THE COCA-COLA COMPANY | Disclose assessment on current plans and activities alignment with 2030 refillable/returnable goal at THE COCA-COLA COMPANY

Status
Omitted
AGM date
Previous AGM date
Resolution details
Company ticker
KO
Lead filer
Green Century Capital Management, Inc.
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • Waste and pollution
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Staples
Company HQ country
United States
Resolved clause
Shareholders request that Coke, at reasonable expense and omitting proprietary
information, publicly disclose an assessment of whether its current plans and activities are
sufficient and on track to achieve its 2030 refillable/returnable goal or whether additional plans and
commitments are necessary.
Whereas clause
Plastic pollution is a global systemic risk. Social and environmental costs of plastic
pollution are estimated at $300-600 billion per year.1 Only 9% of plastic waste globally is recycled2
and 95% of plastic packaging is disposed of after one use.
3 The limits of plastic recycling coupled
with estimates that plastic production will double by 20404
indicate that to sufficiently mitigate
plastic-related risks, reducing single-use plastics is key.
The Coca-Cola Company (Coke)’s plastic footprint makes it the largest contributor to global plastic
pollution; its packaging accounted for 11% of all plastic pollution collected in a 5-year study.
5
In
part to address related risks, in 2022, Coke set a goal for 25% of its beverages to be sold in refillable
or returnable containers by 2030.
6 However, reusables sales have remained at or under 16% for the
last three years7 and Coke does not disclose information to shareholders about how it plans to
meet its goal.
Insufficient action to address plastic-related risks exposes Coke to material financial risk:
• Regulatory risk: Regulatory developments such as extended producer responsibility laws
could cost companies up to $100 billion annually should governments require them to
cover the waste management costs of their packaging.8

• Legal risk: Los Angeles County filed a lawsuit against Coke in October 2024 for polluting the
county and making misleading claims that its bottles are 100% recyclable.
9 Additionally, the
DC Court of Appeals ruled in 2024 that a lawsuit brought against Coke for exaggerating the
recyclability of its packaging could proceed.
Reputational risk: Studies show that sustainability and trust are major drivers in
consumers’ purchasing decisions.11 Coke’s failure to reduce its plastic footprint has led to
sustained scrutiny from multiple media outlets, heightening reputational risk.
12, 13, 14
• Market access loss: Demand for reusable bottles is high from customers in low-cost
markets and from customers that prioritize sustainable products.
15 Studies show that
companies are failing to capitalize on demand for reusable packaging.
16
Supporting statement
The essential purpose of this proposal is for the Company to produce
quantitative, forward-looking disclosures demonstrating whether the Company's policies and
actions are sufficient to achieve its refillable/returnable goal. In developing the plan, proponents
recommend, at management discretion:
• Providing forward-looking, near-term, and quantitative strategies, metrics, and milestones
for achieving the Company's refillable/returnable goal;
• Providing information about how Coke is working with its business partners, including
bottlers, to achieve its refillable/returnable goal.

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