Coca-Cola European Partners (CCEP) has announced that it aims to attain zero greenhouse gas (GHG) emissions by 2040.
By 2030, the company plans to reduce absolute GHG emissions across its entire value chain, beginning with sourcing raw ingredients for packaging materials.
The goal has been validated by the Science Based Targets Initiative (SBTi) and aligns with a pathway to limit global warming to 1.5ºC, which is the Paris Climate Agreement's goal.
The company will invest €250 million to execute this plan, which aims to tackle climate change and create a better future.
CEO of CCEP, Damian Gammell, explained, "Rigorous, science-based, carbon reduction targets underpin our ambition. We will chart and report our progress – and we want to encourage more businesses to adopt this approach."
CCEP also plans to help its suppliers reduce emissions as 90% of its GHG emissions are linked to their activities. It recently announced plans to make two of its manufacturing sites entirely carbon-neutral over the next three years.
By 2023, it aims to help suppliers set science-based GHG emission reduction targets and switch to 100% renewable electricity across their operations.
It will also encourage these companies to share their carbon footprint data.
Over the last decade, CCEP has achieved a significant reduction in carbon emissions as part of its 'This is Forward' sustainability action plan.
Gammell stated, "We have committed to a 'reduction-first' approach – prioritising a reduction in GHG emissions as far as we possibly can. Where we can't reduce emissions any further, we'll invest in methods to remove carbon from the atmosphere or verified carbon offset projects."
CCEP will continue to explore means to make manufacturing sites fossil-fuel free, and added that six of its manufacturing sites are to attain 'carbon neutral' status by the end of 2023.
This year, the company introduced new packaging solutions, such as CanCollar and KeelClip paperboard, and announced plans to transition to 100% recycled PET for locally-produced bottles in Norway and the Netherlands.
Elsewhere, the business recently strengthened its commitment to an inclusive workforce by announcing its support for two global gender equality initiatives.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.