GlobalData offers a comprehensive analysis of Coca-Cola, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Coca-Cola’s ESG performance. GlobalData’s company profile on Coca-Cola offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Coca-Cola is committed to achieving net-zero targets by 2050 and reducing greenhouse gas (GHG) emissions. The company recognizes the importance of net-zero and has prioritized climate change as one of its key topics. The company aims to manage its direct and indirect emissions throughout the value chain and mitigate its contributions to climate change in line with net-zero methodologies. In 2022, Coca-Cola recorded 4.4 million metric tons for scope 1 emissions, 3.5 million metric tons for scope 2 emissions, and 57.0 million metric tons for scope 3 emissions.
The company acknowledges the need to reduce its emissions and mentions steps taken to achieve this. These steps include transitioning to renewable energy, using alternative fuels, and improving energy efficiency through new equipment and processes. The company also focuses on reducing the environmental footprint of its buildings and facilities.
As of 2022, Coca-Cola has achieved a 7% reduction in emissions across Scopes 1, 2, and 3, indicating progress toward the science-based reduction target of 25% by 2030, measured against a baseline from 2015. Coca-Cola has set ambitious sustainability goals, targeting 100% global recyclability of packaging by 2025 and a commitment to incorporate a minimum of 50% recycled content in packaging by 2030. The company also aims to collect and recycle one bottle or can for each unit sold by 2030. Further environmental initiatives include a cumulative reduction of 3 million metric tons of virgin plastic derived from non-renewable sources between 2020 and 2025. Additionally, by 2030, Coca-Cola aspires to have at least 25% of its beverages worldwide, by volume, sold in refillable/returnable glass or plastic bottles or in fountain dispensers featuring reusable packaging.
In conclusion, Coca-Cola is actively working towards achieving net-zero targets by 2050 as part of its sustainability efforts. The company recognizes the importance of addressing climate change and has taken steps to reduce its emissions. Investments have been made and are expected to be made in the future to support emission reduction efforts.