PepsiCo, Inc. (NYSE: PEP) has risen 11.94% since September 19, 2018, and is uptrend. It has outperformed by 11.94% of the S&P500.
PepsiCo has announced it will aim to reduce 35% of virgin plastic content across its beverage portfolio by 2025, which equates to the elimination of 2.5 million metric tons of cumulative virgin plastic, as part of its sustainability strategy.
According to the company, this target will be achieved through the increased use of recycled content and alternative packaging materials by many of its beverage brands, including Bubly, Aquafina and Lifewater.
PepsiCo also announced its intention to expand the SodaStream business – which it acquired for $3.2 billion last year – claiming that the expansion of the unit will stop the use of approximately 67 billion single-use plastics by 2025.
This new target builds upon the company’s existing sustainability targets, which include goals to make 100% of its packaging recyclable, compostable, or biodegradable; and increase its use of recycled content in plastic packaging to 25%.
PepsiCo LONG (Buy)
ENTER AT: 136.02