Summary
PepsiCo announced changes to its climate and plastic packaging goals, moving its net-zero emissions target to 2050 from 2040 and relaxing some near-term goals. The company explained these changes by noting slower global progress on climate action. They also emphasized aligning their goals with science-based targets to meet international climate agreements.
Key Facts
- PepsiCo extended its target to achieve net-zero emissions from 2040 to 2050.
- The company relaxed near-term goals for reducing emissions in its supply chain, known as Scope 3 emissions.
- Goals for plastic packaging have been adjusted, including the removal of a target for reusable containers.
- International progress on climate and plastic waste did not meet expectations, affecting PepsiCo's ability to meet its initial targets.
- PepsiCo aims to ensure its goals align with science-based targets for limiting global warming according to the Paris Agreement.
- The company believes some of its sustainability goals have become more aggressive rather than weaker.
- Scope 3 emissions depend on broader system changes, which have been slower than expected.
