Keurig Dr Pepper Highlights 2022 Corporate Responsibility Progress in Latest Drink Well. Do Good. Report
BURLINGTON, Mass. and FRISCO, Texas, June 22, 2023 /PRNewswire/ — Keurig Dr Pepper Inc. (NASDAQ: KDP) today unveiled its 2022 Drink Well. Do Good. Corporate Responsibility Report. The Drink Well. Do Good. report covers a range of environmental, social and governance (ESG) topics and showcases key 2022 progress toward fulfilling commitments across four foundational pillars: Environment, Supply Chain, Health and Well-Being and People & Communities.
Notable achievements from KDP’s 2022 corporate responsibility report include:
- Increasing Renewable Electricity Sourcing: KDP remains committed to sourcing 100% of its electricity from renewable sources by 2025. The Company reported reductions in overall emissions, facilitated in part by purchasing 74% of electricity from renewable sources (up from 62% in 2021).
- Reducing Virgin Plastic: With a goal to achieve a 20% reduction in virgin plastic across its packaging portfolio by 2025, KDP made a noteworthy jump by reducing usage by 11% in 2022 versus 6% the year prior. This was enabled in part by the Company’s efforts to significantly increase recycled content in plastic beverage bottles, reaching 18% in 2022, up from 11% in 2021.
- Advancing Regenerative Agriculture and Conservation: In 2021, KDP committed to support regenerative agriculture and conservation on 250,000 acres of land by 2030. Reporting progress for the first year, KDP achieved 11,296 acres in 2022.
- Maintaining 100% Responsible Sourcing1: KDP maintained 100% responsibly sourced coffee and cocoa in 2022 and was named the largest buyer of Fair Trade Certified coffee in the world for the 13th consecutive year.
- Expanding Positive Hydration: KDP remains dedicated to its goal of providing positive hydration in 60% of products by 2025 and, in 2022, achieved 57%. Beyond providing a balanced portfolio, the Company is focused on improving access to better-for-you beverages and activated a retail merchandising pilot in an under-served neighborhood with encouraging results.
- Supporting Diversity and Inclusion: The Company made important progress on its 2025 goals to increase female and people of color representation in director and above positions by 25%. Female representation in those levels increased to 31% in 2022 and people of color representation increased to 18%.
"I’m proud of the progress we’ve made toward our ambitious corporate responsibility agenda in 2022," said Monique Oxender, SVP & Chief Sustainability Officer. "Keurig Dr Pepper recognizes that ESG issues are complex and, often times, intersect. It’s the collective work and relentless efforts of our employees, partners and other stakeholders that help us navigate the issues and ultimately drive meaningful and positive impact with every drink."
This report was created with reference to the Global Reporting Initiative (GRI) Index and is in alignment with the Sustainability Accounting Standards Board (SASB) Standards and the Task Force on Climate-related Financial Disclosures (TCFD).
The full 2022 Drink Well. Do Good. Report, Data Summary and Reporting Frameworks, can be found on KDP’s website, along with additional disclosures available here, such as the Company’s 2022 CDP Climate and Water Submissions.
About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue of more than $14 billion and approximately 28,000 employees. KDP holds leadership positions in liquid refreshment beverages, including soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company’s portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Canada Dry®, Clamato®, CORE®, Green Mountain Coffee Roasters®, Mott’s®, Snapple®, and The Original Donut Shop®. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers. The Company’s Drink Well. Do Good. corporate responsibility platform is focused on the greatest opportunities for impact in the environment, its supply chain, the health and well-being of consumers and with its people and communities. For more information, visit www.keurigdrpepper.com.
Media Contacts:
Laren Marra
Keurig Dr Pepper
T: 773-865-3522 / laren.marra@kdrp.com
Investor Contact:
Jane Gelfand
Keurig Dr Pepper
T: 888-340-5287 / jane.gelfand@kdrp.com
Chethan Mallela
Keurig Dr Pepper
T: 888-340-5287 / chethan.mallela@kdrp.com
1 During 2022, a very small amount of coffee (0.36%) was received as conventional due to supplier error and shipping delays requiring immediate substitution with readily available coffee.
SOURCE Keurig Dr Pepper Inc.
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