PURCHASE, N.Y., June 27, 2019 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today announced that LIFEWTR will be packaged in 100% rPET (recycled polyethylene terephthalate), and bubly will no longer be packaged in plastic. The company's AQUAFINA® water brand will also offer aluminum can packaging in U.S. food service outlets, while the brand tests the move in retail. The changes, which all go into effect next year, are expected to eliminate more than 8,000 metric tons of virgin plastic and approximately 11,000 metric tons of greenhouse gas emissions, representing the latest ambitious steps in the company's sustainability journey and pursuit of a circular economy for plastics. They reinforce and advance PepsiCo's goals to by 2025 make 100% of its packaging recyclable, compostable, or biodegradable and use 25% recycled plastic content in all its plastic packaging.
"Tackling plastic waste is one of my top priorities and I take this challenge personally," PepsiCo Chairman and CEO Ramon Laguarta. "As one of the world's leading food and beverage companies, we recognize the significant role PepsiCo can play in helping to change the way society makes, uses, and disposes of plastics. We are doing our part to address the issue head on by reducing, recycling and reinventing our packaging to make it more sustainable, and we won't stop until we live in a world where plastics are renewed and reused."
Naked Juice, a category leader in premium fruit and veggie juices and smoothies, has been working since 2009 to ensure its bottles are made of 100% rPET and can be turned into bottles again and again. By making its bottles with rPET, the brand also uses about 25% less energy than if it used virgin plastic.
PepsiCo is one of the largest users of food-grade recycled PET in the world, and the company is also working to help reliably increase the supply needed to meet its packaging goals. In tandem with current suppliers and partners like The Recycling Partnership, Loop Industries, Alliance to End Plastic Waste, and World Economic Forum's Global Plastic Action Partnership (GPAP), PepsiCo is aiming to both increase recycling rates and improve the plastic recycling infrastructure. Learn more about our sustainable packaging vision here.
"We are really excited to evolve our packaging across PepsiCo's water portfolio to make a positive impact," says Stacy Taffet, Vice President Water portfolio for PepsiCo. "We created LIFEWTR to be an inspirational and purpose-driven brand, and we're expanding that vision by using recycled packaging to deliver our premium water. At the same time, bubly, our sparkling water brand that is full of flavor and personality, has already shaken up the sparkling water category and will continue to do so with this bold move."
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit www.pepsico.com
Statements in this communication that are "forward‐looking statements" are based on currently available information, operating plans and projections about future events and trends. Terminology such as "grow," "plan," "will" or similar statements or variations of such words and other similar expressions are intended to identify forward‐looking statements, although not all forward‐looking statements contain such terms. Forward‐looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward‐looking statements. Such risks and uncertainties include, but are not limited to: changes in demand for PepsiCo's products, as a result of changes in consumer preferences or otherwise; changes in laws related to the use or disposal of plastics or other packaging of PepsiCo's products; changes in, or failure to comply with, applicable laws and regulations; failure to successfully complete or integrate acquisitions and joint ventures into PepsiCo's existing operations or to complete or manage divestitures or refranchisings; PepsiCo's ability to recruit, hire or retain key employees or a highly skilled and diverse workforce; or other factors that may adversely affect the price of PepsiCo's publicly traded securities and financial performance.
For additional information on these and other factors that could cause PepsiCo's actual results to materially differ from those set forth herein, please see PepsiCo's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10‐K and subsequent reports on Forms 10‐Q and 8‐K. Investors are cautioned not to place undue reliance on any such forward‐looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward‐looking statements, whether as a result of new information, future events or otherwise.
SOURCE PepsiCo, Inc.