We’ve done it for 34 years, changing the paths of more than 6,600 young people ready to change the world. Earning and maintaining the trust of our consumers and our communities, should be at the heart of all of our activities, if we want to remain leaders in sustainability. Now, we have a target that is approved by external, credible experts, verified through relevant scientific methodology. That makes a big difference, both for external stakeholders, as well as to our management. We know, for example, that our renewable energy strategy will be of key importance and now we can present some hard facts that show our initiatives are going to have positive impact. As I mentioned, we were part of the pilot of the Sectoral Decarbonisation Approach – the specific methodology developed by the Science-Based Targets Initiative.
Building on Bruce’s relationship with company leadership, we went beneath the surface to re-imagine and re-engineer the hidden systems behind cultural, economic and environmental structures. As is often the case, the biggest opportunity was found in the details of the mundane. Explore InfluenceMap’s full ranking of Climate Action 100+ focus companies.
HSR threshold adjustments and reportability for 2022
The company’s Relationship Score is not applicable when it does not maintain significant links to industry associations actively influencing climate policy (as per InfluenceMap’s current database). The company’s other reporting on climate provides the context for evaluating the financial statements, but is not separately assessed. • There is a committee (not necessarily a board-level committee) responsible for climate change and that committee reports to the board or a board-level committee.
Here Galya Tsonkova, Environment Manager for Coca-Cola HBC, talks us through the process and rationale for setting a Science-Based Target. In North America, we took aggressive steps in 2015 to accelerate the refranchising of Company‑owned bottling territories with the goal of completely refranchising our North America bottling system by year‑end 2017. We also announced a transaction to form a unified new bottling partner in Western Europe and took action to improve our bottling system in Southern and East Africa, Indonesia and China. By year‑end 2017, we expect Company‑owned bottlers to produce just 3 percent of our global volume, down from 18 percent today.
Improved the health of Canada’s freshwater ecosystems under threat from climate change by supporting community-driven projects that benefit people and nature. The fact that we had already implemented our “Accounting for Sustainability” project and practices in which we defined our internal cost of carbon made it easier to get official approval and endorsement from senior management. It is through the implementation of such initiatives that we demonstrate that sustainability is an organic part of our culture and long-term business strategy. It also enables us to communicate clearly what is needed to maintain our leadership position in this area. Part of the solution was “zero‑based work”—a way of looking at our business that starts from the assumption that organizational budgets start at zero and must be justified annually, not simply carried over at levels established in the previous year.
The level of a company’s industry associations’ support for Paris-aligned climate policy. The company takes action to support financially vulnerable customers that are adversely affected by the company’s decarbonisation strategy. The company has made a formal statement recognising the social impacts of their climate change strategy—the Just Transition—as a relevant issue for its business. The company’s executive remuneration scheme incorporates climate change performance elements. The target (or, in the absence of a target, the company’s latest disclosed GHG emissions intensity) is aligned with the goal of limiting global warming to 1.5°C.
- In emerging markets, we focused primarily on increasing volume, keeping our beverages affordable and strengthening the foundation of our future success.
- Few industries have changed more rapidly in recent years than the nonalcoholic beverage industry.
- Explore the big challenges, opportunities, debates and frameworks for business and human rights.
- As mentioned before, we first set internal carbon reduction targets in 2006 so we were not starting from scratch.
- Recognizing this new reality, WWF and The Coca-Cola Company renewed our partnership for three more years in August 2021.
The company discloses the methodology used to determine the Paris alignment of its future capital expenditures. The company’s decarbonisation strategy specifies the role of ‘green revenues’ from low carbon products and services. Indicator 5 is sector neutral, assessing the key elements that should comprise any company decarbonisation strategy. Sector-specific expectations can be found in the Climate Action 100+ Global Sector Strategies.
Contingency: Metric 10.2b cannot be ‘Yes’ unless metric 10.2a is also ‘Yes’.
The company has set an ambition to achieve net-zero GHG emissions by 2050 or sooner. This calculation accommodates an assessment of the strength of the relationship between a company and an industry association, for example a stronger weighting will be attributed where a company has a representative on the board of an industry association. Above 25% indicates increasingly active and strategic policy engagement as the percentage nears 100%, with the highest Climate Action 100+ companies currently scoring around 60%. This Metric focuses on the use of assumptions and estimates that are ‘best estimates’ of scenarios aligned with achieving net zero emissions by 2050 or sooner (‘aligned assumptions’), or the provision of a sensitivity analysis using such assumptions and estimates. This Metric focuses on the auditor’s disclosure of Key or Critical Audit Matters (K/CAMs) as applicable under the relevant auditing standards. Discussions may either be in a separate climate-related K/CAM or on specific accounting topics.
Many consumer staples stocks have outperformed the broader market so far this year as they offer growth and value despite tough operating conditions for many businesses. Our food systems demand sunlight from the fieldsto the board rooms. You’ll find our visionary leaders refreshing the world achieving all over the globe, and their impact reflected in nearly every sector from business to nonprofit to public service.
