Greenhouse gas (GHG) emissions are one of the major causes of rising global warming, and the Companies from the FMCG, retail, packaging, and food service sectors account for a significant amount of the global emissions. CO2, Methane & NOx gases form a major part of greenhouse gases released from Fossil Fuels such as gas and oil. Due to rising GHG emissions from companies, it became important among major contributing sectors to report gas emissions during their operations.
Companies from the consumer sector are under increasing pressure to reduce their carbon footprint. Consumers are becoming more aware of excess carbon dioxide emissions' detrimental environmental effects. Their consumption behavior changes due to this, and they take an active interest in sustainability issues.
The Coca-Cola Co (Coca-Cola) is a producer, distributor, and marketer of non-alcoholic beverages. It markets beverages under the brand names Sprite, Coca-Cola Zero, Diet Coke, Fanta, Powerade, Dasani, FUZE TEA, Minute Maid, Simply, Georgia, and Del Valle.
Total GHG emissions (Scope 1 & 2) of Coca-Cola in 2021 were 5.17 million tonnes CO2 equivalents (MtCO2eq), an increase of 8% from 2020. The FMCG company aims to reduce its absolute GHG emissions by 25% and to be carbon neutral by 2050.
GHG emissions are generally classified into Scope 1,2 & 3 emissions. Scope 1 includes direct GHG emissions from energy generated from fossil fuels and refrigerants. Scope 2 encompasses indirect GHG emissions from the on-site generation and purchase of electricity. Scope 3 involves manufacturing emissions from franchise bottlers.
Scope 2 emissions form the major portion of Coca-Cola’s total GHG emissions, accounting for around 69% of total GHG emissions, while Scope 1 accounted for around 31% of the total GHG emissions in 2021. Coca-Cola’s Scope 2 emissions increased by about 9% to 3.56 MtCO2eq in 2021.
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