PepsiCo's board and management graciously listened to all our speakers. Supporters of the recycling resolution secured enough support to bring the proposal back again next year, according to U.S. Securities and Exchange Commission rules governing shareholder proposals. Recycling rates dropped dramatically in recent years, largely due to the proliferation of throwaway beverage packaging.
Plastic bottles are the fastest growing type of bottle and can waste.
Sheehan presented a letter in support of the shareholder resolution on recycling, addressed to the PepsiCo Board of Directors, and signed by 98 public officials, businesses, environmental organizations, student and community leaders. States with deposit laws are much cleaner than states without. Pepsi is lagging behind the industry leader, Coca-Cola, and needs to become a leader in recycling. Stop spending money lobbying against bottle bills. Institutional investors co-sponsoring the shareholder recycling resolution called upon PepsiCo to stop opposing bottle bills or come up with another method to achieve the 80 percent recycling rate, which is the current average in states with refundable deposits.