Coca-Cola Europacific Partners receives validation from the Science Based Targets initiative for its goal to achieve net-zero emissions by 2040

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November 2, 2023 (press release) –

Coca-Cola Europacific Partners (CCEP) has received validation from the Science Based Targets initiative (SBTi) for its ambitious goal to achieve net-zero emissions by 2040. CCEP's updated science-based targets include a 30% reduction in absolute scope 1, 2, and 3 greenhouse gas (GHG) emissions by 2030, and a 90% reduction by 2040, compared to 2019 levels. To reach these targets, CCEP plans to develop carbon reduction roadmaps, invest in decarbonization efforts, increase the use of recycled plastic, and transition to 100% renewable electricity by 2030.

Key Highlights:

* CCEP aims to support its suppliers in setting their own SBTi targets and shifting to renewable energy.

* The company has already made progress in areas such as renewable electricity use and the use of recycled plastic in bottles.

Original Press Release:

Nov. 1 -- Coca-Cola Europacific Partners issued the following news release:

Coca-Cola Europacific Partners’ (CCEP) ambitious target to reach net zero by 2040 has been validated by the Science Based Targets initiative (SBTi) as in line with climate science

CCEP’s updated science-based targets include a short-term target to reduce absolute scope 1, 2, and 3 GHG emissions 30% by 2030 (vs. 2019), and a long-term target to reduce its absolute scope 1, 2, and 3 GHG emissions 90% by 2040 (vs. 2019).

To achieve these targets, CCEP will continue its work to build carbon reduction roadmaps across all  its markets, and to build a low-carbon transition plan.

Between 2020 and 2022, CCEP has invested €300 million to help support decarbonisation; including efforts to accelerate the use of rPET across all its markets.

Going forward, CCEP will continue to support its carbon strategic suppliers (which represent around 80% of CCEP’s scope 3 GHG emissions)  to set their own SBTi targets and shift to renewable electricity, while increasing the recycled content of all its packaging , and switching to 100% renewable electricity by 2030 across all its own operations.

Megan Mitrevski-Dale , Environmental Sustainability Director, said:

“Deep decarbonisation will be critical to reducing global GHG emissions in line with a 1.5 pathway, which is why we’re incredibly proud to have had our target validated by the Science Based Targets initiative.

“As one of the first 10 companies to set an SBTi-approved target, we appreciate the value that it will bring in driving progress across our business, and our value chain - in particular with our suppliers."

CCEP was one of the first companies to set a SBTi approved target in 2017. Since then, key progress includes:

* Reaching 74% renewable electricity use across all markets

* Achieving CCEP’s target to use at least 50% recycled plastic (rPET) in plastic bottles four years early in Europe , setting an ambition to use 50% recycled plastic in API by 2025

* Launching a sustainability-linked supply chain finance initiative to encourage suppliers to set their own Science-based targets and switch to renewable energy

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

[Category: Beverage & Tobacco, Soft Drinks, Partnerships and Alliances]

Source: Coca-Cola Europacific Partners

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