PepsiCo doubles down on local weather aim and pledges net-zero emissions
PepsiCo accelerates efforts to create a more resilient and sustainable food system and reduces absolute greenhouse gas emissions by more than 40% across the value chain by 2030
PepsiCo, Inc. announced plans to more than double its science-based climate target and aim to reduce absolute greenhouse gas emissions in its value chain by more than 40% by 2030. In addition, the company is committed to meeting its net goal – zero emissions by 2040, a decade ahead of the Paris Agreement.
In particular, PepsiCo plans to reduce absolute greenhouse gas emissions in direct operations (Scope 1 and 2) by 75% by 2030 (2015 baseline) and by 40% in the indirect value chain (Scope 3). This move is expected to reduce greenhouse gas emissions by more than 26 million tonnes or to take more than five million cars off the road for a full year.
"The serious effects of climate change are worsening and we need to accelerate the urgent systemic changes needed to address it," said Ramon Laguarta, PepsiCo chairman and CEO.
“Protecting the climate is central to our business as a global food and beverage leader and is driving our PepsiCo Positive journey to deliver positive results for the planet and people. Our ambitious climate target will take us on the steep but critical path forward – there is simply no option but to act immediately and aggressively. "
PepsiCo's sustainability strategy, based on leading science-based measures and cost-benefit analysis, focuses on the areas where it can have the greatest impact, creating scalable models and partnerships for accelerated progress along the entire value chain. The company's emissions target is in line with its business target for a commitment of 1.5ºC and has been approved by the Science Based Targets initiative as the most ambitious designation available under its process.
"We congratulate PepsiCo on setting an emissions reduction target in line with limiting warming to 1.5 ° C, the most ambitious target of the Paris Agreement," said Nate Aden, senior associate at the World Resources Institute, a partner in the Science-Based initiative Targets ". "Businesses play an important role in reducing global emissions and it is encouraging that key players like PepsiCo are taking ambitious steps."
PepsiCo's action plan is focused on both mitigating, reducing greenhouse gas emissions to decarbonise operations and the supply chain, and resilience and reducing vulnerability to the effects of climate change by continuing to incorporate climate risk into business continuity plans becomes.
"Our climate action is at the heart of accelerating our global sustainability progress. We are leveraging our size and reach to build a more sustainable and regenerative global food system," said Jim Andrew, PepsiCo's chief sustainability officer. "It is long overdue that companies not only minimize their environmental impact, but also have to work actively to improve and regenerate the planet."