Sustainable Finance Initiative Award
Winner: Coca-Cola Europacific Partners
Entry Overview
Coca-Cola Europacific Partners (CCEP) developed an innovative sustainability linked supply chain finance programme to incentivise and reward suppliers for improving their ESG performance and supporting CCEP’s target of net-zero by 2040.
It provides highly competitive financing with incremental financing discounts being unlocked as suppliers deliver against sustainability KPIs that relate to: fulfilling CCEP’s 2019 request to to set SBTi-validated carbon-reduction targets by 2023; committing to using 100% renewable electricity across their operations by 2023; and improving their overall ESG Ecovadis rating.
The programme has proved hugely popular: 140 suppliers have joined, 134,000 invoices automatically processed, provision of €1.7bn financing, reducing average supplier financing rates by 16% and it has been used by 20% of carbon strategic suppliers.
Via CCEP’s partnership with Rabobank’s social impact fund, (Rabo Foundation) the company financially supports two smallholder programmes in Indonesia, promoting the adoption of sustainable practices to increase yields and achieve better long-term economic strength.
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Watch the Coca-Cola Europacific Partners team´s instant reaction to winning the coveted Sustainable Finance Initiative Award
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