Keurig Dr Pepper highlights progress towards in latest Corporate Responsibility Report
Keurig Dr Pepper announced the publication of its 2023 Corporate Responsibility Report.
The annual report highlights progress made toward its corporate responsibility goals and priorities, including strong performance across four pillars of activity including Environment, Supply Chain, Health & Well-Being and People & Communities.
"We recently elevated Drink Well. Do Good., our longstanding corporate responsibility approach, to be KDP's company purpose. Our purpose plays a critical role in guiding how we go about delivering positive impact for our stakeholders through our strategic framework and business priorities," says Tim Cofer, chief executive officer with Keurig Dr Pepper in a release accompanying the report’s announcement. "This year's report highlights bold actions and strong partnerships to advance our multi-year agenda."
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Key points highlighted in this year’s reports include:
- Reducing Emissions: KDP continues to make significant progress on its 2030 goals to reduce Scope 1 and 2 emissions by 30% and Scope 3 emissions in select categories by 15% compared to 2018. For 2023, the Company reports a 21% reduction in Scope 1 and 2 emissions and a 12% reduction in Scope 3 emissions in select categories, driven by actions such as renewable electricity purchases and advancing fleet electrification with 18 electric vehicles deployed in Canada.
- Advancing a Circular Economy: KDP remains committed to reducing its virgin plastic use by 20% by 2025, achieved in part by incorporating more post-consumer recycled content across its packaging portfolio. In 2023, the Company achieved a 15% virgin plastic reduction compared to 2019 and incorporated 27% post-consumer recycled content in its packaging portfolio, including continued conversion of Bai and Core Hydration+ products to 100% recycled plastic bottles1.
- Building Sustainable Supply Chains: KDP made progress on its 2030 goal to support regenerative agriculture and conservation practices on 250,000 acres of land by reaching more than 43,000 acres of land in 2023 and, for the first time, reported acreage from its apple supply chain on behalf of the Mott's brand. Furthermore, the company reported that it responsibly sourced 100% of its coffee and cocoa in 20232.
- Delivering Positive Hydration Products: KDP remains on track to provide positive hydration in 60% of its products by 2025. In 2023, the company's investments in innovation, renovation and partnerships resulted in 59% of its portfolio providing positive hydration, an increase from 57% at year-end 2022. In addition, the Ccmpany continued to expand the distribution of better-for-you offerings to new and varied markets to reach a diverse mix of consumers through activities including local in-store marketing and merchandising collaborations.
- Investing in People and Communities: KDP supported community engagement through partnerships and employee volunteerism, including activation of its multi-year community impact partnership with the Red Cross. The Company also made notable progress toward its 2025 goals to increase diverse representation with women and people of color in director and above positions through attraction, retention and development efforts.
"Keurig Dr Pepper's corporate responsibility commitments and progress are deeply intertwined with policy progression and partnerships," adds Monique Oxender, chief corporate affairs officer. "It is at this intersection where necessary technologies and behaviors can flourish, paving the way for enduring, impactful solutions."
This report was created with reference to the Global Reporting Initiative (GRI) Index and is in alignment with the Sustainable Accounting Standards Board (SASB) Standards and the Task Force on Climate-Related Financial Disclosures (TCFD).
