Benzinga | Sep 16, 2021 11:07AM EDT

PepsiCo Makes Environmentally Friendly Pledge: What You Need To Know

Climate change has been roiling different parts of the globe in the form of intense storms and fires, leaving some companies desiring to change the way they do business.

Recently, some of the world's most powerful companies like Starbucks (NASDAQ:SBUX), Amazon (NASDAQ:AMZN) and Apple (NASDAQ:APPL) have decided to become carbon neutral in the coming decades.

What Happened Now, PepsiCo (NASDAQ:PEP) is making a pledge of its own. On Wednesday, the company announced it will halve its plastic packaging by 2030 and plans to offer more plant-based snacks in partnership with Beyond Meat (NASDAQ:BYND).

"We're seeing that brands that are positioning themselves as sustainable, brands with more purpose, are growing faster than the average (in) the market," PepsiCo Chairman and CEO Ramon Laguarta told CNBC.

Why It Matters Recent survey data suggests consumers are much more interested in sustainably developed products. A global report found there was a 71% increase in online searches for sustainably made goods over the last five years.

These changes appear to be particularly relevant for companies attempting to reach a younger market, as those individuals are much more likely to be concerned about climate change compared with their older peers.

Photo: Erik Mclean via Unsplash.