Coca-Cola HBC commits to net zero emissions across entire value chain by 2040
The Coca-Cola bottler, which serves more than 600 million consumers across 28 countries, will address the entire value chain by broadening its existing partnership approach with suppliers to reduce emissions. Where emissions cannot be eliminated entirely, they will be offset by investments in other climate protection measures.
To achieve its goal, Coca-Cola HBC will:
- Invest €250m ($289m) in emissions reduction initiatives by 2025
- Further decarbonise direct operations by switching to 100% renewable electricity and low carbon energy sources through continuous improvements and innovations in energy efficiency
- Accelerate its journey to a more circular, lower carbon packaging approach by increasing rPET use, adopting packageless and refillable options, removing plastics in secondary packaging
- Provide energy-efficient and eco-friendly coolers to customers
- Reduce emissions from agricultural ingredients
- Implement a “Green Fleet” programme to switch to low and no carbon alternatives
A target for 2030 will see the company reduce its value chain emissions in scopes 1,2 and 3 by 25%; with a further 50% reduction in the following decade.
“This commitment is the ultimate destination of a journey that we started many years ago,” said Zoran Bogdanovic, CEO of Coca-Cola HBC.
“It is fully aligned with our philosophy to support the socio-economic development of our communities and to make a more positive environmental impact. Both are integral to our future growth.
"Although we don’t yet have all the answers, our plan, track record and partnership approach give us confidence that we will deliver”.
In the last decade, CCHBC has halved its direct emissions and the CO2 reduction plan to 2030 is already endorsed and approved on the 1.5 degree pathway. In March 2021, Coca-Cola HBC was rated the world’s most sustainable beverage company by the Dow Jones Sustainability Index for the 5th time in the last 7 years, achieving its highest ever score.
It is also ranked among the top sustainability performers in ESG benchmarks such as CDP, MSCI ESG and FTSE4Good.
CCHBC’s markets are Austria, Cyprus, Greece, Italy, Northern Ireland, Republic of Ireland, Switzerland, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia, Armenia, Belarus, Bosnia & Herzegovina, Bulgaria, Moldova, Montenegro, Nigeria, North Macedonia, Romania, the Russian Federation, Serbia (including the Republic of Kosovo) and Ukraine.
Cutting emissions across the entire value chain
CCHBC’s target addresses not only its own operations but its entire value chain, requiring it to work with suppliers.
The carbon footprint of beverage cans from Ball Corporation will be cut in half by 2030, with the two companies working towards the same 2030 greenhouse gas emission reduction targets.
CCHBC’s targets also alight with Crown Holdings’ own initiatives, including net zero targets.
Tetra Pak also has a net zero target and SBTi approved 1.5 degree aligned 2030 targets.