PepsiCo will cut back on the use of virgin plastic and expand its SodaStream carbonated-water business to more markets amid growing calls to combat climate change, although some environmental groups want the company to do more.
As part of a new initiative called "pep+", the food and beverage giant said on Wednesday it was aiming to reduce virgin plastic use per serving by half across all brands by 2030 and use 50% recycled content in all its plastic packaging.
It also plans to focus on healthier food by introducing plant-based protein snacks in partnership with Beyond Meat Inc. PepsiCo is targeting early 2022 for its first Beyond Meat products, Chief Executive Ramon Laguarta told CNBC in an interview.
The moves come as PepsiCo and rival Coca-Cola have become new targets for global activism, given the amount of single-use plastic waste they generate. The companies have also featured on NGO Break Free From Plastic's list of the "top global polluters" for the last three years.