The Global Impact

Our World Without Waste Progress

08-23-2022

Coca-Cola Philippines today shared the three-year progress of their ‘World Without Waste’
program at an online event for media and stakeholders, including the latest details around
their efforts to drive a circular economy in the Philippines and an update on PETValue
Philippines, their pioneering bottle-to-bottle plastic recycling facility set to open in early 2022.

In 2018, The Coca-Cola Company pledged robust ‘World Without Waste’ global goals to help
collect and recycle the equivalent of a bottle or can for every one the company sells by 2030;
to make 100% of its packaging recyclable by 2025; and to use at least 50% recycled material
in its packaging by 2030. In the Philippines, the company and its local bottling partner
Coca-Cola Beverages Philippines, Inc. are strongly committed to these goals.

“When we shared our World Without Waste roadmap for the Philippines three years ago, we
recognized at that time that it was an ambitious goal. But, together with fellow businesses,
recyclers, government agencies, NGOs, and community organizations in the Philippines, we
have made progress. There’s still a lot more to do and we are energized by the prospect of
creating a circular economy for recyclable PET plastic here in the Philippines,” said Tony del
Rosario, Coca-Cola Philippines president, and VP for franchise operations for Coca-Cola ASEAN
& South Pacific – East Region.

Over the last three years, the company has rolled out packaging innovations and partnerships
in the Philippines towards the global World Without Waste goals including:

• Launching the first beverage brand in the Philippines to be made from 100% recycled
plastic – with Viva! Mineralized Water followed by Sprite 500ml plastic bottles also
made from 100% recycled plastic.

• Changing their iconic Sprite bottles in the Philippines and other parts of the world from
green to clear plastic to make the bottles easier to recycle into something new. Clear
plastic bottles are more likely to be collected and recycled compared to colored plastic
bottles.

• Supporting packaging collection initiatives and working together with other industry
partners, recyclers, government agencies, and NGOs to accelerate a closed loop
economy in the Philippines. This includes investing in the largest, state-of-the-art
bottle-to-bottle recycling facility in the Philippines, allowing recyclable plastic bottles
to be used again and again.
 • Launching more than 40 grassroots partnerships to support the ’informal collection’
sector, helping to improve working conditions, health and safety, job stability and
income. With support from the Coca-Cola Foundation in the Philippines, these
programs are now operational across 36 cities and municipalities.

Today, Coca-Cola announced milestones and upcoming initiatives in the Philippines as it

continues with its World Without Waste journey. The company has pledged to use more
recycled content in its line-up in the Philippines starting 2022 and beyond, as it expands the
number of products that use 100% recycled PET in its packaging. By next year, the company
will also be phasing out the use of unrecyclable sachets from its packaging portfolio in the
Philippines. The Company is also introducing paper straws for its juice and dairy products.
With these decisions, the company will be fast-tracking the achievement of its commitment
to make 100% of its packaging recyclable by 2025. Today, all the Company’s bottles and cans
are recyclable by design, on top of how Coca-Cola’s business in the country remains to be in
refillable glass bottles.

The Company has also been light weighting its recyclable (PET) plastic packaging, which has
resulted to the removal of approximately 10,000MT of new or virgin plastic materials from its
packaging. To mention a few examples, its packaging for single-serve (500ml and 330ml)
Wilkins and Viva! is now approximately 20-25% lighter, while its 500ml bottle for carbonated
drinks is now approximately 23% lighter.

“Our goal is to create closed loop systems, extracting the maximum value from packaging
materials and products while in use, then preventing them from becoming waste through
recovery, recycling and reuse,” said Del Rosario. “Ultimately, we aim for every package we
sell to be recycled and reused.”

In order to remind consumers to help recycle the bottle after they have enjoyed the drink,
Coca-Cola Philippines is launching this month a prominent ‘Recycle Me’ message on its package
labels across all its brands and products.

Coca-Cola also announced today that PETValue Philippines—the country’s first food grade
bottle-to bottle recycling facility—is set to be operational in the first quarter of 2022. The
2.28-billion-peso multi phased joint venture investment between Coca-Cola Beverages
Philippines Inc (CCBPI) and Indorama Ventures—a global leader in green technology and
packaging solutions— will significantly expand domestic recycling capabilities and accelerate
the development of a circular economy for recyclable PET plastic bottles in the Philippines.
The facility’s operations will also generate around 200 direct jobs for Filipinos.

In 2020, the Philippine Board of Investments (BOI), an attached agency of the Department
of Trade and Industry, granted “Pioneer Technology Status” to PETValue for its 8-step green
technology process for post-consumer PET plastic bottles. This is the safest and most
advanced recycling technologies for recyclable plastic (PET) bottles; the process includes
flaking, washing, extruding, and pelletizing, and solid state polycondensation or super-
cleaning and decontamination. The BOI grants the pioneer status to programs or projects that
involve manufacturing or processing activities that have not been done in the Philippines on
a commercial scale or use a system that transforms raw materials through new technologies.

PETValue’s projected capacity is approximately 30,000 MT of post-consumer PET plastic

bottles, equivalent to around 2 billion pieces of plastic bottles.
“Sustainability is not merely a buzzword for us, it is the way we do business and is manifested
across our operations— from water use to energy consumption, packaging innovation, fleet
management, and even our coolers in the market. Every step of the process of producing
Coca-Cola products, and in their post-consumption processing, is made with the highest
standards in mind,” says Gareth McGeown, CEO and President of CCBPI.

McGeown adds, “Despite the challenges of the pandemic, we did not lose sight of our
environmental targets and our commitment to making impactful investments. We are very
excited about PETValue and how it will positively influence and affect the country—from
making sure that our packaging doesn’t end up as waste, to the jobs it will generate for
Filipinos. We are certain that its effect will contribute to both the economic recovery of the
Philippines and its goals for responsible environmental stewardship.”

Senator Cynthia Villar, Chairperson of the Senate Committee for Environment and Natural
Resources, in a video message shares her thoughts on the three-year progress that the
beverage company has made towards its vision of a litter-free Philippines.

“I recall I attended its in July 2019 where the company declared its commitment to be a
responsible steward of its packaging from design, collection to recycling, and its brave vision
of collecting and recycling the equivalent of every bottle or can it will sell around 10 years’
time,” says Sen. Villar. “Coca-Cola’s initiative under its World Without Waste program are
clearly within the spirit of the Extended Producers Responsibility bill. I hope Coca-Cola, true
to its stature as one of the world’s iconic brands, will likewise serve as a genuine icon of an
ideal extended producers responsibility practitioner that either manufacturing enterprises
could emulate,” she further added.

