Coca-Cola HBC Commits to Net Zero Emissions by 2040

Coca-Cola HBC (CCH) today announced a commitment to achieving net zero emissions across its entire value chain by 2040.

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%, 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.

A Robust Plan

To achieve its goal Coca-Cola HBC will:

• Continue to have CO₂ emission reduction targets as one of the elements in its  long-term management incentive plans
  
• Invest €250 million in emissions reduction initiatives by 2025
• Decarbonise further 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 Strong Track Record

Coca-Cola HBC was one of the first companies to commit to and deliver science-based targets.  In the last decade, the company 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. 

A Partnership Approach

The new commitment is also endorsed by the “We Mean Business” coalition and Coca-Cola HBC has joined the list of companies supporting the “Race to Zero” initiative.

COCA-COLA HBC COMMITS TO NETZEROBY40