New wave of restructuring at Coca-Cola affects sustainability teams

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🗞️ Driving the news: Coca-Cola is undergoing a major restructuring process that has led to job cuts, particularly affecting its sustainability teams globally, including in Asia Pacific
• This restructuring, which began in January, impacts corporate functions but not the company's bottling partners
• Notably, the global vice president of sustainability and digital transformation is being reassigned to another role within the company

🌍 Why it matters for the planet: Coca-Cola has been under increasing scrutiny due to its role in plastic pollution, and this restructuring could influence its ongoing sustainability efforts
• With the company scaling back its 2030 sustainability goals earlier in 2024, the reduction in sustainability staff raises concerns about the pace and commitment to its environmental initiatives, including recycled content targets and bottle collection rates

⏭️ What’s next: As the restructuring unfolds, Coca-Cola's sustainability initiatives may face slower progress, particularly in achieving its revised 2035 targets for recycled materials and collection rates
• It's ability to balance internal restructuring with its climate and waste management commitments will likely be closely watched by investors

💬 One quote: “The company-wide overhaul typically occurs every three to five years to modernize operations.” — Sources familiar with the matter

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