Net Zero by 2040

To reach Net Zero by 2040, we will reduce our direct emissions to an absolute minimum, and we will work in partnership with our suppliers and other partners in the value chain to eliminate the 90% of our carbon footprint that results from indirect scope 3 emissions.

We were among the first companies to adopt science-based reduction targets by the Science Based Targets initiative (SBTi). Our aim is to achieve net zero emissions across our entire value chain by 2040. Each year we make steady progress towards this target. We have decreased our absolute direct emissions by 58% and reduced our absolute total value chain emissions in scope 1, 2 and 3 by a third from 2010 to the end of 2024, despite a global increase in emissions. In 2024, we made important changes to our net zero roadmap after the SBTi validated and approved:

• Renewed climate targets for 2030 and NetZeroby40, including Egyptian operations for the first time.
• Targets for Forest, Land and Agriculture (FLAG) that apply to commodities from forestry, land and agricultural sectors. These are covered in our scope 3 emissions, for example, in packaging, wood and paper pulp, and ingredients such as sugar and fruit juices.

These changes are now reflected in our climate transition plan with a clear set of actions on how to achieve these targets. We will report on these from 2025:

• In scope 1 and 2 we will follow the 1.5°C pathway for 2030 and 2040.
• In scope 3, we will split our targets into two categories: energy and FLAG. Our energy related targets will follow the Well-Below-2- Degrees (WB2D) scenario until 2030 and then the 1.5°C pathway until 2040, our net zero year.

A Robust Plan

Our NetZeroby40 commitment is fully aligned with our philosophy to support the socioeconomic development of our communities and to make a more positive environmental impact.

In accordance with the Climate Change Policy and our overall Environmental Policy, we will

• strive to reduce all our emissions across the value chain as much as possible by:
  • advancing the reduction of the energy used in our operations.
  • expanding our use of renewable energy technologies.
  • deploying more energy-efficient coolers in the marketplace.
  • accelerating our sustainable packaging agenda and our green fleet.
  • engaging with relevant stakeholders to combat climate change.
  • working with suppliers to reduce their carbon footprint and to minimise their climate impacts. 
  • setting roadmaps for emissions reduction for all our operations and the main steps in the value chain.
• keep CO₂ emission reduction targets as one of the elements of our long-term management incentive plans.
• work with other partners (industries, academia, non-governmental organisations (NGOs), governments, etc.) on climate change mitigation and climate change adaptation.
• consider all climate risks and opportunities and integrate them in our business strategy.
• investigate the opportunities for finding solutions for our residual emissions, such as biological and/or technological removals.
• monitor, report and audit our GHG emissions, targets, results and activities, and publish transparently our progress in our public files.

A Strong Track Record

Coca-Cola HBC was one of the first companies to commit to and deliver science-based targets.  In the last decade, we have halved our direct emissions and the CO₂ reduction plan to 2030 is already endorsed and approved on the 1.5 degree pathway.  

We were ranked as the world’s most sustainable beverage company in the 2024 Dow Jones Best-in-Class Indices for the eighth time. 

Our NetZeroby40 commitment is also endorsed by the “We Mean Business” coalition. Further we have joined the list of companies supporting the “Race to Zero” initiative. 

Download our Net Zero Transition plan. 

Download our NetZeroBy40 road map.