Coca-Cola also said it would be supporting more zero-waste communities in the Philippines
as it continues to focus on capacity building for the informal sector. The company will support
the development of a vocational training toolkit and program for waste collectors in 2022 and
will pilot recycling awareness programs through micro retailers and sari-sari store owners
at the barangay level.

Meanwhile, Coca-Cola Foundation Philippines, its social investment arm, will continue to
replicate best practices, scale up working models, and develop high-potential communities
with waste management solutions that will demonstrate circularity and sustainable, positive
behavior change.

“Our projects in partnership with local government units and different organizations have
begun to change lives and ways of living at the community level. The Coca-Cola Foundation
Philippines remains committed to help and empower local communities as we continue to
make a difference together, one bottle at a time,” shares Cecile Alcantara, President of
Coca-Cola Foundation Philippines.

The challenge of packaging waste and plastic pollution is large, but it is not insurmountable
according to the beverage company. “This is a moment for all of us to accelerate the work,
the progress and the partnership towards a circular economy in the Philippines. And we at
Coca-Cola are fiercely committed to do just this,” del Rosario concludes.

Doing Business in the Right Way

120+ schoolhouses
08-24-2022

Red is the New Rainbow

The skies were dark even when the sun was just about to rise and the wind was blowing hard
it could actually take the galvanized roof when Shannel woke up that morning. She then took
a seat, turned on the radio, and eagerly listened to the news while the super typhoon Haiyan
struck the surface of Tacloban City.

The voice of the 11-year-old Shannel Gajerana was quite trembling yet ironically calm when
she narrated the devastation brought by the cyclone last November 8, 2009.

“In the morning, while we were sleeping, we felt the wind getting stronger so we hid under
the table before we transferred to the cemented house next door,” she said as she recalled
that very moment three years ago.

She admitted that they took the storm surge advisory lightly because most of them did not
understand what it might bring. Living with just her mother and two siblings, Sharina admitted
they had to leave their home to keep themselves safe.

The water rose quickly and lasted for more than an hour leaving roofless houses, torn down
walls, and a wrecked city.

Tricia Mae Corbilla and Michael Funcion, both grade six students, were among those who lost
their homes during the typhoon.

“We evacuated to the nearest Barangay Hall. We stayed there. When we went back to check
our house after the typhoon, our roof was already gone,” Michael recalled with a shaky tone
and tears almost falling from his eyes.

“We were really scared. It was as if God was mad because our trash went back to us. I thought
the world was going to end,” Tricia said with an obvious mixture of sadness and fear in her
voice.

“Today, even with just Signal No. 1, we all want to evacuate already,” she added defining the
trauma she and some of her classmates went through.

Tito Pajeres, the officer-in-charge of Marasbaras Elementary School in 2009, agreed that the
aftermath of super typhoon Yolanda was truly unimaginable. Their school was not an
exception.

“After the typhoon, the school was totally damaged. The rooms were totally devastated. It
was not even used as an evacuation center because it was flooded. The water reached half of
the school gate,” he mentioned describing the intensity of the typhoon.
The school was asked to resume a month after the havoc and that was when the trauma for
both the students and faculty was realized.

“During the first three days of our resume, there were times that they were crying. We shared
the same experience,” Pajeres recalled, referring to some students and teachers who lost
their homes and properties.

“We even lost one student. He was a grade one pupil. He drowned in the flood. He was
supposed to be in grade four now,” the teacher sadly added.

Yolanda may have washed off a lot of treasured lives and properties that left the people of
Tacloban in a state of trauma – but not the hope in their hearts and their passion in achieving
their goals.

The students and faculty of Marasbaras Elementary School found the rainbow after the storm
in the construction of the first typhoon-resilient Little Red School House (LRS) in their campus.

“I wasn’t really expecting that it will be given to us because they told me they are choosing
among three options. It really was a heard prayer,” Pajeres said remembering the negotiation
between him and the Coca Cola Foundation Philippines Inc.

The LRS built in Marasbaras Elementary School was a two-storey building with a helipad and
six classrooms which are fully equipped with chairs, tables, blackboards, and comfort rooms
– differing from the usual multi-grade LRS located in remote areas.
Aside from the building’s uniqueness in terms of structure, Marasbaras Elementary School
also boasts students with the purest passion and motivation for learning.

Pajeres proudly said the construction of the LRS brought an increase in their enrollees and
even in attendance because students find their newly-built classrooms more conducive for
learning.

“We do not have to discuss our lessons outside. The classrooms were already enough to
accommodate everyone. We do not have to endure the heat. It is more comfortable for us
now,” Michael said shyly but with a grin.

“Before, our school was very dirty. But now, it is already pleasing to the eyes. Coca Cola gave
this place color,” Shannel added with a genuine smile and sparkle in her eyes.

The LRS project helped not only in the rehabilitation of the school but also in the kneading of
its students’ bright futures. Pajeres proudly said that the Coca Cola Foundation project played
a vital role in bringing back the kids’ enthusiasm for learning.

“With the construction of the Little Red School House, I realized that we are not alone in this
battle. There are still people who are willing to offer everything to help us. We are very grateful
that our school was chosen."

Truly, the residents of Barangay Marasbaras found their rainbow after the destructive storm.
But this time, it is quite different, red, and unique.

250k women economically empowered and socially uplifted since 2011

08-24-2022
Coca-Cola delivered on its decade-long drive to enable the economic empowerment of 5
million women entrepreneurs, the company announced today on International Women’s Day.

In fact, the initiative known as 5by20® surpassed the ambitious goal announced in 2010 on
the margins of the United Nations General Assembly by then Chairman and CEO Muhtar Kent.
To date, 5by20 has reached more than 6 million women entrepreneurs—from fruit farmers,
retailers and restaurant owners, to artisans, recyclers and distributors—through access to
business skills training, financial services, peer networks, mentors and other resources.

5by20 set out to help women entrepreneurs overcome social and economic barriers to
business success—while creating thriving, sustainable communities. The vision was rooted in
the belief that investing in women, who are pillars of their communities, creates a ripple effect
of economic growth and sustainable change.

“By investing in women’s economic empowerment over the past decade, we have created
shared value in hopes of a better shared future—enabling improved livelihoods for women,
their families and their communities,” Chairman and CEO James Quincey writes in the 2020
5by20 report released today.

According to a 2018 International Monetary Fund report, women’s economic empowerment

boosts productivity, economic diversification, income equality and other positive outcomes.

“Above all, what we found through 5by20 is that when women have access to opportunity,
there is no limit on what can be accomplished,” said Bea Perez, global chief communications,
sustainability and strategic partnerships officer, The Coca-Cola Company.

