Coca-Cola HBC Finance B.V. has issued its first green bond driven by “strong investor demand”, raising €500m in support of its sustainability projects.
The packaging company says that net proceeds of the green bond will be allocated toward projects that meet the eligibility criteria outlined in the Group’s Green Finance Framework.
Coca-Cola HBC says they will accelerate the progress of the company’s NetZeroby40 and Mission 2025 commitments, including circularity, energy efficiency, water stewardship, biodiversity and community programmes, innovation in sustainable packaging, and support of sustainable agriculture and procurement.
The issue of the green bond reinforces our position as Europe’s most sustainable beverage company.
The Group’s Mission 2025 Sustainability Commitments are to reduce water used per litre of beverages by 20% vs. 2017 in plants located in “water risk areas” and help secure water availability for all its communities in water risk areas.
Coca-Cola HBC is a “growth-focused” consumer packaged goods business and strategic bottling partner of The Coca-Cola Company.
Commenting on the bond issue, Chief Financial Officer of Coca-Cola HBC, Ben Almanzar, said: “This milestone demonstrates that sustainability is embedded in every aspect of our business, including our financing strategy.
“The issue of the green bond reinforces our position as Europe’s most sustainable beverage company. Most of all, it was made possible by the unmatched commitment of our teams to achieve net zero across our entire value chain by 2040.”