Frito-Lay (Lay's), Tostitos, Quaker, Gatorade, 7UP, Doritos, Cheetos, Ruffles, Tropicana, Sierra Mist, Mtn Dew, Aquafina, PopCorners, LIFEWTR, Bubly, Aquafina, Brisk, Lipton
Purchase, New York
Food Beverage and Tobacco

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk


PepsiCo scored a 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, PepsiCo increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. PepsiCo forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. PepsiCo is a member of GARM. The company pledged $400 million toward BLM and related causes and matches employee donations to Planned Parenthood. PepsiCo is a Bronze sponsor of the HRC. The company is a founding member of PGLE and requires unconscious bias training for all its employees. PepsiCo supports the Equality Act and transgender participation in girls' sports, and federalized voting systems. The company is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. PepsiCo is committed to carbon neutrality by 2040 and lobbies in an ideological manner. The company opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. PepsiCo is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race. For these reasons, PepsiCo receives a High Risk rating.

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Board Bias

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CEO of PepsiCo

Ramon L. Laguarta

Ramon L. Laguarta


Headquartered in Purchase, New York, PepsiCo is a member of the Fortune 250 operating in the Food Beverage and Tobacco industry. Ramon L. Laguarta and Ramon L. Laguarta serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $24,750 to Republican causes and $4,812,251 to Democratic causes. Under their tenure, PepsiCo currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:





Shareholder Proposals

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ESG Category
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/3/23GovernancePaul Chesser, National Legal and Policy CenterIndependent Board ChairAgainst24.60%
5/3/23SocialJohn HarringtonGlobal Transparency ReportAgainst18.10%
5/3/23SocialAs You Sow, on behalf of Longview Largecap 500 IndexReport on Risk of State Policies Restircting Reproductive HealthcareAgainst16.10%
5/3/23SocialAs You SowReport on Impacts of Reproductive Healthcare LegislationAgainst15.60%
5/3/23EnvironmentalNational Center for Public Policy ResearchReport on Net-zero Emissions PoliciesAgainst1.90%
5/4/22GovernanceKenneth SteinerRequire Independent Board ChairAgainst31.12%
5/4/22SocialHarrington Investments, Inc.Report on Global Public Policy and Political InfluenceAgainst17.63%
5/4/22SocialJohn Bishop Montgomery TrustReport on Public Health Costs of Food and Beverages ProductsAgainst13.74%
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