Sustainability Consulting
Science Based Targets Partner Sustainability
Full Credential Description
Coca-Cola HBC faced the challenge of setting ambitious and scientifically grounded carbon reduction targets as part of their sustainability strategy. The company had previously established carbon reduction commitments in 2006 but recognized the need to elevate their approach to align with the latest scientific methodologies. To address this, they participated in the pilot of the Sectoral Decarbonisation Approach, which allowed them to test and refine their targets in collaboration with the Science-Based Targets Initiative.
The tailored solution involved presenting a comprehensive proposal to the Sustainability Steering Committee, which included developing convincing messaging and long-term sustainability case studies to secure senior management buy-in. They implemented an "Accounting for Sustainability" project to define their internal cost of carbon, facilitating the approval process. Additionally, Coca-Cola HBC empowered country carbon champions to ensure that all business functions were engaged in the implementation of the carbon reduction strategy, with the Group carbon team aligning and tracking initiatives across countries.
As a result of these efforts, Coca-Cola HBC committed to reducing Scope 1 and 2 emissions by 50% per liter of produced beverage by 2020, compared to 2010 levels, and aimed to reduce emissions across the total value chain (Scope 1, 2, and 3) by 25% per liter over the same period. The company also planned to develop additional Scope 3 targets related to cold drink equipment and packaging. The establishment of these science-based targets not only enhanced their credibility with external stakeholders but also positioned Coca-Cola HBC as a leader in sustainability within the beverage industry, reinforcing their commitment to long-term operational integrity and community trust.