With a ‘plant’ of 137.7 million dollars, the multinational Coca Cola and eight of its partner bottling companies in the world, which represent about half of the volume of the Coca-Cola system worldwide, are making a new commitment for sustainability by creating a new venture capital fund, which will be managed by Greycroft, and whose objective is to invest in entrepreneurship and consumption solutions throughout life cycles and industries.
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Since the carbon footprint of the Coca-Cola System is among the fund’s priorities, it will initially focus on five key areas: packaging, heating and refrigeration; decarbonization of facilities, distribution and supply chain.
According to the multinational’s directives, the 137.7 million dollars with which said fund was created, They come mainly from investments of 15 million contributed by companies such as Coca-Cola, Arca Continental, Coca-Cola Bottling Co. United, Coca-Cola Consolidated, Coca-Cola Europacific Partners, Coca-Cola FemsaCoca-Cola HBC, Reyes Coca-Cola Bottling and Swire Coca-Cola.
“This fund offers the opportunity to pioneer innovative solutions and help rapidly scale them within the Coca-Cola System and across the industry.said John Murphy, the company’s president and chief financial officer, adding: “We look forward to benefiting from gaining access to emerging technology and science for sustainability and carbon reduction.”
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investments
The fund will seek to invest in companies in the commercialization phase, Partnering with the Coca-Cola System represents an attractive opportunity for Greycroft to help scale innovative solutions with some of the world’s leading bottling operations.
“The market for sustainable supply chain and manufacturing technology has continued to grow as consumer brands rise to meet the demands of customers who are increasingly aware of their impact on the environment,” said Dana Settle, Co-Founder and Managing Partner of Greycroft.
I add that the manager has an ‘invest anywhere’ approach, allowing them to identify promising start-ups with ready-to-scale climate technology solutions.
Several bottlers of the Coca-Cola system in the world have issued green bonds, including Arca Continental and Coca-Cola Femsa.
Archive El Tiempo / Reuters
The system has a long history of investment in projects focused on sustainability that continue to make a difference, for example, in Latin America the multinational beverage company and Arca Continental have invested in PetStar, a leading company in the processing of recycled PET; Coca-Cola FEMSA in Imer and a high-tech PET recycling plant, Planeta.
Another example of investments is in the Philippines, where Coca-Cola Beverages Philippines and Indorama Ventures invested in PETValue, the largest PET recycling plant in the country.
In Indonesia, Coca-Cola Europacific Partners (CCEP) and Dynapack invested in Amandina’s PET recycled content production facility, and in Australia, as part of a cross-sector partnership with Cleanaway, Asahi Beverages and Pact Group, CCEP has invested in PET plastic production and recycling facilities.
In addition to the above, several bottling companies in the system have issued green bonds, including Arca Continental, Coca-Cola Femsa and Coca-Cola Hellenic, while Swire Coca-Cola has invested in establishing the first food grade plastic recycling plant in Hong Kong.
