PepsiCo announces over $375M in savings from sustainability initiatives
- PepsiCo, Inc. announced savings of more than $375 million through sustainability efforts since the company established its sustainability goals in 2010. Savings came from "the continued progress of the company's water, energy, packaging and waste-reduction initiatives," according to a news release.
- The initiatives are known as Performance with Purpose, "which is PepsiCo's vision to deliver financial performance over the long term by integrating sustainability into its business strategy, leaving a positive imprint on society and the environment," the company said.
- The company surpassed several of its sustainability goals, including reducing water use per unit of production of 23% since 2006 over the targeted 20% by 2015's close and diverting 93% of its waste from reaching landfills over the targeted 90% of waste.
Sustainability efforts are widespread throughout the food and beverage industry. In its most recent run of the "Behind the Brands" campaign, Oxfam International ranked PepsiCo as the No. 4 most sustainable company of the 10 largest food and beverage companies. PepsiCo's main competitor Coca-Cola came in at No. 3, Nestle SA at No. 2, and Unilever at No. 1.
In addition to protecting the environment, efforts have also been meant to further protect consumers. PepsiCo committed to reducing levels of sodium, added sugars, and saturated fats in its food and beverage products, and the company reduced those levels in several key countries. PepsiCo is also expanding its nutrition business, which comprised about 20% of the company's 2014 net revenue.
- PepsiCo, Inc. via Food Manufacturing PepsiCo Sustainability Initiatives Delivered More Than $375 Million in Estimated Cost Savings Since 2010