PepsiCo to double its science-based climate targets
In its latest announcement, PepsiCo has established bold plans targeting absolute reduction of greenhouse gas (GHG) emissions across its value chain by over 40% by 2030. In addition, the company has pledged to achieve net-zero emissions by 2040, a decade ahead of the Paris Agreement.
Specific details of the plans include, absolute reduction of GHG emissions across its direct operations (Scope 1 and 2) by 75%, and by 40% its indirect value chain (Scope 3) by 2030, with a 2015 baseline.
In meeting these targets, PepsiCo expects to reduce over 26 million metric tons of GHG emissions, equal to removing over five million cars from the road for a year.
“The severe impacts from climate change are worsening, and we must accelerate the urgent systemic changes needed to address it. 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,” commented PepsiCo Chairman and CEO Ramon Laguarta.
PepsiCo reports that its overall action plan is centered around mitigation, reducing GHG emissions for decarbonisation in its operations and supply chain, and resilience to reduce vulnerabilities by incorporating climate risk into its business continuity plans.
Did you know? Since 2015, PepsiCo has already reduced its total emissions by 6% in Europe.
“There is no vaccine for climate change. But our planet is in crisis. PepsiCo’s new climate goal will double our efforts on emission reductions. This impacts both our company-owned businesses but also includes our suppliers and bottlers. Simply put, we all have to do more,” added Silviu Popovici, Chief Executive Officer, PepsiCo Europe.