I’m proud to announce that today we’ve taken another important step in our sustainability journey by setting an ambition to reach net zero greenhouse gas (GHG) emissions by 2040.
To support this ambition we have set a target to reduce absolute GHG emissions across our entire value chain by 2030.
This target has been validated by the Science Based Target Initiative (SBTi) as being in line with a pathway to limit global warming to 1.5ºC –
the goal of the Paris Climate Agreement.
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.
Our focus will be on reducing emissions across our entire value chain – from the raw ingredients we source and the packaging we use, to the drinks we sell. However, we can’t achieve this alone. Over 90% of our GHG emissions are related to the activities of our suppliers, so we will be supporting them to:
- Set science-based GHG emissions reduction targets by 2023
- Use 100% renewable electricity across their operations by 2023
- Share their carbon footprint data with us
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.
Over the last decade we have significantly decarbonised our business. I am proud of what we have achieved through the work of our colleagues, partners and stakeholders to deliver against our This is Forward sustainability action plan.
We’ll explore how to make our manufacturing sites fossil-fuel free and will transition six of our manufacturing sites to be carbon neutral by the end of 2023.
We have accelerated our ambition to use zero virgin oil-based PET in our plastic bottles within a decade. We introduced new packaging solutions this year, such as CanCollar and KeelClip paperboard, and we will innovate in refillable packaging and dispensed technology.
But we can and must do more. Our ambition is supported by a €250 million investment over three years and by integrating a carbon reduction target into our long-term incentive plan for leaders. These actions are some of the steps we’ve taken to put sustainability at the heart of our business and hold ourselves accountable.
This is an important moment for our business. We are demonstrating our commitment to go even further and faster to help tackle climate change and create a better future. I’m thankful to our colleagues, partners, suppliers and stakeholders for supporting us on this journey. Together, we can make a difference.