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COCA‑COLA IN EUROPE CONFIRMS NET ZERO EMISSIONS GOAL BY 2040
Coca‑Cola in Europe* today announced its continued progress to reduce its climate impact and, as a result, its ambition to achieve Net Zero greenhouse gas (GHG) emissions in its entire European value chain by 2040.
The Coca‑Cola Company’s leading bottling partners in Europe, Coca‑Cola Europacific Partners and Coca‑Cola HBC have now set Net Zero 2040 goals, including interim science-based targets for 2030.**
This will result in a reduction of 2.5 million tons CO2 equivalent annually in Europe by 2030 compared to 2015 – a reduction of 30% – including all Scope 1, 2 and 3 emissions.***
Nikos Koumettis, President of The Coca‑Cola Company’s European Operating Unit said: “Earlier this year, Coca‑Cola in Europe signed up to the EU Code of Conduct on Responsible Food Business and Marketing Practices to enable sustainable food systems, including a trajectory to reach Net Zero by 2040 in major European markets. Today, we are confirming this sustainability ambition for all our European markets to achieve Net Zero emissions by 2040.”
“Our company purpose, to refresh the world and make a difference, has sustainability at the center. The ambitious sustainability targets we’ve set in Coca‑Cola in Europe across all areas of our business underline our commitment to doing our part in tackling climate change.”
Significant contributions from bottling partners and close cooperation with suppliers and customers are key for Coca‑Cola in Europe to achieve its goals. This includes reducing emissions from packaging, which accounts for 41% of the GHG emissions in the Europe value chain. In 15 European markets, we have bottles made of 100% recycled PET, reducing the amount of virgin plastic we use. As 100% rPET material has up to a 70% lower carbon footprint than virgin PET, we’re saving 120.000 tons of CO2 per year vs 2015 while moving away from virgin, fossil-based plastics.
Other initiatives involve increasing energy efficiency in refrigeration, accounting for 27% of emissions, reducing emissions from ingredients, accounting for 21% of emissions, and includes transitioning to carbon neutral manufacturing sites.
In addition, Coca‑Cola will continue to develop water replenishment projects and support nature-based solutions to foster biodiversity and reforestation, engage suppliers and farmers, and enhance regenerative agriculture projects.
Nikos Koumettis said: “We recognize that we can’t do this alone – a majority of the emissions we are responsible for are in Scope 3. Working with our bottlers, suppliers and other partners, including the wider industry and policymakers, will be vital to achieving our Net Zero goal, and we are confident that we can achieve this.”
Notes:
* Coca‑Cola in Europe is comprised of Coca‑Cola Europacific Partners, Coca‑Cola HBC, and The Coca‑Cola Company subsidiaries.
** Coca‑Cola Europacific Partners have set an interim science-based target of reducing carbon emissions by 30% in 2030 versus a 2019 baseline, and Coca‑Cola HBC has set a science-based target of 25% reduction in carbon emissions versus a 2017 baseline. The Coca‑Cola Company has a global science-based target to reduce absolute GHG emissions by 25% by 2030.
*** Scope 1 emissions occur from sources owned or controlled by the company. Scope 2 emissions result from the generation of purchased energy. Scope 3 emissions are all other emissions in the value chain, both upstream and downstream, including bottling partners.
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You can find further information on our major European bottling partners’ actions and roadmaps here: