The company's premium water brand LIFEWTR will also be made from 100% recycled plastic in the U.S. These examples build on PepsiCo's publicly stated targets to, by 2025, reduce virgin plastic content across its beverage business by 35% and make all of its packaging 100% recyclable, compostable or biodegradable. Since July 2018, the company pledged over $51 million to global partnerships designed to boost recycling rates to support a circular economy. Hundreds of recycling bins have been placed throughout Miami this week and the PepsiCo Recycling Roadster will be in town to inform people about the importance of recycling. In addition to today's partnership announcement, through the PepsiCo Foundation, PepsiCo has been active in supporting Ocean Conservancy's work through Circulate Capital, an investment firm solely dedicated to financing plastic waste collection and recycling projects in parts of the world most impacted by the ocean plastic crisis.