We spoke with Norah Odwesso, senior director of social impact at The Coca-Cola Company
and 5by20 program director, about this important milestone and what’s ahead.

Much has changed in both the company’s business and the world at large since 5by20
launched. How has the initiative evolved over the years?

At first, 5by20 focused on women entrepreneurs across our global value chain… women who
own or manage small businesses we work with around the world. As the program evolved,
we realized that women entrepreneurs were not the only ones facing barriers. There was a
broader set of women who were potential entrepreneurs that then came into the program.
We, therefore, worked with partners to drive scale and deeper impact. In 2013, we expanded
the scope of 5by20 to allow for independent contributions by The Coca-Cola Foundation (the
company’s independent philanthropic giving arm) and other partners to extend our reach to
women who faced barriers and were conducting businesses outside the Coca-Cola value chain.
Beneficiaries of programs funded by The Coca-Cola Foundation have no link to our value
chain.
Additionally, we recognized that harnessing the power of technology would play a major role
in rapidly and flexibly scaling our programs, while ensuring effective delivery during the height
of the pandemic season, by giving women access to digital programming from their homes.
Digital resources have been available through 5by20 for a few years now, but their use
accelerated in 2020 when countries like the United States, Ukraine and the Philippines were
able to scale their programs through virtual digital training offerings.

The 5by20 initiative kicked off in Africa before scaling to other parts of the world. Why did we
start there?

We focused initially on four countries: Brazil, India, South Africa and the Philippines. One of
the biggest opportunities we identified was in Africa, where we worked through an innovative
distribution program in East Africa, referred to as the Manual/Micro Distribution Center (MDC).
These MDCs served as a foundational catalyst for 5by20 by showing us a model that played
a social development role while at the same time benefited our core business operations, and
were financed solely through business funding. This model also engaged several women
entrepreneurs. From research, we established that at least 86% of these outlets, which served
as hubs to distribute our beverages to other small retail customers, were owned and/or
operated by women. We identified an opportunity to start there and then scale up. We saw
similar opportunities in Latin America and Asia. As of the end of 2020, our total 5by20
programs expanded to more than 300 programs in 100 countries.

How did the company arrive at the total number of 5by20 beneficiaries (6 million)?

In order to be counted, women must: be at least 16 years old; participate in at least one
5by20 enabling activity; face barriers addressed by 5by20 program; and be either a current
or a prospective entrepreneur.

Beyond these numbers, what qualitative impacts did 5by20 have on participating
entrepreneurs?

When we speak to 5by20 entrepreneurs and listen to their stories, we find they’ve gained
greater confidence to set up and run their businesses. They’re reporting and enjoying
incremental income and the ability to support their families and make a bigger impact in their
communities. They’re inspiring other women to set up their own businesses with confidence.
It’s a powerful multiplier effect. We have proof points from independent research done by
Ipsos that also support this assertion.
What are some of key learnings from the 5by20 journey?

From the beginning, 5by20 was a shared value model with both a societal and commercial
impact. Engaging our leaders early on and helping them understand this important
intersection – that 5by20 would support women, who in turn would support their families and
their communities, while also driving our commercial imperatives – was foundational to the
long-term sustainability of the initiative.

Secondly, it was very important for us to build strong partnerships. We realized very early
that it wasn't possible for us as a company to scale up these programs and deliver the impact
we wanted on our own. This led us to partner with governments, civil society organizations,
our bottlers, and local implementing partners in the women's economic empowerment arena.
The Coca-Cola Foundation funded some of our programs through grants to recipients within
its Women’s Entrepreneur Empowerment priority giving tier.

We worked with multiple partners around the world, including global partners like UN Women,
the Bill & Melinda Gates Foundation, Technoserve and CARE, as well as numerous other
organizations at regional and country levels. Our global partners not only bring to the table
expertise, but they help deliver program design, local execution and support to scale these
programs. Our on-the-ground implementing partners, particularly in countries where our
presence may not be as strong, offer expertise in areas like gender equality and advocacy of
women's economic empowerment.

Finally, external validation and assurance were key to ensuring the credibility of this program.
It was important for our goal to be measurable, so we set up a rigorous counting methodology
to count women who had gone through the 5by20 program, and all markets were required to
provide supporting documentation. Our computation and verification processes were
externally and validated by PricewaterhouseCoopers and then independently assured by Ernst
& Young LLP.

How did 5by20 impact other Coca-Cola sustainability priorities like water and waste?

That’s a great question. There have been discussions around the intersectionality between
5by20 and our sustainability priorities. Our company’s water stewardship programs have
reached more than 400,000 women, who now have access to clean drinking water and,
therefore, have more time for other entrepreneurial activities. In fact, IPSOS research in 2018
clearly showed that when women don’t have to spend time looking for clean water, many of
them use this free time for economic activities. This important research established that of
the women who used saved time for economic activities, 91% saw an increase in income.
There are women entrepreneurs, many in Latin America and parts of Africa, who are recyclers
and waste collectors. And female farmers produce ingredients we use in our beverages, like
sugarcane and mangoes.

Now that you've achieved the target, what's next?

While we are pleased that we have achieved our decade-long goal, women's economic
empowerment continues to be a major global challenge and core priority for The Coca-Cola
system, both internally and externally. Internally, our goal is to mirror the diversity of the
communities in which we operate. We recently reconfirmed our 2030 goal to be 50% led by
women. Our external efforts will focus on supporting community resilience and as the impact
of our continuing efforts multiplies with each passing year, we expect to reach many more
women and underprivileged populations around the world.

Read a LinkedIn post on the 5by20 milestone authored by James Quincey, chairman and CEO,
and Mel Lagomasino, lead independent director.

132% of water used in our beverages returned to our communities and to nature

08-24-2022

Access to clean water for handwashing continues to be very important in the Philippines’
campaign against COVID-19. For people in big urban centers, the safety of handwashing
comes easy and without much thought as water flows freely on tap. But for some remote
communities, people need to take risky and long journeys to collect water for their families.

Despite the country being surrounded by large bodies of water, the irony is that one in 10
Filipinos still do not have access to the water resources necessary to sustain simple activities
like handwashing, cooking, and cleaning.
Coca-Cola Philippines, the country’s leading beverage company, is therefore taking seriously
its commitment to make a greater impact on communities with its 2030 water strategy. Water
stewardship has long been a business imperative for Coca-Cola, but the company aims to do
more to increase water use efficiency in the production of its beverages and to help
communities address local water resource challenges such as the availability of clean water.

Clean and safe water for communities

Coca-Cola’s global 2030 Water Security Strategy focuses on three priorities involving
operations, communities, and watersheds: Reducing shared water challenges around the
world, enhancing community water resilience, and improving the health of priority
watersheds.

“We have a long history in the Philippines and around the world of supporting local water
stewardship programs and we’re committed to doing more,” said Tony Del Rosario, Coca-Cola
Philippines President and VP for Franchise Operations for the ASEAN and South Pacific Unit-
East Asia Region. “For us, it’s a business imperative. Water is essential to our products and
the communities where we operate.”

Through its social investment arm, Coca-Cola Foundation Philippines, the company is also
giving back to the communities and nature with long-term water-driven initiatives. Since
2011, the Foundation’s Agos Program has coordinated with local partners in making safe
water accessible to underserved communities.

One such community is Barangay Kulasi in Sumilao, Bukidnon, where the collaborative effort
of Coca-Cola Foundation and Del Monte Foundation led to the establishment of a Level 2
Water System in March 2020. The project has given the community of approximately 600
residents closer access to clean and safe water for daily household consumption. This project
also provided training and education on proper water stewardship to ensure long-term impact.

From a single faucet, 25 communal faucets are now functioning, effectively eradicating
extreme poverty in Barangay Kulasi. Residents and local government units then continued
the work to develop a Level-3 water system, providing 98 out of 154 families with water
access within their own households this year. Savings from the initial project grant were also
utilized to rehabilitate part of the existing Level-2 water system to enable continuous supply
of safe water to 120 families in Sitio Basin, Brgy. Kuya in Maramag, also in the province of
Bukidnon.

“We’re committed to these ongoing types of community programs and we intend to sustain
the focus and engagement. We are thankful to our supportive partners for making sustainable
programs like Agos touch and improve the lives of many Filipinos,” said Cecile Alcantara,
President of Coca-Cola Foundation Philippines.

Industry-leading water initiatives

In recognition of its industry-leading water management practices, Coca-Cola Beverages

Philippines, Inc. (CCBPI)—the bottling arm of Coca-Cola in the country—was recently awarded
best in Water Resource Management by the European Chamber of Commerce of the
Philippines (ECCP) during its first Europa 2020 awards.
The citation for CCBPI’s intensive and comprehensive water efficiency programs, which it
applies in the operations of all of its 20 plants, covers water-saving initiatives — smart design
for optimal bottle washing, reducing unnecessary backwashing, recovering and reusing water
for maintenance tasks — and its use of advanced technologies. The latter includes the
company’s state-of-the-art wastewater treatment facilities that process used water to a
quality that is viable for return to the ecosystem.

The company continues to strengthen its water efficiency in all of its bottling facilities. In
2020, this translated to a 31% decrease in absolute water consumption and an improvement
in its water use ratio, or the amount of water used per liter of beverage produced. Its top
performing plants in terms of water efficiency include its manufacturing sites in Davao del
Sur, Misamis Oriental, and Bacolod.

“Our promise is that every bottle of Coke is being made with the highest standards of safety
and quality—and integral to this is our holistic approach to sustainability,” said Gareth
McGeown, President & CEO of Coca-Cola Beverage Philippines, Inc. “Our water management
systems are best-in-class, and this is just one facet of an entire infrastructure that also
includes the integration of energy efficiency and sustainable packaging into our operations.
From water stewardship and responsible energy use to ensuring that our bottles are
returnable and 100% recyclable—we are committed to being a company whose service to
local communities is anchored on sustainability.”

In the Philippines, Coca-Cola continues to exceed its goal of balancing or “replenishing” the
same amount of water it uses to make its beverages. An estimated 132% water replenishment
rate has been achieved in the Philippines through the company’s water savings initiatives,
operational efficiencies in manufacturing sites, as well as through community water programs
such as Agos. Through its new 2030 Water Strategy, Coca-Cola pledges to continue going
beyond good for the communities they serve and supporting water security for its operations,
local communities and watersheds.

257 AGOS sites inspire us to create more impact

08-25-2022

The Filipino word agos means “flow” and best illustrates our commitment to water
stewardship. The Agos Program provides poor communities with access to safe water,
supports watersheds, and educates communities on the importance of conservation in order
to ensure that water continues to flow for life.
Water for Domestic Use

Through our simple water systems, we link households to water sources so they can have
sufficient water for daily needs such as drinking, preparing food, bathing, and more.

A Closer Look

While many of us take water for granted, about 15 million Filipinos in remote communities
need to walk for several kilometers each day just to fetch clean water. This program was
designed to provide water access to these underserved communities. By making safe water
accessible to more families, we also reduce the incidence of water-borne diseases, ensuring
that residents can live healthier, happier lives.

10K+ direct employees serving customers and a growing number of distributors and
partners

COCA-COLA STRENGTHENS PEOPLE-FIRST COMMITMENT AMID PANDEMIC

MANILA, JULY 01, 2020 – With the COVID-19 pandemic heightening the value of solidarity
and unity, the importance of placing the needs of people front and center is amplified as well.
Whether they be the employees overseeing continued manufacturing operations, or
individuals contributing to the COVID-19 fight, ensuring that people are properly cared for in
order for them to carry on at their very best truly matters.

With this in mind, Coca-Cola reinforced its 108-year-old commitment to stand together with
Filipinos—first, by re-allocating P150M worth of advertising money to COVID-19 relief efforts.
Subsequently, Coca-Cola then continued to serve its customers through provisions of
essential hydration needs throughout the imposed community quarantines across the country.

These were actions that made manifest the Company’s “People First” approach, in which the
needs of the communities they serve as well as those of the people that make up their
organization, were prioritized. Since the onset of the pandemic, Coca-Cola has heightened
measures to protect the total well-being of its 10,000 employees nationwide, further raising
its already strict safety and sanitation standards, alongside efforts aimed at introducing
employee-driven healthcare initiatives. These initiatives include programs on mental well-
being and health, as well as modules on continuous personal and professional development
of all of its associates—whether they are working from home or serving as industry frontliners.

The ‘Life at Coke’ program

Its new employee program called “Life at Coke” focuses on personal development, healthy
interpersonal relationships, and open dialogue between management and the associates.

“Companies are responsible for helping their employees thrive in these most challenging
times,” says Coca-Cola Beverages Philippines, Inc. (CCBPI) President and CEO Gareth
McGeown. “The world that we live in has changed, and it continues to do so at a fast pace.
This requires us to adapt and, more importantly, to demonstrate empathy. We must support
our employees to make sure that they can acclimatize to these changes in healthy, accessible
ways.”

