New Delhi, January 02, 2009: PepsiCo India, country's leading food and beverage company, has bagged the prestigious Social and Corporate Governance Award 2008 for Innovative Strategies for its 'waste to wealth' initiative. The Bombay Stock Exchange, NASSCOM Foundation and the Times Foundation-supported Social and Corporate Governance Award was given for following Best Practices in CSR with Innovative Strategies. PepsiCo and its partnering NGO, Exnora's Waste to Wealth initiative won the highly coveted award amongst 34 other shortlisted companies.
In line with PepsiCo's commitment to Environment sustainability, PepsiCo India's Waste to Wealth initiative focuses on creating Zero Waste Centers through awareness, segregation, and recycling of waste. The accumulated waste is converted to value added products thereby creating wealth and a clean environment. This initiative is currently reaching out and benefiting more than 200,000 people across Pammal, Chennai, Cuddalore, Nagapattinam, Tenkasi, Sangareddy and Panipat and aims to touch the lives of 400,000 people by 2009.
This award adds to the bouquet of prestigious awards won by PepsiCo for its effective waste to wealth initiative. The PepsiCo-Exnora Zero Waste Management project in Pammal, Tamil Nadu was recognized as a model project and centre for international learning by UNICEF last year. This prestigious recognition by UNICEF followed the Golden Peacock Award for Innovation received by PepsiCo India and Exnora for their partnership in this unique waste recycling program.
PepsiCo (NYSE: PEP) is one of the world's largest food and beverage company, with 2007 annual revenues of more than $39 billion. The Company employs approximately 185,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales.
PepsiCo entered India in 1989 and has grown to become the country's largest selling food and beverage company. One of the largest multinational investors in the country, PepsiCo has established a business which aims to serve the long term dynamic needs of consumers in India. The group has built an expansive beverage, snack food and exports business and to support the operations are the group's 43 bottling plants in India, of which 15 are company owned and 28 are franchisee owned. In addition to this, PepsiCo's Frito Lay snack division has 3 state of the art plants. PepsiCo's business is based on its sustainability vision of making tomorrow better than today. PepsiCo India's commitment to living by this vision every day is visible in its contribution to the country, consumers, farmers and people.
Mrinall Kanti Dey
GM - Corporate Communication
Mob: +91 9811613864