepsiCo builds on its existing participation in the One Trillion Trees initiative and other coalitions seeking to take action on climate change, such as The Climate Group's RE100 and We're Still In.
The company's emissions target is aligned with its Business Target pledge for 1.5°C and has been endorsed by the Science Based Targets initiative as the most ambitious definition available in their process.
We congratulate PepsiCo for setting an emissions reduction target consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement,” said Nate Aden, Senior Partner at the World Resources Institute, one of the Science-Based Targets initiative partners. "Companies have a vital role to play in reducing global emissions, and it's encouraging to see big players like PepsiCo taking ambitious steps."
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