Coca-Cola and eight bottling partners have established a $137.7 million venture capital fund dedicated to sustainability investments. Each entity, including Coca-Cola, contributed approximately $15 million to the fund. With a focus on carbon footprint reduction, the fund will initially concentrate on five key areas: packaging, heating and cooling, facility decarboniSation, distribution, and the supply chain. The Greycroft Coca-Cola System Sustainability Fund will be managed by venture capital firm Greycroft and will invest in companies during the commercialisation stage. Coca-Cola has faced criticism for falling behind on its renewable packaging goals, but the company aims to have at least 25% of its beverages sold in reusable containers by 2030. The fund aims to pioneer innovative solutions and scale them within the Coca-Cola system and the industry at large.
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