NetZeroby40

Coca-Cola HBC commits to zero carbon emissions by 2040

Coca-Cola HBC Group (CCH) has announced its commitment to reach a net-zero carbon emissions across the whole of its value chain by 2040.

In the context of an existing, approved, science based goal, Coca-Cola HBC Group will reduce all emissions from its business (direct and indirect) by 25% compared to 2017 and then by more than 50% within the next ten years. In the context of the management of the 90% of indirect emissions that result from third party actions in the broader chain, Coca-Cola HBC Group will investigate the existing partnership approach with its suppliers. In cases when emissions cannot be totally eliminated, the corporation will balance them by investing in other climate protection measures.

Zoran Bogdanovic, CEO of Coca-Cola HBC, commented on the announcement: 

Powerful Planning

To achieve its Goal, Coca-Cola HBC Group intends to:

• Invest 250 million Euros for emissions reduction initiatives by 2025
• Decarbonise its direct business regarding CO2 emissions, by switching to 100% renewable electricity energy sources and low carbon energy emissions through continuous improvements and innovations in energy efficiency.
• Accelerate its course towards a circular packaging approach with lower carbon emissions, by increasing the use of rPET, adopting options without packaging or with refillable bottles, as well as dispensing with plastics in secondary packaging. 
• Provide energy-efficient and eco-friendly coolers. 
• Reduce its emissions from ingredients of agricultural origin .
• Implement “Green Fleet” program for the transition to low- and zero-carbon emissions alternatives, an action that is already into effect by replacing the vehicle fleet with low CO2 emission vehicles, such as hybrid and electric vehicles.

In addition to the above, Coca-Cola HBC Group has introduced the reduction of CO2 emissions as one of the elements in the long-term incentive program for its executives.

WATCH THE VIDEO OF Coca-Cola HBC GROUP ANNOUNCEMENT

Strong history

Coca-Cola HBC has been among the first companies that committed itself to and achieved science based targets. In the last decade, the company has reduced its direct emissions by 50% and its CO2 emission reduction plan by 2030 has already been approved and adopted in the light of limiting global temperature rise up to 1,5oC. In March 2021, Coca-Cola HBC was rated as the world’s most sustainable beverage company by the Dow Jones Sustainability Index for the 5th time in the last 7 years, achieving the highest rating so far. It is also classified among the top sustainability institutions based on ESG indexes, among which CDP, MSCI ESG and FTSE4Good.  

Partnership approach

“We are happy to cooperate with Coca-Cola HBC Group, in the context of our mutual, science based targets for the reduction of greenhouse gas emissions by 2030 and for our more long-term ambitions for net-zero emissions. In the context of this partnership, we shall try to reduce the aluminum packaging carbon footprint for our products by 50% by 2030.” - Kathleen Pitre, Commercial & Sustainability Director, Ball Corporation.

“Crown is proud to cooperate as a supplier with Coca-Cola HBC Group, as well as its commitment for sustainability. Its ambitious new goals for sustainability are in harmonization with our initiatives, which include our own goals for zero emissions, our science based goals and we are completely alongside this course.” - Dr. John M. Rost, Vice President of Sustainability & Regulatory Affairs, Crown Holdings, Inc.

“As Tetra Pak has also set net-zero emissions as a goal and Science Based Targets (SBTi) initiative has approved harmonized goals for 2030 in the light of limiting global temperature rise up to 1,5oC, we are looking forward to cooperating with Coca-Cola HBC Group in order to reduce greenhouse gas emissions and achieve our common goals.” - Markus Pfanner, Vice President of Sustainability of Tetra Pak.

The new commitment is also validated by “We Mean Business” Coalition, while Coca-Cola HBC Group participates in the list of the companies supporting the “Race to Zero” initiative.