Coca-Cola Europacific Partners partners with Risilience

Coca-Cola Europacific Partners (CCEP) has partnered with Risilience to support its ambition to reach net zero by 2040, and reduce greenhouse-gas (GHG) emissions across its value chain by 30 per cent by 2030 – versus 2019.

As part of CCEP’s broader climate strategy, the partnership will enable the leading consumer goods company to further understand climate-related risks, the impact of those risks on the business and support its TCFD disclosure.

The partnership will see CCEP use the Risilience SaaS platform to identify and understand short-term transition risks; including legislation change and consumer sentiment, and long-term physical risks – aligning this output with its wider enterprise commitments.

Marrying risk and sustainability

CCEP will use methodology and scenarios from Risilience’s academic partner, the Centre for Risk Studies at the University of Cambridge Judge Business School, to ensure that climate risk and opportunity assessment fits into the corporate ERM framework – a key requirement of the TCFD.

Joerg Osterloh, head of Enterprise Risk Management, CCEP, said: ‘We have made important progress towards our net zero ambition, already reducing greenhouse-gas emissions by 30 per cent since 2010.

“Working with Risilience and leveraging the models generated by the platform is a big step forward in our risk and sustainability strategies. Our work with Risilience will allow us to assess the impact that climate is having on our business and the impact of our business on climate. As we move forward with our emissions-reduction targets this insight will be of great value.”

Andrew Coburn, CEO, Risilience, added: ”We are very excited to partner with CCEP on its risk and climate strategies.

”CCEP has made significant progress to date. We look forward to delivering actionable data and insights, through our platform, that will help the team to understand climate and the wider risks, and positively impact both in the short term.”

In April, CCEP announced that its mineral water bottling plant in Chaudfontaine, Belgium has been certified as carbon neutral as part of a programme that aims for at least eight sites to become carbon neutral according to the international standard PAS 2060 by the end of 2023.