GREEN BOND
Aligned with this approach and our sustainability strategy, we set a milestone with the issuance of our first-ever green bond in September 2020, valued at US$705 million—at the time the largest for a Latin American corporation and a first for the Coca-Cola System.
As of December 31, 2023, we had allocated 100% of the net proceeds to eligible projects according to our Green Bond Framework. The net proceeds drove progress toward our sustainability goals, including increased recycled content in PET packaging, improved water efficiency, and reduced CO2e emissions.
- Green bond framework
- Green bond second party opinion
- Green bond report 2020
- Independent verification 2020 - Performance metrics
- Independent verification 2020 - Proceeds allocation
- Green bond report 2021
- Independent verification 2021 - Performance metrics
- Independent verification 2021 - Proceeds allocation
- Independent verification 2021 - Performance metrics
- Green bond report 2022
- Independent verification 2022 - Performance metrics
- Independent verification 2022 - Proceeds allocation
- Green bond report 2023
- Independent verification 2023 - Performance metrics
- Independent verification 2023 - Proceeds allocation
SUSTAINABILITY-LINKED BONDS
Building on our sustainability strategy, in September 2021, we issued the first-ever sustainability-linked bonds in the Mexican market for a total of Ps. 9,400 million in accordance with our Sustainablity-Linked Bonds Framework.
Recognizing that water is not only an invaluable resource for our company and industry, but also an indispensable element of climate change resilience, we are focusing these bonds on the achievement of a water use ratio of 1.26 by 2026, in accordance with our Sustainability-Linked Bonds Framework. At the end of 2023, our water use ratio was 1.42 liters, a benchmark of water efficiency for the Coca-Cola System.
SOCIAL & SUSTAINABILITY BONDS
Breaking new ground, we issued social and sustainability bonds in the Mexican market for a total of Ps. 6,000 million in October 2022—becoming the first non-financial corporation in the Americas and the first company in the Coca-Cola System to issue social bonds. We also became the first company in Mexico’s consumer sector to issue sustainability bonds.
These bonds will be used to finance eligible projects in accordance with our Sustainability Bonds Framework. Empowering social and economic development, these bonds support underrepresented groups, offer entrepreneurial and self-employment skills, provide financial solutions that support store owners, and invest in sustainable community development, including water replenishment and water access projects. In 2023, 100% of the Ps. 500 million sustainability bond proceeds was allocated, and Ps. 224.68 million of the social bond proceeds was allocated: 75% for microcredits, 5% for human resources, and 20% for social license.