Coca-Cola HBC Commits to Net Zero Emissions by 2040

Coca-Cola Hellenic Bottling Company (HBC) 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.

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 for all Countries

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.

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.

In Switzerland, Coca-Cola HBC is already one step ahead

Among the 28 CCHBC countries, Coca-Cola HBC Switzerland is leading the way. Various initiatives for emissions reduction have already been introduced.

For example, electricity from 100% renewable sources is already used in the two bottling plants in Brüttisellen and Vals. The PET packaging innovations are also significant. By using around 58% recycled PET (rPET), a total of 12,000 tonnes of CO₂  was saved in 2020. In addition, the weight of the bottles was reduced, which caused a further reduction of 510 tonnes of CO₂.

In the area of mobility, the company based in Brüttisellen focuses on sustainable solutions. Since 2019, Coca-Cola HBC has been running a green fleet in Switzerland, consisting of gas-hybrid vehicles and electric cars. This creates fuel savings and a CO₂ reduction of 25 to 30%, corresponding to around 250 tonnes of CO₂ annually.

VALSER became the first mineral water in Switzerland to be awarded the “climate-neutral” designation by Swiss Climate. VALSER calculates the CO₂ emissions of all its beverages, from extraction of the spring water to sale of the beverage to consumers. In cooperation with Swiss Climate, the company is continuously reducing its CO₂ emissions.

In 2020, Coca-Cola HBC Switzerland drew up a comprehensive CO₂ footprint assessment that included factors ranging from our ingredients to the disposal of our packaging. The company used this assessment to define targeted measures to reduce emissions. This holistic climate strategy made it possible for Coca-Cola HBC Switzerland to become the first beverage company in Switzerland to receive the “CO₂ Optimised” certification from Swiss Climate.