Julian Hunt on the importance of a complete value chain approach when striving for sustainability
After the Sustainable Innovation Forum 2021, Climate Action caught up with Julian Hunt, Vice President at Coca-Cola Europacific Partners, to discuss the importance of a complete value chain approach when striving for sustainability.
After the Sustainable Innovation Forum 2021, Climate Action caught up with Julian Hunt, Vice President at Coca-Cola Europacific Partners, to discuss the importance of a complete value chain approach when striving for sustainability.
Can you tell us how Coca-Cola is working to advance the transition to net zero?
First, and most importantly, we have committed to get to NET ZERO, across our entire value chain, scope 1,2 and 3, by 2040; second, we have made a new commitment to move faster in the short-term. We will remove an additional 30% emissions across our total value chain by 2030. To achieve this we have put an immediate, 3 year, €250m investment package against 22 key projects across CCEP; finally we have now linked carbon reduction to the long-term incentive plan of our senior leadership team to ensure decarbonisation remains a priority objective.
Second, we have made a new commitment to move faster in the short-term. We will remove an additional 30% emissions across our total value chain by 2030, focusing on decarbonising our business, not offsetting;
What are your key areas of focus for reducing emissions?
We are taking action to reduce emissions across our entire value chain, from the ingredients we source and packaging we use, to the drinks we sell. Areas for immediate action include: accelerating our switch to recycled plastic (includes our recent launch of100% rPET); continuing to reduce the weight of our packaging; introducing more efficient cold drinks equipment; transporting more of our products by train; using more electric vehicles; and transitioning six manufacturing sites across Europe to become carbon neutral by the end of 2023.
How important is a complete value chain approach to sustainability and why?
We recognise that more than 90% of our value chain emissions sit in scope 3, so with our supplier base. We will work with over 100 key strategic suppliers encouraging them to set their own science-based targets by 2023, shift to 100% renewable electricity and share their carbon footprint data with us.
Collaboration is going to be required on a scale never seen before if we are to achieve a global net zero economy. How can we utilise cross-sector partnerships to help accelerate the net zero transition?
As a major business, we see collaboration as critical and we will use our voice to influence public policy and work with others to help drive the transition to a low-carbon future. CCEP is a proud member of the We Mean Business coalition, as well as a member of The Climate Group’s RE100 initiative, under which we achieved our target of purchasing 100% renewable electricity in 2018. As a member of the Corporate Leaders Group, we support a significant increase in the EU GHG emissions reduction target for 2030, in line with the EU’s goal to become carbon neutral by 2050.
Coca-Cola Europacific Partners are speaking at the Sustainable Innovation Forum 2021, to join them register here now.
