Coca-Cola Europacific Partners Commits to Reducing Greenhouse Gas Emissions

Strategic Insights -

Coca-Cola Europacific Partners has made significant commitments to reducing its greenhouse gas emissions, setting ambitious targets to cut its net emissions by 30% by 2030 and reach Net Zero across its organisation by 2040. The company recognizes that tackling Scope 3 emissions is crucial to its climate action efforts, as these emissions account for 90% of its overall GHG emissions, with packaging production responsible for 35% and ingredient growing responsible for 28%. To meet its emissions reduction targets, CCEP is working closely with suppliers to set science-based targets, with 45% of its 185 strategic suppliers having already set validated targets by 2024.

Key Takeaways:

  • CCEP aims to cut its net greenhouse gas emissions by 30% by 2030, with the ultimate goal of reaching Net Zero across its organisation by 2040.
  • 90% of CCEP's overall GHG emissions are produced throughout its wider value chain, with packaging production responsible for 35% and ingredient growing responsible for 28%.
  • CCEP is working closely with suppliers to set science-based targets, with 45% of its 185 strategic suppliers having already set validated targets by 2024.
  • The company is also implementing a supply chain finance programme with Rabobank, which incentivizes and rewards suppliers for improving their ESG performance, with over 177 suppliers participating and €3.5bn in funding issued through the programme.
  • CCEP is piloting breakthrough technology with innovative partners, such as Avalo, to help cut supply chain emissions using AI-based technology that helps farmers grow crops more efficiently in a wider range of environments.

Statistics:

  • 90% of CCEP's overall GHG emissions are produced throughout its wider value chain.
  • Packaging production accounts for 35% of GHG emissions.
  • Ingredient growing accounts for 28% of GHG emissions.
  • 45% of CCEP's 185 strategic suppliers have set science-based targets.
  • 31% of CCEP's 185 strategic suppliers have pledged to set science-based targets.
  • Over 177 suppliers have signed up to CCEP's supply chain finance programme with Rabobank.
  • €3.5bn in funding has been issued through CCEP's supply chain finance programme with Rabobank to date.

Sources:

  • Source 1: Coca-Cola Europacific Partners news release, Sept. 3
  • Source 2: CDP Supplier Engagement Assessment (SEA)