PURCHASE, N.Y., May 17, 2017 /PRNewswire/ — PepsiCo has joined the New Plastics Economy initiative as a Core Partner, signaling the global food and beverage company’s continued commitment to reduce packaging waste.

Led by the Ellen MacArthur Foundation, the New Plastics Economy is bringing together industry, government, NGOs, scientists, students and citizens to build a more sustainable global plastics value chain.

PepsiCo’s participation in the initiative supports the company’s previously announced goals to strive for 100% of its packaging to be recoverable or recyclable by 2025 and to partner to increase packaging recovery and recycling rates. These goals are part of PepsiCo’s Performance with Purpose vision to deliver top-tier financial performance over the long run by integrating sustainability into its business strategy.