Through “Life at Coke,” the Company has rolled out programs such as helplines and support
groups, webinars on mental health in the workplace, and employee-led fitness sessions. To
boost morale and increase motivation, the Company also revamped its organizational
development system to allow for more promotions and merit increases.
Showing support and care for a 10,000-strong organization

CCBPI has also set aside almost Php2 billion for its employee assistance fund, ensuring that
associates were paid during quarantine. Moreover, those part of the on-site and in-the-field
skeletal workforce were even provided with additional allowances. Other monetary and non-
monetary employee support has also been provided, such as the deferment of loan payments
to cooperatives and the advanced partial pay-out of 13th month pay, along with full HMO
coverage in the event any associates or dependents contracted COVID-19.

McGeown adds, “As the leader of an organization of 10,000 people, it is my responsibility to

make sure that all our associates know what we are doing—regarding the health of the
business, safety initiatives, and people initiatives—so they do not need to worry about their
jobs. They can be assured that they can continue providing for their families.”

Transitioning to the next normal

As the country transitions into the so-called next normal, the Company is also set to enact a
gradual phasing of employees returning to workplaces and sites—involving reconfigured
workspaces that are compliant with health and safety protocols.

“We’ve been reimagining and reframing what the future will look like as we continue to do
our best to protect jobs and retool and upskill people to operate in different ways,” McGeown
says. “Our plan is to ease into the ‘new normal,’ and to learn and recalibrate as we go along.
We are not in a rush to do it; we want to do it right.”

As the Philippines continues to battle the pandemic, Coca-Cola remains firm in its commitment
to continue to invest, create local jobs, and be a good partner to the country. “Our
commitment to the Philippines remains stronger than ever,” McGeown says. “We’ve been in
the Philippines for over 100 years, rest assured that we aim to be here for at least another
100 more.”

About Coca-Cola in the Philippines

Coca-Cola has been refreshing Filipinos and making a difference in the Philippines for 108
years. The Philippines was Coca-Cola’s first market in Asia to begin local bottling operations.
Today, the Coca-Cola system in the Philippines has evolved into a total beverage company,
offering 19 brands in its beverage portfolio and employing over 10,000 Filipinos in over 19
manufacturing facilities and more than 60 distribution centers nationwide. As part of its long-
standing commitment to the country, Coca-Cola continues to #GOBEYONDGOOD as a
business by continuously supporting safe water access programs in over 200 communities,
empowering over 200,000 women entrepreneurs through training and peer mentoring, and
accelerating packaging collection and recycling under its global World Without Waste initiative.

Coca-Cola associates from Bacolod pose for a photo after their shifts as industry frontliners,
showing off their unfaltering energy at a time when good service is greatly needed.

Coca-Cola works to ensure that all of its 10,000 associates across the country remain in high
spirits despite challenges brought about by the pandemic—through total well-being initiatives
under the Life at Coke program, economic and organizational incentives, and safe workplaces.
Social Impact
People matter.

We act in ways to improve people's lives, from our employees to those who touch our business
to many communities we call home.

Water is a priority for The Coca-Cola Company because it is essential to life, our
beverages and the communities we serve.

Water is also critical to public health, food security, biodiversity and the climate crisis. The
world is experiencing increased water scarcity, with demands for safe, usable water exceeding
supply in certain areas.

We have operations nearly everywhere in the world - in more than 200 countries and
territories. That means we have a responsibility to accelerate our efforts to help address water
stress, protect local water resources and help build community climate resilience -
communities' ability to adapt to these changing conditions.

Coca-Cola Shares Key Goals Detailing 2030 Water Security Strategy

03-23-2023

The Coca-Cola Company today announced three goals accelerating its action on water during
the UN 2023 Water Conference.

Chairman and CEO James Quincey participated in events during the week to share how the
company is prioritizing water investments where they are needed most. The company’s
holistic 2030 water strategy aims to achieve water security in the company’s operations,
local watersheds and communities—where it operates, sources agricultural ingredients for
beverages and touches people’s lives.

“We recognize that water is essential to our business and to the communities where we
operate, and are committed to being responsible stewards of this vital resource,” Quincey
said. “We want to do this by improving water availability, quality, access and governance –
and taking a more granular watershed-based approach. In short, we’re focusing on doing
what matters most, where it matters most.”

The company announced three goals related to the strategy’s key focus areas:

- Achieve 100% circular water use – or regenerative water use – across 175 facilities identified
as “leadership locations” by 2030.

- Work with partners to help improve the health of 60 watersheds identified as most critical
for the company's operations and agricultural supply chains by 2030.

- Aim to return a cumulative total of 2 trillion liters of water to nature and communities
globally, between 2021-2030.

During the conference, Bea Perez, SVP and Chief Communications, Sustainability & Strategic
Partnerships Officer, announced that the company is joining the Business Leaders’ Open Call
to Accelerate Action on Water – an initiative of the UN Global Compact, the CEO Water
Mandate and others. Furthering collective action, the company is joined in this effort by three
of its bottling partners – Coca-Cola FEMSA, ARCA Continental and Coca-Cola Europacific
Partners.

This initiative means the company will partner to build water resilience across operations and
supply chains, and will work with partners to achieve collective positive water impact in at
least 100 vulnerable water basins by 2030.

Additionally, The Coca-Cola Foundation recently awarded a $1.25 million grant to global
nonprofit Imagine H20 to scale entrepreneurial solutions for water-stressed and climate-
impacted communities.

How Coca-Cola Approaches Water Stewardship

Water is a priority for The Coca-Cola Company because it is vital to its business and critical
to public health, food security, biodiversity and the climate crisis. The company has operations
nearly everywhere in the world – in more than 200 countries and territories – which comes
with a responsibility to address water stress, protect local water resources and help build
community climate resilience. That’s why the company’s 2030 water strategy is focused on
accelerating the actions needed to increase water security where the company operates,
sources ingredients and touch people’s lives.

The company is focused on good water stewardship, starting within its own four walls, and
extending outside. It invests in initiatives to reduce the amount of water used in making
beverages, and to treat and reuse water where possible. The company also works to preserve
nature, biodiversity and promote advanced water management practices.

Outside its own operations, one key aspect of the strategy is replenishing the water used in
its products. This means for the amount of water used in finished beverages, that same
amount is returned back to nature and communities.

Here are some key actions the company is taking to achieve its goals:

- Working to achieve regenerative water use – reducing, reusing, recycling and replenishing
the water used to produce its beverages.

- Improving community access to drinking water, sanitation and hygiene while supporting
people – especially women and girls – to prepare and rapidly recover from water-related
crises.

- In priority watersheds, establishing and implementing watershed stewardship plans to

improve shared challenges (quantity, quality, ecosystems, infrastructure, governance).

