Food and beverage giant PepsiCo has been approved as a member of Ceres' corporate network.

PepsiCo will be among around 25 Fortune 500 companies that have joined Ceres, a coalition of investors, environmental groups and public interest organizations working with companies to address sustainability challenges such as global climate change.

"To address the tough environmental and social issues facing global corporations today, we need to hear from a diverse group of stakeholders who challenge us to innovate and operate in a sustainable manner," said Indra Nooyi, PepsiCo chairman and CEO. "No one has access to such a vast network of valuable, independent input as Ceres and we are very pleased to be a part of this network."

In 2006 Nooyi launched PepsiCo's "Performance with Purpose" initiative, designed to drive the company's sustainability efforts in three areas - products, environment and people. Following, the company said it has made a range of commitments, including reducing water consumption by 20%, fuel consumption by 25% and electricity consumption by 20% per unit of production by 2015, as compared to 2006.

Companies joining Ceres are urged to "make continuous strides in improving their sustainability performance and reporting practices by engaging with investors, environmental groups, and other stakeholders".