PepsiCo to intensify climate effort, achieve net-zero emissions by 2040
Having achieved its goal of transitioning its U.S. direct operations to 100% renewable electricity in the 2020, PepsiCo has announced its plans to intensify its effort to actualize its aim of reducing greenhouse gas (GHG) emissions across its value chain by more than 40% by 2030 and its commitment to achieve net-zero emissions 10 years ahead of deadline
With 12 countries in its Europe sector already utilizing 100% renewable electricity, the giant FMCG noted that: “Specifically, PepsiCo plans to reduce absolute GHG emissions across its direct operations (Scope 1 and 2) by 75% and its indirect value chain (Scope 3) by 40% by 2030 (2015 baseline).”
“This 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 five million cars off the road for a full year,” the company stated in a statement.”
Commenting on the plan, PepsiCo Chairman and CEO Ramon Laguarta, explained that it is a matter of absolute necessity for the company to make a meaningful contribution to net-zero emission goal. In his words: “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.”
Commending the company’s effort, Nate Aden, Senior Associate at World Resources Institute, one of the Science Based Targets initiative partner, described the move as “ambitious goal” and noted that companies are saddled with bigger responsibility in the project.
“We congratulate PepsiCo on setting an emissions reduction target consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement.”
“Companies have a vital role to play in driving down global emissions, and it is encouraging to see major players, such as PepsiCo, taking ambitious action.”
The company clarified noted that its emission reduction plan will cut across agriculture, packaging, distribution and operations.
“With operations in more than 200 countries and territories around the world and approximately 260,000 employees, the company’s emissions reduction plan will be comprehensive across priority areas such as agriculture, packaging, distribution and operations.”
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