- Sourcing “water-sustainable” ingredients and supporting nature-based solutions.

- Working with suppliers so they use less water to grow ingredients.

- Partnering with governments, NGOs, communities and other companies to share resources
and take collective action that creates scale and advances innovation and science.

- Advocating for good water governance and smart water policies while engaging all
stakeholders on responsible water use – including customers and consumers.

The company will continue to work with partners including the World Bank’s Water Resources
Group, CEO Water Mandate, Global Water Challenge, The Nature Conservancy, World Wildlife
Fund, and many others in pursuit of these goals.
“As we seek to achieve large-scale impact globally, collective action is critical. We cannot do
this alone, and to achieve long-term change, we must work together,” said Madhu Rajesh,
Coca-Cola’s global lead for water & sustainable agriculture. “We partner with governments,
NGOs, communities and other companies to share resources, to increase all our efforts and
to generate a bigger impact. We encourage others to join us in these efforts.”

Coca-Cola Collaborates with Tech Partners to Create Bottle Prototype Made from
100% Plant-Based Sources

10-22-2021

Updated on 10-24-2023

The Coca-Cola Company’s sustainable packaging journey crosses a major milestone this week
with the unveiling of its first-ever beverage bottle made from 100% plant-based plastic,
excluding the cap and label, that has been made using technologies that are ready for
commercial scale. The prototype bottle comes more than a decade after the company’s
PlantBottle™ debuted as the world’s first recyclable PET plastic bottle made with up to 30%
plant-based material. A limited run of approximately 900 of the prototype bottles have been
produced.

“We have been working with technology partners for many years to develop the right
technologies to create a bottle with 100% plant-based content—aiming for the lowest possible
carbon footprint—and it’s exciting that we have reached a point where these technologies
exist and can be scaled by participants in the value chain,” said Nancy Quan, Chief Technical
and Innovation Officer, The Coca-Cola Company.

PET, the world’s most recycled plastic, comprises two molecules: approximately 30%
monoethylene glycol (MEG) and 70% terephthalic acid (PTA). The original PlantBottle™,
introduced in 2009, includes MEG from sugarcane, but the PTA has been from oil-based
sources until now. PlantBottle™ packaging looks, functions and recycles like traditional PET
but has a lighter footprint on the planet and its resources.

Coca-Cola's new prototype plant-based bottle is made from plant-based paraxylene (bPX) -
using a new process by Virent - which has been converted to plant-based terephthalic acid
(bPTA). As the first beverage packaging material resulting from bPX produced at
demonstration scale, this new technology signals a step-change in the commercial viability of
the biomaterial. The bPX for this bottle was produced using sugar from corn, though the
process lends itself to flexibility in feedstock.

Coca-Cola Launches ‘Real Magic’ Brand Platform, Including Refreshed Visual

Identity and Global Campaign

09-29-2021

Coca-Cola is inviting the world to celebrate the real magic of humanity in its first new global
brand platform for the Coke Trademark in five years.

The “Real Magic” brand philosophy is rooted in the insight that magic lives in unexpected
moments of connection that elevate the everyday into the extraordinary—a timeless learning
that feels more relevant than ever in today’s hyperconnected yet divided world. Real magic
happens when people get together and when what we share in common is greater than what
sets us apart.
Iteration, for Good: How Project Last Mile is Supporting COVID-19 Vaccine
Distribution in Africa and Beyond

09-20-2021

Over the last decade, Project Last Mile has leveraged the Coca-Cola system’s supply chain,
logistics and marketing capabilities to expand access to HIV and malaria medicines across
Africa. Now, the coalition of public-private partners—which includes The Coca-Cola Company,
The Coca-Cola Foundation, PEPFAR, USAID, The Global Fund for HIV/AIDS, Malaria and
Tuberculosis, and The Bill and Melinda Gates Foundation—is working behind the scenes to
help speed distribution and uptake of COVID-19 vaccines across the continent.

Only 2% of total vaccination doses administered globally have been in Africa, according to
the World Health Organization (WHO). Most countries received their first vaccine shipments
only weeks in late-February or early March, and in small quantities. To date, 1% of the
continent’s population has been vaccinated.

To help bridge this gap, The Coca-Cola Foundation recently awarded a $2 million grant to
Project Last Mile—$1 million for South Africa and $1 million for additional countries across the
continent—as part of the foundation’s $20 million “Stop the Spread” fund. An additional
$500,000 grant from The Coca-Cola Foundation will support COVAX, a program co-led by the
World Health Organization (WHO) to ensure equitable global access to COVID-19 vaccines
tests and treatments in the world’s poorest countries.

Project Last Mile and USAID work with South Africa’s National Department of Health (NDH)
to design and operationalize a dispensing and distribution model for HIV antiretroviral (ARV)
treatments. More than 3 million people get their ARVs from 3,000 pickup points across the
country.

When the Beta variant of the coronavirus triggered a surge in infections in late-2020, the
Coca-Cola system in South Africa engaged Project Last Mile to identify ways the Coca-Cola
system could help government leverage private sector support to facilitate a mass vaccine
rollout. Now, the Delta variant is sweeping across the continent.

“Emergency response in a pandemic requires trusted partners you can turn to

quickly for help,” said Adrian Ristow, project director, Project Last Mile. “We’ve built
a deep understanding of how medical commodities move around South Africa, and
our experience enables us to be faciltators between public sector needs and private
sector assistance. Our vision is to identify and facilitate practical ways the Coca-Cola
system can help accelerate vaccine distribution in Africa.”

While Coca-Cola will not actually deliver the vaccines, teams will help connect government
agencies with private sector and NGO partners and offer data and strategic, logistical and
technical support on everything from transportation and warehousing, to supply chain and
marketing. For example, Project Last Mile has shared GPS coordinates for retail pharmacies,
private clinics and other potential vaccination locations and an audit of the Coke system’s dry
ice capacity in 70 COVAX countries—including South Arican and Eswathini—for potential ultra-
cold chain vaccine distribution.

The crux of the current challenge remains availability. “We’re seeing tremendous willingness
from the private sector across the continent, but there simply have not been enough vaccines
at this stage to require a mass private sector intervention,” Ristow adds. “As soon as supply
arrives, the government should be able to help get shots in arms quickly because the collective
public and private sector teams have had time to prepare and plan. We see South African and
Eswatini as test cases and, our learnings in these countries will help us continue to refine the
Project Last Mile approach across the continent.”

