Coca-Cola HBC commits to net zero emissions by 2040

Coca-Cola HBC AG

Commits to Net Zero Emissions by 2040

Zug, Switzerland – 12 October 2021 – 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. 

Commenting on the announcement, Zoran Bogdanovic CEO of Coca-Cola HBC said, "This commitment is the ultimate destination of a journey that we started many years ago. 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". 

A Robust Plan

To achieve its goal Coca-Cola HBC will:

• Invest 250 million euros 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 

In addition, Coca-Cola HBC has introduced CO₂ emission reduction targets as one of the elements in its long-term management incentive plans.

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 

"We are delighted to work together with our customer Coca-Cola HBC on our mutual 2030 science-based greenhouse gas emission reduction targets and longer-term net zero aspirations. By working as a team, we will strive to cut the product carbon footprint of beverage cans in half by 2030." - Kathleen Pitre, Chief Commercial and Sustainability Officer, Ball Corporation 

"Crown is proud to be a supply partner of Coca-Cola HBC and of its commitment to sustainability. Their ambitious new sustainability goals align with our own initiatives, including our own Net Zero and science-based-targets, and we are fully on board for this journey.", - Dr. John M. Rost, Vice President, Sustainability & Regulatory Affairs, Crown Holdings, Inc.

"As Tetra Pak also has a net zero target and SBTi approved 1.5o aligned 2030 targets, we look forward to working with Coca-Cola HBC to reduce GHG emissions and together achieve our joint aims." - Markus Pfanner, Vice President Sustainability Tetra Pak  

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 Group

About Coca-Cola HBC

Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve more than 600 million consumers across a broad geographic footprint of 28 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our more than 26,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.

Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit https://www.coca-colahellenic.com.