To suppo this ambition we have
set a target to reduce absolute
GHG emissions by 30% by 2030
(versus 2019) – aligned with a
pathway to limit global warming
to 1.5°C – the goal of the Paris
Agreement.
Packaging is central to our carbon
reduction goals. Crucial to this is
accelerating our ambition to use
zero virgin oil based PET in our plastic
boles. As we continue working
towards a circular economy for
packaging, I am proud that Sweden
became our first 100% rPET market
in 2020 and the first in the Coca-Cola
system. We also invested in new
solutions like CanCollar® and
KeelClip, and we continue to explore
innovative solutions in refillable
packaging and dispensed
technology.
Our sustainability ambition will
be suppoed by a €250 million
investment over three years. This will
enable us to go even fuher and
faster to help tackle climate change
and create a beer future. We have
a responsibility to the communities
we serve to keep taking this action
on climate. We know it will be a long
and challenging journey – there
are no quick fixes – but we are
determined to drive this change as
fast as we can and to play our pa
in helping and influencing others.
We’ve made significant progress
so far, and looking ahead, we will
continue to help lead the transition
to a low-carbon future by puing the
environmental impact at the hea of
our decision making. I know that our
people want it to be truly embedded
within our culture at CCEP.
Sol
We are commied to creating
and driving a green future. It’s a
core pa of our effo to become
a stronger business, suppoing
our customers, consumers and
communities and returning value
to our shareholders. This is reflected
in our decision to integrate a
carbon reduction metric into our
management’s Long-Term Incentive
Plan (LTIP) for the first time in
2020, making us an early adopter
in this space.
I am also proud that we continue to
be recognised for our sustainability
effos. We are one of just four
beverage companies to be included
in the Dow Jones Sustainability
World and European indices and
for the fih year in a row, CCEP was
included in the Climate Disclosure
Project (CDP) Climate and Water
A Lists for 2020.
Our communities are counting on us.
CCEP has been proactive in drawing
aention to the impoance of
securing a “green” recovery and a
more inclusive society – which has
a critical role to play in suppoing
communities, economic growth,
employment and development.
Sustainability is a subject that I
personally feel very strongly about
and I’m thankful to our colleagues,
paners, suppliers and stakeholders
for suppoing us on this journey.
Together, we can make a difference.
READ MORE ABOUT OUR SUSTAINABILITY PLAN AND OUR
PROGRESS AGAINST OUR TARGETS ON PAGES 22–37
How is CCEP’s relationship
with TCCC developing?
Damian
CCEP has always been
closely aligned with TCCC
strategically and this has been clearly
demonstrated through our agile
collaboration and decision making
during the pandemic. Together we
ensured the continuity of supply of
the products our consumers wanted
to buy by prioritising core brands
and packs. We also launched new
brands into our markets such as
Costa and Topo Chico, which we look
forward to scaling up fuher in 2021.
TCCC’s suppo for the proposed
acquisition of CCL is fuher
endorsement of the strong
alignment we have built since the
formation of CCEP.
Sol
As the COVID-19 crisis began,
we worked closely with TCCC and the
Coca-Cola Foundation to provide
substantial aid to fund the fight
against COVID-19, channelled
through the Red Cross and local
NGOs. Many colleagues continue to
be personally involved in suppoing
the most vulnerable people in their
local areas and we’re really proud of
them. As we move through this crisis,
we are continuing to work with TCCC
in helping our communities recover
in a sustainable way and ensuring
businesses and governments
prioritise science based climate
action. Impoantly, our sustainability
strategy and our ambitious plans to
work towards a net zero future
are fully aligned with TCCC’s
global World Without Waste
and climate strategies.
How is CCEP positioned for
growth in 2021 and beyond?
Damian
While there remains some
unceainty about the duration and
impact of the pandemic, the rollout
of COVID-19 vaccines brings new
optimism. We are confident that we
will emerge from the pandemic as an
even more efficient and sustainable
business, underpinned by three key
pillars: great people, great service
and great beverages.
Our category is robust, resilient and
set to keep growing in the long term.
Our focus must be on outpeorming
the market – growing faster and
expanding share. We will continue
to adapt to changes in consumer
behaviour by focusing on the brands
that our consumers love while
extending into exciting new areas
such as coffee and hard seltzers.
To suppo our ambitious growth
plans, we will continue to invest but
in a more targeted way, focused on
the biggest oppounities – the
capabilities and technology that our
people need to win. This will require
us to manage our costs, making
choices about our spending and
developing ways to be more efficient
and reduce complexity. This has been
a long-term priority for CCEP, and
with the sustained unceainty and
changes to consumer behaviours
that COVID-19 is creating, we must
accelerate these effos. In fact, the
pandemic has strengthened our
determination to go fuher and
faster in building a greener and more
digital future for our business.
Sol
The COVID-19 crisis has had
an unprecedented impact on our
business and the communities we
serve, but we face the future with
hope, optimism and confidence.
The speed at which our business
reacted to the pandemic gives us
confidence that we will emerge from
the pandemic as an even more agile
and efficient business. We have
a strong team of dedicated,
talented and engaged colleagues.
We will continue to put our bold
sustainability commitments at the
hea of our business as we help our
customers and communities rebuild
and recover in 2021 and beyond.
The acquisition of CCL is also truly
exciting, and I’d like to thank all
our colleagues, stakeholders and
investors for continuing to be a pa
of our journey.
Sol Daurella, Chairman
Damian Gammell, Chief Executive Officer
17Coca-Cola European Paners plc | 2020 Integrated Repo and Form 20-F