Coca-Cola HBC has issued its first green bond and raised €500 million in support of its sustainability projects.
The green bond, which was driven by strong investor demand, is a fixed-income instrument designed to support specific climate-related and environmental projects.
The net proceeds of the bond will be allocated to projects that meet the eligibility criteria outlined in the group’s Green Finance Framework, which includes four components – use of proceeds, project evaluation and selection, management of proceeds, and reporting.
The projects will support 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.
“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,” said chief financial officer of Coca-Cola HBC, Ben Almanzar. “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.”
© FoodBev Media Ltd 2022
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