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RNS Number : 7864O
Coca-Cola HBC AG
12 October 2021
Coca-Cola HBC AG
Commits to Net Zero Emissions by 2040
Zug, Switzerland - 12 October 2021 - Coca-Cola HBC (CCH) 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. 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.
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
To achieve its goal Coca-Cola HBC will:
-- Invest EUR250 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 CO(2) 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 CO (2) 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.
A Partnership Approach
"We are delighted to work together with our customer Coca-Cola
HBC on our mutual 2030 science-based greenhouse gas emission
reduction targets and longer-term net zero aspirations. By working
as a team, we will strive to cut the product carbon footprint of
beverage cans in half by 2030." - Kathleen Pitre, Chief Commercial
and Sustainability Officer, Ball Corporation
"Crown is proud to be a supply partner of Coca-Cola HBC and of
its commitment to sustainability. Their ambitious new
sustainability goals align with our own initiatives, including our
own Net Zero and science-based-targets, and we are fully on board
for this journey.", - Dr. John M. Rost, Vice President,
Sustainability & Regulatory Affairs, Crown Holdings, Inc.
"As Tetra Pak also has a net zero target and SBTi approved 1.5o
aligned 2030 targets, we look forward to working with Coca-Cola HBC
to reduce GHG emissions and together achieve our joint aims." -
Markus Pfanner, Vice President Sustainability Tetra Pak
The new commitment is also endorsed by the "We Mean Business"
coalition and Coca-Cola HBC has joined the list of companies
supporting the "Race to Zero" initiative.
Coca--Cola HBC Group
Investors and Analysts:
Joanna Kennedy Tel: +44 7802 427505
Investor Relations Director joanna.kennedy@cchellenic.com
Carla Fabiano Tel: +44 7808 215245
Investor Relations Manager carla.fabiano@cchellenic.com
Jemima Benstead
Investor Relations Manager jemima.benstead@cchellenic.com
Marios Matar Tel: +306974443335
Investor Relations Manager marios.matar@cchellenic.com
Media:
David Hart Tel: +41 41 726 0143
Group Communication Director david.hart@cchellenic.com
About Coca-Cola HBC
Coca-Cola HBC is a growth-focused consumer packaged goods
business and strategic bottling partner of The Coca-Cola Company.
We create value for all our stakeholders by supporting the
socio-economic development of the communities in which we operate
and we believe building a more positive environmental impact is
integral to our future growth. Together, we and our customers serve
more than 600 million consumers across a broad geographic footprint
of 28 countries on three continents. Our portfolio is one of the
strongest, broadest and most flexible in the beverage industry,
offering consumer-leading beverage brands in the sparkling, juice,
water, sport, energy, plant-based, ready-to-drink tea, coffee,
adult sparkling and premium spirits categories. These beverages
include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa,
Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our more than 26,000 employees and we are
ranked among the top sustainability performers in ESG benchmarks
such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and
FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For
more information, please visit https://www.coca-colahellenic.com
.
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