Keurig Dr Pepper Announces Progress and New Commitments in 2020 Corporate Responsibility Report

Rhea-AI Summary

Keurig Dr Pepper (KDP) has released its third annual Drink Well. Do Good. report, showcasing its achievements in corporate responsibility and new commitments. Key highlights include:

• 100% of K-Cup pods are now recyclable, aiming for 100% recyclable packaging by 2025.
• Core Hydration bottles are made from 100% recycled plastic, targeting 30% PCR content by 2025.
• 79% water replenished in high-risk areas, with a goal of 100% by 2025.
• 100% responsibly sourced coffee and over one million beneficiaries in the supply chain.

New goals include responsible sourcing of cocoa, corn, and inclusive growth initiatives.

Positive

• 100% of K-Cup pods are recyclable, positioning KDP to achieve 100% recyclable packaging by 2025.
• 17% increase in post-consumer recycled content across packaging, targeting 30% by 2025.
• 79% water replenished in high-risk locations, striving for complete replenishment by 2025.
• Commitment to responsibly source 100% of priority inputs including cocoa and corn, enhancing sustainability efforts.

Negative

• None.

BURLINGTON, Mass. and FRISCO, Texas, June 30, 2021 /PRNewswire/ -- Keurig Dr Pepper (NYSE: KDP) today published its third annual Drink Well. Do Good. report, highlighting progress against the Company's ambitious corporate responsibility commitments. Additionally, the report outlines new goals in both established and new areas, including health and well-being, diversity and inclusion (D&I) and environmental stewardship. These new commitments reinforce KDP's resolve to be a driving force for good for its employees, communities, stakeholders and the planet.

Key achievements and goals met include:

• 100% of K-Cup pods are now made from recyclable plastic, meeting the Company's longstanding 2020 goal. This achievement, along with other efforts, advances to 90% the percentage of KDP packaging that is now recyclable or compostable, positioning KDP to achieve its goal of 100% by 2025;
• Core Hydration, 16 oz. Snapple and 500 mL Aguafiel Natural beverage bottles are now made with 100% recycled plastic, putting the Company at 22% post-consumer recycled (PCR) content used across its packaging portfolio and on track to achieve its goal of 30% PCR content in packaging by 2025;
• 79% of the water used to make KDP beverages in its highest water-risk manufacturing locations was replenished through projects that enhance watersheds, protect habitats and conserve water, supporting KDP on its path to replenishing 100% at high-risk locations by 2025;
• 100% of the coffee that KDP purchases is now responsibly sourced, meeting the Company's 2020 goal;
• More than one million people were engaged in KDP's supply chain to significantly improve their lives, exceeding the Company's 2020 goal; and
• Four million cups of coffee and other beverages, along with thousands of brewers, were donated to more than 500 hospitals across the U.S. and Canada, in support of healthcare workers during the height of the pandemic.

Commenting on the announcement, KDP Chief Sustainability Officer Monique Oxender stated, "Following the unprecedented challenges of 2020, we recognize that accelerating action across our key areas of impact has never been more important. We're proud of the goals we achieved in 2020 and the existing and new commitments we've made to drive an even greater positive impact, individually and together with our partners."

New commitments established include:

• Responsible Sourcing: Expanding beyond coffee, the Company is now committed to responsibly source 100% of its priority inputs – including cocoa, corn and apples. In addition, KDP remains committed to responsibly sourcing its Keurig brewers, which were 86% responsibly sourced in 2020.
• Improving Livelihoods: KDP has made a new commitment to advance inclusion by addressing barriers to entry and prosperity in our supply chain. To inform this work, the Company is executing a number of projects to promote ecosystem resilience, human rights, worker well-being and farmer profitability within its global supply chain, while leveraging its membership with the Business for Inclusive Growth coalition through partnership and shared learning.
• Regenerative Agriculture: Earlier this year, KDP unveiled a new goal to support regenerative agriculture and conservation on 250,000 acres of land, representing 50% of the land used to grow the coffee, corn and apples it sources, by 2030.
• Positive Nutrition: KDP aims to deliver a broad portfolio that meets a variety of consumer needs, ranging from an occasional treat to an energy boost to beneficial nutrients. With this report, KDP announced a new goal that 60% of its portfolio will be offerings that provide positive hydration by 2025. The Company's positive hydration focus was developed with input from external health and well-being advisors and in collaboration with the Partnership for a Healthier America (PHA). Through a multi-year partnership, PHA will provide annual validation of the goal and expertise in the health and well-being space.
• Diverse and Inclusive Culture: In early 2020, following KDP's work to develop the culture it aspired to build as a newly merged company, KDP developed a formalized D&I initiative to expand and enhance this work. The initiative was launched with the project-based approach used for other important corporate priorities and includes executive sponsorship, strong governance processes and clear goals. In its Drink Well. Do Good. report published today, the Company is introducing new commitments to increase by 25% the representation of both women and people of color in Director and above roles by 2025.

KDP developed its 2020 Drink Well. Do Good. report in accordance with the Global Reporting Initiative (GRI) guidelines, the most widely recognized sustainability reporting standards, and the UN Sustainable Development Goals. This is KDP's first report to be released alongside the Sustainability Accounting Standards Board (SASB) Index and the Task Force on Climate-related Financial Disclosures (TCFD).

The full 2020 Drink Well. Do Good. corporate responsibility report, including a data summary and reporting framework indices, can be found here.

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

Laren Marra
Keurig Dr Pepper
T: 773-865-3522 / laren.marra@kdrp.com   

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

 

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SOURCE Keurig Dr Pepper Inc.

FAQ

What are the key achievements in Keurig Dr Pepper's 2020 corporate responsibility report?

Keurig Dr Pepper's 2020 report highlights 100% recyclable K-Cup pods, 79% water replenished in high-risk areas, and 100% responsibly sourced coffee.

What new commitments did Keurig Dr Pepper announce in June 2021?

Keurig Dr Pepper announced commitments for responsible sourcing of materials and addressing barriers to prosperity in its supply chain.

What are Keurig Dr Pepper's sustainability targets for 2025?

Keurig Dr Pepper aims for 100% recyclable packaging, 30% post-consumer recycled content, and 100% water replenishment in high-risk areas by 2025.

How many beneficiaries did Keurig Dr Pepper achieve in its supply chain initiatives?

Keurig Dr Pepper engaged over one million people in its supply chain, significantly improving their lives.

What is KDP's target for women and people of color representation by 2025?

Keurig Dr Pepper aims to increase the representation of women and people of color in Director and above roles by 25% by 2025.