Keurig Dr Pepper Strengthens its Commitment to Water Stewardship

Rhea-AI Summary

Keurig Dr Pepper (NASDAQ: KDP) announced new water stewardship commitments on March 22, 2021, coinciding with World Water Day. The company joined the Texas Water Action Collaborative, targeting water quality improvements in the Trinity River. KDP set a goal to support regenerative agriculture on 250,000 acres by 2030, which will protect water resources and improve soil health. Existing water use efficiency goals aim to enhance operations by 20% by 2025 and replenish water used for beverages in high-risk communities. By 2019, KDP had replenished 73% of water used in such areas.

Positive

• KDP's goal to support regenerative agriculture on 250,000 acres by 2030 enhances sustainability efforts.
• Improved water use efficiency by 4.4% year-over-year, targeting a 20% improvement by 2025.
• KDP replenished 73% of water used in high-risk communities, demonstrating commitment to local sustainability.

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• None.

BURLINGTON, Mass. and PLANO, Texas, March 22, 2021 /PRNewswire/ -- In celebration of World Water Day, Keurig Dr Pepper (NASDAQ: KDP) today strengthened its commitment to water stewardship across its value chain by joining the new Texas Water Action Collaborative (TxWAC), a coalition of industry, nonprofit and governmental organizations to benefit the quality and volume of water on the Trinity River in Texas, and announcing a new regenerative agriculture goal. 

As part of its Drink Well. Do Good. corporate responsibility commitments, the Company announced a new goal to support regenerative agriculture and conservation on 250,000 acres of land by 2030. Keurig Dr Pepper will partner with key suppliers and farmers to achieve the goal, which represents 50 percent of the land used to grow the Company's top climate-sensitive crops, including coffee, corn and apples.  This new goal will accelerate the Company's efforts to protect water resources within its supply chain, as regenerative agriculture practices contribute to improved water quality and quantity, while also supporting biodiversity and strengthening farmer economic resilience.

"Access to clean water is critical to the facilities that make our beverages, the communities in which we operate and the farmers that grow ingredients for our drinks. The new commitments we announced today advance our efforts to be good stewards of water across our value chain," said Monique Oxender, Chief Sustainability Officer, Keurig Dr Pepper.  "Our new regenerative agriculture goal is a positive step forward on our journey to ensure a long-term, sustainable supply of high-quality crops like apples and corn, by improving soil health for the famers who supply us.  This unique, new collaboration in the state of Texas ensures we are mitigating against climate change and protecting water resources in our local communities."

In addition to the new regenerative agriculture goal, Keurig Dr Pepper has existing, ambitious goals to improve water use efficiency in its operations by 20 percent by 2025, and to partner with its highest water-risk operating communities to replenish 100 percent of water used for its beverages in those communities by 2025.  Through 2019, the company has replenished 73 percent of the water used for coffee and cold beverages in its highest water-risk manufacturing locations and has improved its water use efficiency by 4.4% from its baseline.  The Company has established multiple partnerships to support its water stewardship and conservation efforts, including:

• Collaborating with the TxWAC. With several office, production and distribution facilities throughout Texas, including its co-headquarters in Frisco, Keurig Dr Pepper is committed to protecting the Trinity River basin, in partnership with key conservation organizations. 
• Investing in a long-term partnership with The Nature Conservancy (TNC), including supporting a series of ongoing innovative water stewardship projects in Texas, Mexico and California, where Keurig Dr Pepper has facilities.  In 2020, projects included a novel model for environmental flows in the Trinity River watershed in Texas and a lease agreement for 444 million liters of water to help restore environmental flows during critical drought periods.
• Partnering for collective action with the Beverage Industry Environmental Roundtable (BIER), the Bonneville Environmental Foundation (BEF) and the California Water Action Collaborative (CWAC). With other BIER members, KDP helped launch "Charco Bendito", a first-of-its-kind, multi-year water stewardship initiative in Tlajomulco de Zuñiga, Mexico.  With financial support coordinated through BEF, KDP joined 10 other businesses and philanthropic entities to increase water supply reliability for Arizona, Nevada, and California through a system conservation project.  The Company also recently joined CWAC, a collaborative network of organizations that develop impactful conservation and restoration projects to improve water security in California.

To learn more about Keurig Dr Pepper's Drink Well. Do Good. commitments and progress through year-end 2019, including in its supply chain, climate and water efforts, visit here.  The Company will be publishing its 2020 Corporate Responsibility Report, highlighting its latest progress and new goals in new areas, on its website in June 2021.

About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and nearly 27,000 employees. KDP holds leadership positions in 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®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott's®, CORE® 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 is committed to sourcing, producing and distributing its beverages responsibly through its Drink Well. Do Good. corporate responsibility platform, including efforts around circular packaging, efficient natural resource use and supply chain sustainability.

Media Contacts:
Katie Gilroy
Keurig Dr Pepper
T: 781-418-3345 / katie.gilroy@kdrp.com 

Investor Contacts:
Tyson Seely
Keurig Dr Pepper
T: 781-418-3352 / tyson.seely@kdrp.com

Steve Alexander
Keurig Dr Pepper
T: 972-673-6769 / steve.alexander@kdrp.com

 

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SOURCE Keurig Dr Pepper

FAQ

What is Keurig Dr Pepper's new water stewardship goal announced in March 2021?

Keurig Dr Pepper announced a goal to support regenerative agriculture on 250,000 acres by 2030.

How much water has Keurig Dr Pepper replenished in high-risk communities by 2019?

By 2019, Keurig Dr Pepper had replenished 73% of the water used for beverages in high-risk communities.

What partnership did Keurig Dr Pepper join to improve water quality in Texas?

Keurig Dr Pepper joined the Texas Water Action Collaborative to improve water quality in the Trinity River.

What other water goals does Keurig Dr Pepper have for 2025?

Keurig Dr Pepper aims to improve water use efficiency by 20% and replenish 100% of water used in high-risk areas by 2025.

What are the benefits of regenerative agriculture for Keurig Dr Pepper?

Regenerative agriculture contributes to improved water quality, supports biodiversity, and strengthens farmer economic resilience.