Today's top stories for PepsiCo Inc. (NASDAQ: PEP) cover supply chain, consumer preferences, and legal news.
Supply Chain News: PepsiCo and Walmart Inc (NYSE: WMT) have announced a 7-year collaboration to invest $120 million in regenerative agriculture, aiming to improve soil health and water quality.
The partnership will support US and Canadian farmers in adopting regenerative agriculture practices on over 2 million acres of farmland.
This initiative is expected to result in approximately 4 million metric tons of greenhouse gas emission reductions and removals by 2030.
Adopting regenerative agriculture practices is crucial for the food system's sustainability and aligns with PepsiCo's efforts to mitigate supply chain risks, Foodservice Footprint reports.
Consumer Preferences News: PepsiCo has failed to provide details on its progress towards its goal of reaching 20% reusable beverage packaging, according to its recently published sustainability report.
The company also reported a 4% increase in its total plastic use from 2021 to 2022, along with an 11% increase in the use of virgin plastic. Oceana, an ocean conservation organization, has called on PepsiCo to take its reusable goal seriously and increase the use of refillable and reusable containers.
Oceana emphasizes the importance of PepsiCo reporting on its goal, ensuring that its plans to increase sales of SodaStream machines and powders actually reduce plastic use, and setting goals for introducing reusable bottles in new markets.
The organization urges PepsiCo and its bottlers to transition to reusable bottles immediately to protect the oceans, the company said in a filing.
Legal News: PepsiCo has successfully defended itself against a trademark infringement lawsuit filed by Rise Brewing Co.
The court ruled in favor of PepsiCo, stating that there was significant differentiation between the two brands. Rise Brewing accused PepsiCo of exploiting the "Rise" brand name for its MTN Dew Rise Energy drink.
However, the court sided with PepsiCo's argument that the branding and appearance of the energy drink were distinct from Rise Brewing's products.
The judge ordered the dissolution of the case, stating that Rise Brewing could not prove that PepsiCo's energy drink confused consumers, EconoTimes reports.