In October 2021, Coca-Cola HBC committed to achieving net zero emissions across its entire value chain by 2040. The company has created a robust action plan and will invest €250 million in emissions reduction initiatives by 2025. Via an existing, approved science-based target, by 2030 the company will reduce its value chain emissions in scopes 1, 2 and 3 by 25% from a 2017 baseline with a further 50% reduction in the following decade. To address the 90% of emissions in scope 3 resulting from third party actions, CCH will broaden its existing partnership approach with suppliers. Wherever emissions cannot be eliminated entirely, the business will mitigate these by investing in other climate protection measures.
Key initiatives include:
- Further decarbonization of direct operations by switching to 100% renewable electricity and low carbon energy sources through continuous improvements and innovations in energy efficiency,
- Accelerating the company’s journey to a more circular, lower carbon packaging approach by increasing rPET use, adopting packageless and refillable options, removing plastics in secondary packaging,
- Providing energy-efficient and eco-friendly coolers to customers,
- Reducing emissions from agricultural ingredients,
- Implementing a “Green Fleet” programme to switch to low and no carbon alternatives,
- Introducing CO2 emission reduction targets as one of the elements in its long-term management incentive plans.
Coca-Cola HBC’s NetZeroby40 commitment is endorsed by the “We Mean Business” coalition and they have joined the list of companies supporting the “Race to Zero” initiative.
In February 2022, Coca-Cola HBC was again rated Europe’s most sustainable beverage company by the Dow Jones sustainability Index (DJSI), one of the world’s leading sustainability benchmarks. For the 11th consecutive year, it has been ranked among the top three beverage industry performers globally by DJSI. The company is also ranked among the top sustainability performers in ESG benchmarks such as CDP, MSCI ESG and FTSE4Good.