By IB Times Staff Reporter: Subscribe to IB's RSS feed
September 8, 2010 10:42 AM EDT
PepsiCo Inc. (NYSE: PEP), on Tuesday released its first water report which gave details on the company's efforts to conserve and recycle water and provide increased access to clean water globally.
"Currently, around one billion people are without access to clean drinking water, making the world water crisis one of the most pressing challenges of our time," said Indra Nooyi, Chairman & CEO, PepsiCo.
"As a global food and beverage company, we have an inherent responsibility to be good stewards of this increasingly limited resource, and we are proud of the progress made so far on our journey to minimize our water footprint while expanding access to clean water around the globe,” she added.
The company published the report titled "Water Stewardship: Good for Business. Good for Society” coinciding with its participation in Stockholm International Water Institute's (SIWI) World Water Week, an annual meeting discussing global water-related issues.
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Taking a lead in recognizing people's right to water, the company has set new goals to improve its water efficiency and safeguard the resources in the communities in which it operates.
The company aims to improve its water use efficiency by 20 percent per unit of production by 2015 with 2006 as baseline, the report said.
In developing countries, it aims to facilitate access to safe water to three million people by the end of 2015. It earmarks $15 million to provide clean water access to one million people in these countries by the end of 2011.
According to the report, the company also tries to reach "positive water balance" in which it attempts to return more water than used in its facilities in water-distressed areas.
Besides setting goals, the company said that it had saved 12 billion liters of water in 2009 through water efficiency improvements, a 15 percent improvement compared with 2006 levels.
As a result of water filtration and purification system, its Frito-Lay facility in Casa Grande, Arizona, recycles and reuses 80 percent of the water used in its production, the report said.
One of the notable achievements is reducing the water usage by 45 percent, saving 3 billion liters at its manufacturing facilities in India since 2005, the report says.
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