The savings were achieved through the company's water management, energy, sustainable packaging and waste-reduction initiatives. During the same time period, the company delivered double-digit net revenue and operating profit growth.

Pepsi's 2014 environmental sustainability progress includes:

• Reduced its water use per unit of production by 23 percent since 2006, already exceeding its public target of a 20 percent reduction by the end of the 2015. This delivered cost savings of about $17m in 2014. In addition, the company's absolute water use decreased by about 1 billion liters in 2014.

• Held absolute greenhouse gas emissions for legacy operations flat against a 2008 baseline despite significant production volume growth in its business. By driving best practices through its Resource Conservation program and investments in greener fleet initiatives - such as alternative fuels and electric-vehicle delivery trucks - PepsiCo has improved the energy efficiency of legacy operations by nearly 16 percent compared with its 2006 baseline.

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