The Coca-Cola Company sustainability score: 27/100

Scope 1 emissions 474,413 tCO₂e and Scope 2 market-based 812,050 tCO₂e for FY2024 with EY limited assurance. 2024 boundary expanded to include fugitive emissions and corporate aircraft. Exclusions of franchise fleets, standalone warehouses, and acquired businesses (BODYARMOR, Costa, fairlife, innocent) limit full coverage.

Total Scope 3 approximately 11.1 million tCO₂e in 2024, with franchises accounting for ~8.3 million tCO₂e. Only 7 of 15 Scope 3 categories quantified. Cold drink equipment cooling/dispensing estimated at 30–35% of system emissions but methodology relies on extrapolation. Third-party assurance covers only select metrics.

System manufacturing emissions declined only 8% versus 2015 baseline, far short of 25% by 2030 target. Scope 3 franchise and value chain emissions rising as business volumes grew ~10% since 2015. Baseline shifted from 2015 to 2019 without disclosing revised reduction percentage. MSCI analysis aligned TCCC trajectory with 2.3°C, not 1.5°C.

28% system-wide renewable electricity in 2024 (up from 24% in 2023). At TCCC corporate level likely higher but not separately verified. 28% remains far below 50% and inconsistent with 1.5°C alignment. No explicit renewable electricity target comparable to RE100 disclosed.

December 2024: TCCC discontinued formal agricultural sustainability goals, replacing with unspecified 'continue initiatives'. WWF conducted risk assessment of 13 commodities with some third-party verification (Bonsucro, Rainforest Alliance, FSC). No TNFD disclosure. As world's largest plastic packaging user (3.61 million tonnes in 2024, up 21% since 2019), TCCC's nature impact through plastic pollution is documented and severe.

Plastic packaging increased to 3.61 million tonnes in 2024, up 4.6% from 2023 and 21% since 2019. December 2024 downgrades: recycled content target cut from 50% by 2030 to 35–40% by 2035, collection target cut from 100% to 70–75%, reusable packaging goal of 25% by 2030 eliminated entirely. TCCC named #1 plastic polluter for six consecutive years.

Global water replenishment rate 157% in 2024 with external assurance. Since 2015, returned more than 100% of water used in finished products on aggregate basis. 309 billion litres system withdrawals (2022). Water efficiency 1.97 litres per litre product. 200+ high-risk locations identified via WRI Aqueduct 4.0; 96% of facilities evaluated. 2035 goal: 100% replenishment at each high-risk location.

Original SBTi target (2°C-aligned, not 1.5°C) called for 25% absolute emissions reduction by 2030 from 2015 baseline; TCCC achieved only 8% by 2023. December 2024 'updated' target shifted baseline to 2019 without disclosing required percentage reduction. Packaging targets weakened: recycled content 50%→35–40%, collection 100%→70–75%, reusable 25% goal eliminated. Agricultural sustainability goals dropped.

Annual Environmental Update with EY limited (not reasonable) assurance on select GHG and water metrics. Board oversight via ESG and Public Policy Committee; executive compensation linked to recycled PET and water replenishment targets. CDP Climate and Forests responses; TCFD disclosure. Limited assurance scope, exclusion of major subsidiaries, and baseline shift ambiguity reduce transparency.

DC Court of Appeals reinstated greenwashing lawsuit (Earth Island Institute v. Coca-Cola) in August 2024 on deceptive environmental claims; case proceeds on merits. LA County filed suit October 2024 over misleading recyclability claims. Break Free From Plastic Global Brand Audit: #1 plastic polluter six consecutive years (2023: 33,820 items in 40 countries, highest ever). Science Advances peer-reviewed study confirms TCCC as top branded plastic polluter. InfluenceMap 2024 notes positive climate policy leadership, but trade association membership misaligned.