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PepsiCo's 'pep+' transformation plan includes slashing plastic use, expanding SodaStream business

Shares of PepsiCo Inc. (PEP) unveiled "pep+" on Wednesday, which the food and beverage giant calls its plan of transformation to create growth and value with sustainability to be net water positive by 2030 and achieve net-zero emissions by 2040. Pepsico's stock gained 0.4% in premarket trading. Among the pep+ goals, cutting virgin plastic per serving by 50% for food and beverage brands by 2030, using 50% recycled content in its plastic packaging and growing the SodaStream business with an aim to avoid more than 200 billion plastic bottles by 2030. The company plans to evolve its portfolio into more sustainable places, including plant-based proteins, nuts and seeds and whole grains. "Pep+ directly links the future of our business with the future of our planet, for the benefit of both - from how we source ingredients and make and sell our products; to how we inspire consumers through our iconic brands to make better choices for themselves and the planet; to how we support communities and improve livelihoods throughout our supply chain," said Chief Sustainability Officer Jim Andrew. Pepsico's stock has gained 4.6% year to date through Tuesday, while the S&P 500 has advanced 18.3%.

-Tomi Kilgore


(END) Dow Jones Newswires

09-15-21 0615ET

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