In 2021, PepsiCo introduced a new North Star to guide our work: pep+ (“PEP Positive”). This is not just a business strategy; it is a transformative journey across our operations, from production to marketing to distribution. It is our vision to deliver a more sustainable, people-centric future, driving growth and value, for everyone.

Since 2021, the importance of our strategy has only grown clearer. We are dependent on the earth, relying on its resources to grow crops and produce the foods, snacks and drinks that bring joy and smiles to millions of people every day. pep+ is our strategy to nurture the soil, air, and water that sustain us, positioning our company for future success and seeking to positively impact the communities we touch around the world, today and for future generations.

The pep+ expo which we held at our New York headquarters last year exemplified our work. It was a gathering of minds and passion, where associates showcased sustainable farming practices, cutting-edge technologies, and innovative packaging solutions. The stories shared there were a testament to the deep integration of pep+ into the operations of PepsiCo.

This spirit of transformation echoed across the globe, with over 20 additional expos demonstrating our scale of change. Our efforts include digital tools saving water, programs aiming to support the communities in which we operate, and ongoing work to become resilient to climate change.

Last year, we made tremendous progress against many of our goals while also seeking to address challenges to others. Virgin plastic use and scope 1 and 2 emissions went down compared to 2022. We doubled our regenerative farming footprint. We made further improvements to water efficiency and introduced innovative new packaging. We continue to improve the nutritional qualities of our biggest selling brands. We set new goals on sodium and on including positive nutrients, such as legumes and whole grains, across our food portfolio. And on beverages we made low and zero sugar drinks the key pillar of our growth strategy.

At the same time, we have made real strides in our goal of improving the lives of many farmers through dedicated programming aiming to support economic prosperity, cut emissions, and increased our use of recycled plastic. Our focus on diversity is unwavering, with women and underrepresented groups making up a growing portion of our leadership.

None of this would be possible without our people, who have woven pep+ into the fabric of our culture. From leadership to grassroots initiatives, our associates are the driving force behind our progress.

Yet, our journey is far from complete. We aim to continue to be best-inclass company, and we know that requires creative collaborations and bold partnerships. This year, we've forged alliances across sectors, pushing the boundaries of what is possible in sustainability.

We are innovating, experimenting, and sharing both the risks and rewards. Together, we are making changes that matter – for our planet, our communities, and our business. It is a challenging path, but every step is worth it.

With pep+ guiding the company, we are building a future that is better for people, the planet, and our business.

Learn more about our progress in our most recent sustainability report.