PURCHASE, N.Y. — PepsiCo Inc. is expanding its sustainable plastics vision with a new goal to use 25-percent recycled content in its plastic packaging by 2025.
To reach this goal, PepsiCo will collaborate with suppliers and partners to increase consumer education, fostering cross-industry and public-private partnerships, and advocating for improved recycling infrastructure and regulatory reform, according to the company.
The goal includes an aim specific to polyethylene terephthalate (PET) beverage bottles to achieve 33-percent recycled PET content by 2025.
"PepsiCo's sustainable plastics vision is to build a PepsiCo where plastics need never become waste. We intend to achieve that vision by reducing, recycling and reusing, and reinventing our plastic packaging — and leading global change through partnerships," said Mehmood Khan, vice chairman and chief scientific officer at PepsiCo.
"Already, PepsiCo is one of the world's largest users of food-grade recycled PET. To further boost recycled content across all plastic packaging and drive progress towards a circular economy for plastics, it is vital to dramatically increase global waste collection and recycling rates through investment in recycling infrastructure and technology,” he added.
PepsiCo's new goal builds upon goals the company announced in 2016 under its Performance with Purpose 2025 Agenda, which aims to design 100 percent of its packaging to be recyclable, compostable or biodegradable; to increase its use of recycled materials; to reduce the carbon impact of its packaging; and, in partnership with the PepsiCo Foundation, to work to increase recycling rates.
So far, Pepsi has made progress against its sustainable plastics vision and related Performance with Purpose 2025 Agenda, including:
PepsiCo entered into a multi-year supply agreement with Loop Industries to incorporate Loop PET plastic, which is 100-percent recycled material, into its product packaging by mid-2020. Loop's transformational chemical recycling technology allows for low value plastics to be diverted, recovered and recycled continuously into new, virgin-quality plastic.
The company announced it would collaborate in the Global Plastic Action Partnership, led by the World Economic Forum, which will work with stakeholders in coastal economies, including in South East Asia, to show how businesses, communities and governments can redesign their waste management systems to create a circular model.
The PepsiCo Foundation and nonprofit The Recycling Partnership announced the launch of "All in on Recycling," the largest-ever industry-wide residential recycling challenge to make it easier for 25 million families across the United States to recycle.
Purchase-based PepsiCo generated more than $63 billion in net revenue in 2017, 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.