CCEP (Coca-Cola European Partners) has ring-fenced €250 million to help the company meet its commitment of net zero emissions by 2040.
The ‘decarbonisation’ of its business will be accelerated and the first target is to reduce greenhouse gas emissions across its entire supply chain by 30% by 2030.
CCEP adds that it will reduce greenhouse gas emissions across all five areas of its value chain: ingredients, operations, transportation, refrigeration and packaging.
The three-year, €250 million investment will include sustainable packaging initiatives such as the progression of its 100% rPET roadmap and in scaling depolymerisation technology., CCEP has already transitioned to 100% rPET bottles in the Netherlands and Norway.
In order to meet its goals, CCEP has also set targets for 100% of its strategic suppliers –including key ingredients and packaging suppliers – to set their own science-based targets and use 100% renewable electricity.
“By engaging key suppliers in the shared objective of aligning with science and investing in renewable energy, not only will they [CCEP] tackle the biggest emission reduction challenges but also contribute to the green recovery”, María Mendiluce, CEO of the We Mean Business coalition, said.
The commitments build on the work undertaken over the last decade to reduce emissions across the chain by 30.5% from 2010 levels.
CCEP will also invest in projects which remove carbon from the atmosphere or verified carbon offset projects.
“Our vision has always been to deliver loved brands, done sustainably, and today we recognise the even greater urgency to address climate change, one of the most serious and complex challenges facing society and our planet”, Damian Gammell, CEO of Coca-Cola European Partners said. “We have developed an ambitious plan to reduce greenhouse gas emissions which uses absolute science-based carbon reduction targets to underpin our ambition and chart our progress.”
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