Project Last Mile and Coca-Cola teams also are working to help develop and distribute COVID-
19 awareness communications promoting preventative protocals like hand washing and social
distancing, with a focus on HIV-positive communities who are especially vulnerable to life-
threatening infections. Non-pharmaceutical interventions like these are vital to avoid surges
especially as vaccine administration is slow.

Lift and Shift

Project Last Mile’s COVID-19 impact has extended beyond Africa. At the onset of the
pandemic, Coca-Cola teams across Latin America connected with colleagues in Africa to
explore how they could tailor the Project Last Mile framework and learnings based on country-
specific vaccine distribution needs, as well as local capabilities and resources.

In Colombia, Coca-Cola supported a government-led social media strategy to encourage

citizens to get vaccinated and combat misinformation through educational videos, jingles,
point-of-sale posters and influencer amplification. The President of Colombia publicly launched
the campaign in March.

Additional support in Latin America includes helping to fund shipment and delivery of the first
cargo of vaccines arriving in Peru and donating 100 tablets to government-operated
vaccination locations in the Dominican Republic. Coca-Cola also is partnering with the Red
Cross to develop and support a $1 million regional vaccine awareness campaign supported by
the “Stop the Spread” fund.

“The COVID-19 pandemic has hit Latin America harder than other parts of the
world,” said Ángela Zuluaga, SVP, Public Affairs, Communications and
Sustainability, Coca-Cola Latin America. “While Latin America represents only 8.2%
of the world’s population, it represents a bigger proportion of COVID-19 cases and
related deaths. As governments throughout the region mobilize to broadly promote,
distribute and administer vaccines to people in local communities, we saw a clear
opportunity to live out our purpose and use our global scale for leadership and for
good.”

Ristow said Project Last Mile continues to consult with Coca-Cola teams around the world,
including in hard-hit markets like India.

“As more Coca-Cola teams around the world come to understand our work, we are getting
requests for insight on how to leverage our NGO and private sector partners to support COVID
efforts,” he concluded. “We’re helping them think through how to create a model that makes
it easier to partner with government at such a critical time by leveraging both the capabilities,
resources and networks of the Coca-Cola system.”
Sustainability
As a total beverage company, we are driven by our purpose to refresh the world and make a
difference. We grow our business in ways that drive positive change and aim to build a more
sustainable future for our planet.

About This Update SCOPE OF THE UPDATE Except as otherwise noted, this update covers
certain environmental data of The Coca-Cola Company and the Coca-Cola system (our
company and our owned and independent bottling partners), as applicable, for 2023.
References to “currently,” “to date” or similar expressions reflect data and information as of
December 31, 2023. In this update, any use of the terms “material,” “materiality,”
“immaterial,” “substantive,” “significant” and other similar terminology refers to topics that
reflect important economic or environmental impacts of The Coca-Cola Company or the Coca-
Cola system or to topics or standards designated as “material” or “substantive” under the
GHG Protocol. As the company becomes subject to new regulations such as the European
Union Corporate Sustainability Reporting Directive or the International Sustainability
Standards Board rules in the future, use of these terms and their applicability to our
operations may differ from their use in this update.

These terms as used in this document are not used, or intended to be construed, as they have
been defined by or construed in accordance with the securities laws or any other laws of the
United States or any other jurisdiction, or as these terms are used in the context of financial
statements and financial reporting. This update is provided to transparently share data on
certain sustainability measures. It should not be relied upon in making investment decisions.
The data presented in this document is collected using accepted and relevant scientific and
industry accepted methodologies, which in some instances, are based on assumptions and
estimates. Although our data has been internally reviewed, there are inherent uncertainties
and limitations in the collection and presentation of our data. For example, certain information
in this update regarding The Coca-Cola Company and the Coca-Cola system’s progress against
our sustainability goals comes from third-party sources and operations outside of our control.
While we believe such information is reasonably accurate and is based on generally accepted
principles and methodology, the collection of this data is beyond our direct influence. Our
processes and controls may not always comply with evolving standards and regulations for
identifying, measuring and reporting sustainability metrics; our interpretation of reporting
standards and regulations may differ from those of others; and such standards and
regulations may change over time, any of which could result in significant revisions to our
goals or reported progress in achieving such goals.

The achievement of certain of our sustainability goals that are discussed in this document are
dependent on the actions of our bottling partners, suppliers and other third parties, some of
which are outside of our control. Historical performance data may be revised due to reasons
such as new data availability; industry driven changes to methodologies; improvement in data
collection and measuring systems; or activities such as joint ventures, mergers and
acquisitions or divestitures. In cases where historical information is revised substantially, we
will footnote the change with a clear explanation. Statements about future developments and
past occurrences are based on information and assumptions available as of the date of
publication. While we are committed to providing timely updates, the company holds no
obligation to update any such information or statements. Review level of assurance under
attestation standards of the American Institute of Certified Public Accountants over select
sustainability metrics was obtained from Ernst & Young LLP (as indicated in the Independent
Accountants’ Review Report and the 2023 Selected Greenhouse Gas Emissions (GHG)
Independent Accountants’ Review Report. FORWARD-LOOKING STATEMENTS This update
may contain statements, estimates or projections that constitute “forward-looking
statements” as defined under U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify
forward-looking statements, which generally are not historical in nature.

Statements about our sustainability goals, aspirations and anticipated progress also constitute
“forward-looking statements.” Forward-looking statements are subject to certain risks and
uncertainties that could cause The Coca-Cola Company’s actual results to differ materially
from its historical experience and our present expectations or projections. These risks include,
but are not limited to, evolving sustainability regulatory requirements and expectations,
including evolving processes, controls and methodologies for identifying, measuring, assuring
and reporting sustainability metrics and data, which could result in significant revisions to our
previously reported data; increasing concerns about the environmental impact of plastic
bottles and other packaging materials; water scarcity and poor quality; increased demand for
food products, decreased agricultural productivity and increased regulation of ingredient
sourcing due diligence; climate change and legal or regulatory responses thereto; adverse
weather conditions; unfavorable economic and geopolitical conditions; disruption of our
supply chain, including increased commodity, raw material, packaging, energy, transportation
and other input costs; an inability to successfully integrate and manage our acquired
businesses, brands or bottling operations or an inability to realize a significant portion of the
anticipated benefits of our joint ventures or strategic relationships; and other risks discussed
in our filings with the Securities and Exchange Commission (the SEC), including our Annual
Report on Form 10-K for the year ended December 31, 2023, and our subsequently filed
Quarterly Reports on Form 10-Q, which filings are available through the SEC’s website. You
should not place undue reliance on forward-looking statements, which speak only as of the
date they are made. We undertake no obligation to publicly update or revise any forward-
looking statements.

