Food and beverage giant PepsiCo announced today a new goal to double the proportion of beverage servings provided in reusable or refillable packaging to 20%, from 10% currently, by 2030.
The company outlined a series of approaches it aims to pursue in order to achieve its new packaging goal, including expanding its sparkling water business SodaStream, both at home and in workplaces through SodaStream Professional. PepsiCo acquired SodaStream for over $3.2 billion in 2018. Last year, SodaStream committed to enable the avoidance of nearly 78 billion single-use plastic bottles by 2025.
Other actions highlighted by the company include partnering with bottlers to build out refillable plastic and glass bottle offerings, growing its fountain drinks business with reusable cups, and accelerating growth in powders and concentrates.
The announcement follows the launch last year by PepsiCo of its comprehensive sustainability framework, pep+, encompassing a broad range of Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More initiatives across agriculture practices, climate, water and packaging sustainability, and consumer health. The company also introduced a series of packaging goals, including commitments to cut virgin plastic per serving by 50% across its global food & beverage portfolio by 2030, and use 50% recycled content in its plastic packaging.
Jim Andrew, Chief Sustainability Officer at PepsiCo, said:
“PepsiCo will accelerate our investment in disruptive innovation and advocate for policies that allow us to scale up reusable packaging options, platforms and programs so that we can offer consumers a wide variety of alternative ways to enjoy their favorite beverages while moving away from reliance on single-use packaging.”
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