PepsiCo Inc revealed plans to more than double its science-based climate goal. Plans target a reduction of absolute greenhouse gas (GHG) emissions across its value chain by more than 40% by 2030, and to achieve net-zero emissions by 2040, a decade earlier than called for in the Paris Agreement.
Specifically, PepsiCo projects to reduce absolute GHG emissions across its direct operations (Scope 1 and 2) 75% and its indirect value chain (Scope 3) 40% by 2030 (2015 baseline). The beverage giant said action is expected to result in the reduction of more than 26 million metric tons of GHG emissions or the equivalent of taking more than 5 million cars off the road for a full year.
"The severe impacts from climate change are worsening, and we must accelerate the urgent systemic changes needed to address it," said PepsiCo chairman and chief executive Ramon Laguarta. "Climate action is core to our business as a global food and beverage leader and propels our PepsiCo Positive journey to deliver positive outcomes for the planet and people. Our ambitious climate goal will guide us on the steep but critical path forward -- there is simply no other option but immediate and aggressive action."
Informed by leading science-based measures and cost-benefit analysis, PepsiCo's sustainability strategy focuses on the areas where it can have the most impact, while creating scalable models and partnerships for accelerated progress across the full value chain. The company's emissions target aligns to the Business Ambition for 1.5°C pledge and has been approved by the Science Based Targets initiative as the most ambitious designation available through their process.
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PepsiCo was recently named to CDP's Climate A List and is also engaged in multiple partnerships and coalitions aimed at driving action on climate change, including the One Trillion Trees initiative, The Climate Group's RE100, Renewable Energy Buyers Alliance, We Are Still In and the U.S. Climate Leadership Council.
