PepsiCo CEO on pep+: ‘our ambition is to make our products healthier’
- PepsiCo announces pep+, an end-to-end strategic transformation built around sustainability.
- The beverage giant wants to significantly cut back on the use of virgin plastic by 2030.
- CEO Ramon Laguarta discusses the new sustainability initiative on CNBC's "Closing Bell".
PepsiCo Inc (NASDAQ: PEP) announced pep+ (pep Positive) – an end-to-end strategic transformation built around sustainability on Wednesday. Shares of the $215 billion company closed more than 0.5% up today.
As part of the new initiative, the beverage giant wants to hit a few ambitious targets, including net-zero emissions by 2040, net water positive by 2030, and a 50% less use of virgin plastic per serving by 2030.
CEO Ramon Laguarta’s remarks on CNBC’s “Closing Bell”
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On CNBC’s “Closing Bell”, CEO Ramon Laguarta said brands that are positioning themselves as sustainable are growing faster. Commenting further on pep+, he said:
One of our responsibilities as a multi-billion-dollar company that owns 23 brands and engages with consumers from around the world is to spread awareness about these societal problems and educate consumers to make different decisions when they shop for food or beverages.
PepsiCo aims at outperforming rivals with pep+ that appeals to consumers who wish to know what’s behind the company and its products.
PepsiCo wants Lays to be the lowest sodium potato chips in the market
Laguarta also said that PepsiCo was actively working on minimising the use of ingredients in its products that are not good for health.
The future of some of our brands holds in being healthier. For example, in the case of Lays, we want to be the lowest sodium potato chips in the market, even below what WHO is setting a standard for. So, our ambition is to keep making our products better.
PepsiCo also wants to scale “regenerative farming” by 2030, which will help reverse climate change, the CEO added.