PepsiCo, Inc. (PEP), a food and drink company, on Wednesday, announced the launch of its new arm, PepsiCo Positive (pep+) to boost sustainability and reduce emissions in all of its 23 billion-dollar brands functioning around the globe.
The New York-headquartered firm said it is working to spread regenerative practices to restore and protect the Earth across land equal to the company’s entire agricultural footprint of approximately seven million acres. Its strategy aims to sustainably source key crops and ingredients and to improve the livelihoods of over 250,000 people in its agricultural supply chain.
As announced previously, the beverages firm aims to achieve net-zero emissions by 2040 and become net water positive within eight years.
The American company also announced new goals to cut virgin plastic per serving by 50 percent across its global food and beverage portfolio by 2030, using 50 percent recycled content in its plastic packaging and scaling the SodaStream business globally, a platform that almost entirely eliminates the need for beverage packaging, among other levers.
The company is also expected to move ahead with its over $570 million diversity, equity, and inclusion strategy.
It has introduced a new global workforce volunteering program entitled, ‘One Smile at a Time’, to encourage, support and empower each one of its 291,000 employees to make positive impacts in their local communities.
PepsiCo said it has been investing in breakthrough food packaging technology and is now introducing a fully compostable bag made with plant-based materials. Starting with Off The Eaten Path, one of Frito-Lay’s plant-based brands, this industrially compostable packaging is expected to be available to consumers in the U.S. at Whole Foods stores beginning this month.
Notably, the company also announced that it is willing to work with other companies to license the same technology at no cost given the importance of creating a circular food packaging system.