Long-term (2036- GHG reduction target(s)
The criteria used to assess non-European companies will be an ongoing area of development as part of broader discussions on the use of green revenue classification systems and regional taxonomies. Offsets will be an area for future development in the Net Zero Company Benchmark. The company has made a qualitative net zero GHG emissions ambition statement that explicitly includes at least 95% of its Scope 1 and 2 emissions.
- We presented the proposal to set new science-based carbon reduction commitments to the Sustainability Steering Committee.
- If a company’s current emissions intensity is aligned with the assessment scenario used, it is assumed that the intensity will continue to be aligned in the short term.
- The company’s net zero GHG emissions ambition covers the most relevant Scope 3 GHG emissions categories for the company’s sector, where applicable.
The audit report identifies how the auditor has assessed the material impacts of climate-related matters. To be assessed as ’Yes’, the company must have been assessed as ’Yes’ for Metric 1a. Red—At the overall Indicator level, the company receives a ‘No’ on all Sub-indicators or Metrics that make up the indicator. At the Sub-indicator level, the company receives a “No” for all Metrics that make up the Sub-indicator. Amber— At the overall Indicator level, the company receives a ‘Yes’ on at least one Metric that makes up the Indicator.
This section contains a selection of key portals curated by our global team. The target is grounded in science, based on a specific methodology. It will help us to know that we are contributing and playing our part. In the past, companies would set targets without the necessary information fundamental analysis definition or a solid point of reference. They would just pick a round figure and aim for cuts of 20, 30, 40 per cent, with no further justification, other than generic aspirations. Few industries have changed more rapidly in recent years than the nonalcoholic beverage industry.
Public Safety Protocols
Offsetting or ‘carbon dioxide removal’ should not be used by companies operating in sectors where viable decarbonisation technologies exist. For example, offsetting would not be considered credible if used to offset emissions for a coal-fired power plant because viable alternatives exist to coal-fired power plants. The company’s net-zero 5 ways to double your money GHG emissions ambition covers the most relevant scope 3 GHG emissions categories for the company’s sector, where applicable. Amber—The company’s Organisation and/or Relationship score is between 50-74%. Clarifications have been added to Metric 6.1b to enable assessment of companies’ plans to phase out carbon intensive assets.
- The fact that we had already implemented our “Accounting for Sustainability” project and practices in which we defined our internal cost of carbon made it easier to get official approval and endorsement from senior management.
- The methodology quantifies key outcomes, including the share of its future capital expenditures that are aligned with a 1.5° Celsius scenario, and the year in which capital expenditures in carbon intensive assets will peak.
- Amber—The company’s Organisation and/or Relationship score is between 50-74%.
Transparency is the first step toward curbing toxic corporate influence.At the very least, these corporations should level with the shareholders and the public about these activities. Having to do so will make these corporations think twice about bankrolling, for instance, public officials that are assailing voting scrum methodology and project management rights, abortion rights, labor rights, public health, and climate action. For example, Coca-Cola funded the global industry lobby group International Life Sciences Institute for decades to produce research and to stall progress on vital nutrition and public health policy in India, Mexico, China, and Brazil.
In 2015, floods killed more than 200 people in Accra, the nation’s capital; a later government report found that trash clogging waterways helped to make the flooding worse. Based in Washington, D.C., ILSI boasts 16 affiliated chapters across the world dedicated to creating a favorable regulatory environment for some of the world’s biggest polluters, public health offenders, and labor rights abusers. Coca-Cola HBC commits to reduce Scope 1 and 2 emissions by 50% per liter of produced beverage by 2020, compared to 2010 and reduce emissions across the total value chain by 25% per liter of produced beverage over the same period. Coca-Cola HBC has also committed to developing additional supporting Scope 3 targets in 2016. The Coca‑Cola Company has always been a creator of refreshing beverage brands.
This helped us to fine-tune and calibrate the tool and when we saw it published, we were pleased to recognize that our feedback had been taken into account. As we took steps to rebuild our growth momentum, we knew we needed to invest in more and better marketing while also increasing our financial flexibility. To these ends, we increased our efficiency and productivity while reducing costs. Creating value for our Company and customers looks different in different countries, and we did a good job segmenting our markets to drive revenue growth in 2015.
Beware Sectors With Low Barriers to Entry
The company has set a target to increase the share of ‘green revenues’ in its overall sales OR discloses the ‘green revenue’ share that is above sector average. The company quantifies key elements of this strategy with respect to the major sources of its emissions, including Scope 3 emissions where applicable. The company’s net zero GHG emissions ambition covers the most relevant Scope 3 GHG emissions categories for the company’s sector, where applicable. The Company’s segments include Europe, Middle East and Africa; Latin America; North America; Asia Pacific; Global Ventures; and Bottling Investments.