Done Sustainably Water SECTION BOUNDARIES: In this section, our water leadership work
refers to actions by the company, The Coca-Cola Foundation, the company’s owned and
independent bottling partners and independent suppliers and partners.1 Much more than an
essential ingredient in our beverages, water is vital for people to live and for our planet and
ecosystems to thrive. As water scarcity increases due to climate change, we are taking steps
to help improve water security where we operate, source ingredients and touch people’s lives.

Goals and Progress

Our goals are designed to help improve water security. We segmented and prioritized our
operating facilities, commercial regions, sourcing regions, watersheds and communities based
on areas facing the highest water-related risks.

GOAL: Continue to replenish 100% of the water we use in finished beverages to nature and
communities.

PROGRESS: Returned 148% of the water used in our finished beverages to nature and
communities in 2023.

GOAL: Return a cumulative total of 2 trillion liters of water to nature and communities globally
between 2021 and 2030.
PROGRESS: Returned a cumulative total of 861 billion liters of water to nature and
communities between 2021 and 2023.

GOAL: Achieve 100% regenerative water use across 175 of our Leadership Locations, which
are facilities that face the highest level of water related risks, by 2030.

PROGRESS: Developed a robust plan for all our Leadership Locations in 2023.

GOAL: Reduce our water use ratio by 20% by 2030 from a 2015 baseline for all operations
across the system.

PROGRESS: Reduced our water use ratio by 10% since 2015. In 2023, the water use ratio
decreased to 1.78 liters of water used per liter of beverage.

GOAL: Work with partners to help improve the health of 60 watersheds identified as most
critical for our operations and agricultural supply chain by 2030.

PROGRESS: Continued to develop plans for watershed health and stewardship of our priority
watersheds in 2023. 2023 CDP Water Security Score: AWhile we’re making progress, we
acknowledge that additional investment, bottling partner engagement and stakeholder
outreach are required to ensure that we reach our 2030 goals.

Packaging
SECTION BOUNDARIES:

In this section, our packaging strategy refers to actions by the company as well as our owned
and independent bottling partners and independent suppliers and partners. We care about
the impact of every drink we sell. Our ambitious World Without Waste strategy aims to help
create a circular economy for our packaging—from how bottles and cans are designed and
manufactured to how they’re recycled and reused.

Goals and Progress

Our global World Without Waste strategy focuses on measurable and interconnected actions
under three pillars: DESIGN, COLLECT and PARTNER. Together with industry partners and our
bottlers, we continue to invest to drive progress towards our packaging goals.

Design
GOAL: Make 100% of our packaging recyclable globally1 by 2025.

PROGRESS: 90% of our packaging was recyclable in 2023.

GOAL: Use at least 50% recycled content in our packaging by 2030.

PROGRESS: Used 27% recycled materials in our primary packaging globally. 17% of PET
used was recycled PET (rPET).

GOAL: Reduce our use of virgin plastic derived from non-renewable sources by a cumulative
3 million metric tons from 2020 to 2025.
PROGRESS: We did not reduce the use of virgin plastic in the period from 2020 to 2023 due
to business growth. That said, in 2023, we reduced the absolute use of virgin plastic by more
than 75,000 metric tons compared to 2022. Between 2020 and 2023, as we continued to
invest in light weighting and use of rPET, we eliminated the additional use of 1.9 million metric
tons2 of virgin plastic.

Collect
GOAL: Collect and recycle a bottle or can for each one we sell by 2030.

PROGRESS: 62% of our packaging was collected for recycling in 2023.

GOAL: Have at least 25% of our beverages worldwide by volume sold in refillable/returnable
glass or plastic bottles or in fountain dispensers with reusable packaging by 2030.

PROGRESS: Served 14% of total beverage volume in reusable packaging in 2023. Sales of
finished products served in reusable packaging increased by more than 100-million-unit cases
compared to 2022.

Partner
Bring people together to support a healthy, debris-free environment. We do not have a metric
tied to this action pillar. We are currently on track to meet our 2025 goal to make 100% of
our packaging recyclable globally.

We are currently behind plan to meet both our 2030 recycled content and collection goals.
Package design and the use of recycled materials are areas that are ultimately in our control,
but costs, quality and new innovations are dynamic factors that affect our ability and timelines
for implementation. The key challenge for us is collection for recycling of beverage packaging,
which is the key step to ensure a functioning circular economy. We continue to explore new
collection models or improve existing ones, investing in community infrastructure and
engaging policymakers.

Climate
SECTION BOUNDARIES:

In this section, our greenhouse gas emissions reduction refers to actions by the company,
owned and independent bottling partners and our direct independent suppliers and partners.

Our business relies on a healthy natural environment and a resilient value chain to source,
produce and distribute products. Climate change continues to pose a risk to our business and
our stakeholders. That’s why our approach considers the links between our sustainability goals
to reduce emissions across our value chain—from sourcing of ingredients to packaging to
water use.

Goal
Reduce absolute emissions by 25% by 2030 against a 2015 baseline.
Progress
8% decline in absolute emissions against a 2015 baseline. Systemwide renewable electricity
usage increased from 21% in 2022 to 24% in 2023. 2023 CDP Climate Change Score: AWhile
we’ve made progress in 2023, we recognize we have more work to do as the Coca-Cola
system to reduce carbon emissions. We will continue to invest in solutions and partner across
our value chain to help us achieve our climate goal.

Agriculture
SECTION BOUNDARIES:

In this section, our sustainable agriculture work refers to actions by the company, The Coca-
Cola Foundation, the company’s owned and independent bottling partners, and our
independent suppliers and NGO partners.

Our products and some of our packaging rely on various agricultural ingredients grown
globally. We aim to sustainably source our priority ingredients over time by encouraging our
ingredient suppliers to drive continuous improvement in sustainable farming practices.

Goal

Source 100% of priority agricultural ingredients according to our Principles for Sustainable
Agriculture over time.

Progress

64% of our 12 global priority ingredients sustainably sourced to Leader standard in line with
our Principles for Sustainable Agriculture.
What is in our products is essential.

We are evolving our business strategy to become a total beverage company by giving people
more of the drinks they want. This strategy includes changing recipes to reduce added sugar,
promoting low and no-calorie beverage options and making smaller packages more available
to enable portion control.

The Coca-Cola Company supports the current recommendations of several leading health
authorities that individuals should not consume more than 10% of their total calories from
added sugar. We are taking action on reducing added sugar even where it means changes to
our most popular, time-tested products—putting our strength in innovation to meet our
consumers’ evolving needs.

What is in our products is essential. We use the highest quality and cutting-edge ingredients,
provide reduced and no sugar alternatives, and source sustainably and ethically.