Celebrating 70 years in Spain, Coca-Cola, thanks to its activity and commitment to the communities in which it operates, creates a positive socioeconomic impact and promotes social and economic development nationally and locally. This is proved by the results of Socio Economic Impact Assessment In 2022 Coca-Cola’s operations in Spain were prepared by consulting firm Steward Reedqueen.
According to this study, it provides data on the impact created across the entire value chain, Coca-Cola’s total contribution to the Spanish economy in 2022 is 6,257 million euros, which is 0.5% of GDP..
Likewise, the data shows how Spaniards choose Coca-Cola drinks as some of their favorite options. Along these lines, the study showed that consumers spent around 7,980 million euros on drinks.
Coca-Cola sells 2,920 million litres. or what is the same, For every euro that Spaniards spend on Coca-Cola drinks, 77 cents return to the national economy..
Analyzing by channel, Coca-Cola’s operations benefited the operations of various sectors, with the HORECA channel generating the highest added value of up to 1,854 million euros.
Employment and local contribution
The data provided by this study shows the extensive potential and important role of Coca-Cola in promoting employment and local economies. A position it reaches after years of work and dedication in the country, and celebrates 70 years since the first bottle made in Spain came to market.
In this role as a driving force, Coca-Cola’s operations generate direct and indirect employment for 99,500 people, with 3,800 direct jobs created. These statistics indicate, For every direct job created, 25 indirect jobs are created.
On the other hand, operating in Spain after 70 years, thanks to its industrial strength, spread throughout the national territory, as well as the excellent capillary of its distribution and sales team, with its operations, Coca-Cola contributes to the promotion of growth. Local economies. He does With more than 21,800 Spanish suppliers, this accounts for 96% of total spending In this range. All this allows it to reach more than 270,000 customers throughout Iberia, serving hospitality, restaurant and catering companies throughout Spain, contributing to the construction of the national territory.
Consulting firm Stewart Redquin is responsible for preparing the report, which has analyzed Coca-Cola’s financial and non-financial data for the year 2022. All these data show the multiplier effect of Coca-Cola in different sectors in Spain. Its socio-economic contribution to the regions in which it operates.
Beyond the Economy: Impact on Society and the Environment
Coca-Cola, in its strategic sustainability plan, ‘It’s Forward’, includes commitments and actions that place sustainability at the heart of its business strategy; This allows the company to launch specific initiatives in six areas: Beverages, Packaging, Community, Water, Climate and Supply Chain.
Beyond economics, as a result of Coca-Cola’s commitment to society, the company continues to act as an agent of social change. Communities in which it operates.
Among other actions, the following stand out: the GIRA Jóvenes and GIRA Mujeres programs, which have already benefited 7,000 and 20,000 participants respectively; Corporate volunteering by Coca-Cola employees who dedicated 8,223 hours in 2022; The Coca-Cola Foundation’s initiatives promote culture through its Young Talent Short Story Competition, which already has 62 editions, and with its Bureau Young Theater Awards, which now has 20 editions.
This strategic sustainability plan covers Coca-Cola’s commitments and actions on environmental matters in the short, medium and long term. In 2022, it continued its path towards the decarbonisation of its business in Spain and is close to achieving its climate objectives: in 2030 it will reduce its greenhouse gas (GHG) emissions by 30% compared to 2019, achieving climate neutrality. Its entire value chain in 2040.
According to the sustainability report of Coca-Cola in Spain, in 2022, the percentage reduction in GHG emissions will be 20.4% compared to 2019. In fact, its Barcelona factory in Spain and its four fountains have achieved verification that confirms them as carbon neutral.
Regarding water, Coca-Cola continues to promote efficient water management, while protecting hydrographic basins and ensuring the availability of water resources. 100% of its plants have water conservation programs and have reduced water consumption by 18.7% since 2010 to 1.76 liters of water for every liter of beverage produced. Likewise, there are 8 projects to return 4,716 million liters of water to nature by 2022, representing 161% of the water returned compared to the total liters produced.
Regarding its action on raw materials, Coca-Cola was able to reduce the virgin material used in its packaging in the Iberian Peninsula by 22,500 tons per year and its circular ocean initiative was able to collect 1,880 tons of waste from the ocean.
Likewise, Coca-Cola has gone a step further and through projects like HOSPITALITY #PorElClima, helps more than 7,000 HORECA companies already join in reducing the carbon footprint of their businesses.