PepsiCo

Soft Drinks

PEP

$ 174 2

Share price

$ 240 bn

Market Cap

$ 271 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.58x the weighted average for S&P 500

FY2020

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Stronger than the -5.1% weighted average for S&P 500

FY2021

PepsiCo aims to reduce Scope 1 + 2 by 75% by 2030 from a base year 2015

1.5°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.9% weighted average for S&P 500

FY2021

PepsiCo aims to achieve net zero for all Scopes by 2040

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

PepsiCo reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 4,410 Kt (-568 /-11.4% y-o-y). Also positively, carbon intensity plunged to 63 t (-11 /-15.4% y-o-y).

PepsiCo's Scope 3 emissions grew to 54,629 Kt (+4,164/+8.3% y-o-y). The time series has been volatile over the last few periods.

The company is committed to reducing Scope 1 + 2 by 75% by 2030 from a base year 2015, which translates into the estimated reduction of -297 Kt per annum over the period of FY2021 - FY2030. This science-based target is aligned with Paris Agreement to limit global warming to 1.5°C above pre-industrial levels.

Also, the company commits to achieving net zero for all Scopes by 2040, which translates into the estimated reduction of -2,952 Kt per annum over the period of FY2021 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2020Q4	4,410	3,553	857	54,629	70,372	63
2019Q4	4,978	3,552	1,425	50,465	67,161	74
2018Q4	5,135	3,577	1,558	62,818	64,661	79
2017Q4	5,448	3,735	1,714	62,818	63,525	86
2015Q4	5,763	3,758	2,006		63,056	91