Last updated on June 13th, 2024
Purchase, New York-based PepsiCo Inc. has published its 2020 Diversity, Equity and Inclusion Report, debuting an evolved global strategy underpinned by “A Space to be You.” This is a fundamental belief on how to foster diverse, equitable and inclusive principles.
The report outlines PepsiCo’s diversity journey, while pointing to its progress and commitments across three distinct pillars: People, Business and Communities, taking a holistic view at the impact made by the company in the last year.
“Like many of our peers, PepsiCo is on a journey from awareness to commitment to action,” said Ramon Laguarta, PepsiCo’s chairman and CEO. “I am proud to say that our commitment to equity and inclusion is stronger today than at any time in our history. We understand that diversity of thought and experience gives us valuable strategic insights, fuels our innovation and helps us attract the best talent. But even though I am proud of our progress, I know there is still more work to do. As we take the next steps on our journey, we will remain committed to the principles of diversity and transparency, whilst stepping up our action in partnership with employees, consumers, customers and communities.”
PepsiCo’s diversity agenda, which has evolved from Diversity & Engagement to Diversity, Equity and Inclusion, is a step forward to unlock the organization’s ability to further innovate for its consumers, deliver first-class service for its customers and cultivate a workforce that accurately reflects its communities.
The company shared progress in its 2020 DE&I Report, including the following highlights:
- Advancing gender parity globally with progress currently at 41 percent;
- Increasing Black and Hispanic representation – at 8 percent and 9 percent respectively, PepsiCo is on track to meet the goal of increasing managerial representation in the U.S. to 10 percent by 2025 in order to mirror workforce availability;
- Investing in diverse suppliers by expanding existing supplier base and growing the spend by more than $35 million incrementally in 2021 with Black and Hispanic suppliers;
- Amplifying diverse voices with the launch of products and campaigns, including eQlibri Popcorn in Brazil, a product designed by women for women and featuring women in its advertising;
- Unlocking opportunities and cultivating future talent like The PepsiCo Foundation’s partnership with Amal Academy, a nonprofit organization seeking to close the employment gap in Pakistan by helping graduates build bridges to their dream jobs through soft skill trainings and job placement. To date, 3,300-plus youth have been positively impacted, with an 80 percent job-offer rate;
- Meeting the needs of local communities with the investment of more than $71 million and working with more than 250 partners to bring food and other vital resources to global communities most impacted by COVID-19. As part of this effort, funding was used to provide for protective gear for healthcare workers, testing and screening services and the distribution of 145 million nutritious meals to at-risk populations.
“PepsiCo’s Diversity, Equity and Inclusion agenda is more critical than ever following a year of such adversity that disproportionately affected underserved populations,” said Tina Bigalke, PepsiCo global chief diversity, equity and inclusion officer. “I am proud of the progress we’ve made so far and equally motivated to continue pushing us to drive measurable impact and meaningful change.”
The all-digital and interactive 2020 DE&I Report includes a snapshot of PepsiCo’s diversity journey, pillar focus areas, progress against goals and other resources. The DE&I report and downloadable assets are available here.
