PURCHASE, N.Y., March 18, 2014 /PRNewswire/ -- PepsiCo (NYSE:PEP) believes acting ethically and responsibly is not only the right thing to do, but also the right thing for our business. To build on the policies and programs PepsiCo has already established in a number of areas including supplier conduct, sustainable agriculture and environmental health and safety, the company is now rolling out a land policy with zero tolerance for illegal activities in our supply chain and for land displacements of any legitimate land tenure holders.
"Agriculture is an integral part of PepsiCo's supply chain," said Paul Boykas, vice president, public policy for PepsiCo. "Regardless of the source of the commodity – whether from suppliers, directly or indirectly, a farm or processor – this land policy defines our intentions and the actions we as a company will take to recognize land rights throughout our supply chain."
This land policy complements PepsiCo's Supplier Code of Conduct, which is being incorporated as part of the contracting process with key strategic suppliers, and addresses the areas of labor practices, associate health and safety, environmental management and business integrity. The land policy, which was developed in consultation with Oxfam and other third-party experts, outlines processes and assessments to help meet our zero tolerance commitment.
In addition to the land policy, PepsiCo will continue leveraging external third-party expertise to help meet its goals and commitments. For instance PepsiCo is a member of the Roundtable on Sustainable Palm Oil (RSPO), which was founded to increase the supply of sustainable palm oil products. Through the RSPO, we have committed to exclusively purchase 100 percent certified sustainable palm oil for our products by 2015 and 100 percent physical RSPO-certified palm oil by 2020. PepsiCo is also a member of Bonsucro, a global nonprofit dedicated to reducing the environmental and social impacts of sugarcane production while recognizing the need for economic viability. Moving forward, PepsiCo will work with Bonsucro and other relevant stakeholders to evaluate certification standards that can help the company meet a goal of 100% sustainable cane sugar by 2020.
As part of our commitment to responsible land rights practices, PepsiCo intends to join the United Nations Committee on World Food Security.
"We value the partnership, insights and collaboration of governments, local communities, NGOs and other external organizations in our efforts. We remain committed to our mutual goal of recognizing and respecting all human rights," said Boykas.
Additional information about PepsiCo's policies and guidelines, including the new land policy, and other sustainability initiatives is available on the company's website at http://www.pepsico.com/Purpose/Performance-with-Purpose/Policies.
About PepsiCo
PepsiCo is a global food and beverage leader with net revenues of more than $65 billion and a product portfolio that includes 22 brands that generate more than $1 billion each in annual retail sales. Our main businesses – Quaker, Tropicana, Gatorade, Frito-Lay and Pepsi-Cola – make hundreds of enjoyable foods and beverages that are loved throughout the world. PepsiCo's people are united by our unique commitment to sustainable growth by investing in a healthier future for people and our planet, which we believe also means a more successful future for PepsiCo. We call this commitment Performance with Purpose: PepsiCo's promise to provide a wide range of foods and beverages from treats to healthy eats; to find innovative ways to minimize our impact on the environment by conserving energy and water and reducing packaging volume; to provide a great workplace for our associates; and to respect, support and invest in the local communities where we operate. For more information, please visit www.pepsico.com.
Cautionary Statement
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 "aim," "anticipate," "believe," "drive," "estimate," "expect," "expressed confidence," "forecast," "future," "goals," "guidance," "intend," "may," "plan," "position," "potential," "project," " seek," "should," "strategy," "target," "will" or similar statements or variations of such terms 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 the legal and regulatory environment; imposition of new taxes, disagreements with tax authorities or additional tax liabilities; PepsiCo's ability to compete effectively; PepsiCo's ability to grow its business in developing and emerging markets or unstable political conditions, civil unrest or other developments and risks in the markets where PepsiCo's products are sold; unfavorable economic conditions in the countries in which PepsiCo operates; increased costs, disruption of supply or shortages of raw materials and other supplies; failure to realize anticipated benefits from PepsiCo's productivity initiatives or global operating model; disruption of PepsiCo's supply chain; damage to PepsiCo's reputation; 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 hire or retain key employees or a highly skilled and diverse workforce; trade consolidation or the loss of any key customer; any downgrade or potential downgrade of PepsiCo's credit ratings; PepsiCo's ability to protect its information systems against a cybersecurity incident; PepsiCo's ability to build and sustain proper information technology infrastructure, successfully implement its ongoing business transformation initiative or share services for certain functions effectively; fluctuations in exchange rates; climate change, or legal, regulatory or market measures to address climate change; failure to successfully negotiate collective bargaining agreements or strikes or work stoppages; any infringement of or challenge to PepsiCo's intellectual property rights; potential liabilities and costs from litigation or legal proceedings; and other factors that may adversely affect the price of PepsiCo's common stock 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.
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SOURCE PepsiCo