Coca-Cola HBC (CCH) 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.
To achieve its goal Coca-Cola HBC will:
- 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.
In addition, Coca-Cola HBC has introduced CO2 emission reduction targets as one of the elements in its long-term management incentive plans.