Boston, April 30, 2024 – Shareholders will have their say on Green Century’s shareholder proposal asking PepsiCo to assess and report its impacts on nature & biodiversity at its May 1 annual general meeting. PepsiCo touts itself as an environmentally responsible company, but it does not publish a comprehensive report on its nature-related dependencies, impacts, opportunities, and risks.
“PepsiCo shouldn’t take nature for granted,” said Green Century President Leslie Samuelrich. “The company depends on nature for the ingredients that go into its snacks and the water that goes into its sodas. It should report clearly and fully on how its operations and sourcing impact nature, and how it can lessen that impact.”
Investors Increasingly Concerned with Nature & Biodiversity
Investor concern over nature and biodiversity loss have been on the rise as the planet has experienced increased wildfires, megadroughts, the loss of pollinators, and widespread plastic pollution. The Taskforce on Nature-related Financial Disclosure (TNFD) announced in January that 320 companies had committed to reporting under its framework.
Green Century’s resolution at PepsiCo is among the first asking a company to report under TNFD. The vote will give an indication of how the broader investment community views this issue. Several large investment groups have signaled their support in advance of the vote, including Allianz Global Investors, Norges Bank Investment Management, the New York City Comptroller, and Storebrand Asset Management.
“Companies in the food and beverage sector are highly reliant on nature and they have a major impact on nature through their sourcing and packaging,” said Andrew Shalit, shareholder advocate at Green Century. “PepsiCo owes investors a full accounting of the risks it faces and the impact it has, and it owes the planet a full assessment of how it can make its supply chain more nature positive.”
PepsiCo’s annual general meeting will be held on May 1. The result of the vote will be announced in the following days.