Norway's wealth fund backs bid for PepsiCo biodiversity risk assessment
) conduct a biodiversity risk assessment to gauge how vulnerable the soft drink and snacks giant's operations are to biodiversity loss.
"The board should account for material sustainability risks facing the company, and the broader environmental and social consequences of its operations and products," the fund, which pools revenues from the Norwegian state's oil and gas production, said ahead of the meeting. The proposal by Green Century Capital Management says that while PepsiCo has taken "commendable" initiatives on sustainability, it may be exposed to unnecessary risks if it doesn't fully assess its dependency on natural systems and seek to limit impacts on the business.
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