Coca-Cola HBC launches NET ZERO BY 40

the company's commitment to achieving net zero emissions across the entire value chain by 2040.

NEW YORK, Oct. 12, 2021 /PRNewswire/ -- Coca-Cola HBC today announced a commitment to achieve net-zero emissions across its entire value chain by 2040. 

After having already reduced its emissions by 25% in the last decade, the company is committed to reducing CO2 emissions by a further 25% by 2030 along the entire supply chain in scopes 1, 2 and 3 defined by the GHG Protocol, i.e. the globally recognized emissions reporting system, with a further reduction of 50% in the following decade. 

To reduce 90% of scope 3 emissions from third parties, Coca-Cola HBC will strengthen existing partnerships with its suppliers. Where emissions cannot be eliminated completely, the company will reduce them by investing in other climate protection measures.

Zoran Bogdanovic, CEO of Coca-Cola HBC, said: "This commitment is the final destination of a journey we began many years ago. It is fully in line with our goal of supporting the socio-economic development of the communities in which we are present and of increasingly reducing our environmental impact. While we do not yet have all the answers, our plan, track record and various partnerships will allow us to achieve this important result."

To achieve its goal, Coca-Cola HBC:

       · Invest €250 million in emission reduction initiatives by 2025

       Will continue to decarbonise its direct operations by switching to 100% renewable electricity and low-carbon energy sources through continuous improvements and innovations 

       · Accelerate its journey to a more circular and low-emission approach by increasing the use of rPET, adopting reusable and packaging-free options, removing plastic in secondary packaging

        · Will provide its customers with eco-friendly refrigerators

        · Reduce emissions from agricultural ingredients

       Implement a "Green Fleet" program to transition to low- or zero-carbon alternatives

In addition, Coca-Cola HBC will continue to consider CO2 emission reduction targets as one of the main elements in its long-term management incentive plans

A solid track record 

Coca-Cola HBC was one of the first companies to commit to achieving the so-called Science Based Targets (SBTs) which also includes this emissions reduction plan. In March 2021, Coca-Cola HBC was named the world's most sustainable beverage company by the Dow Jones Sustainability Index for the fifth time in the past 7 years, achieving the highest score ever. It is also ranked among the top sustainability performers in ESG benchmarks such as CDP, MSCI ESG and FTSE4Good. The company's new commitment is also supported by the global non-profit coalition "We Mean Business" which among other things launched the "Race to Zero" program of which Coca-Cola HBC is a supporter.