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The sustainability policy at Coca-Cola aims to preserve the environment and recycle the materials used. As many people know, for a long time, Coca-Cola used ordinary plastic to produce packaging, which decomposes for a long time and thus causes irreparable damage to the environment. Coca-Cola’s managers have set themselves the task of moving from conventional plastics (bottles, packaging, and caps) to recyclable materials. In the future, the company aims to ensure that 100% of the materials used are recyclable and reusable (Coca-Cola Company, n.d.). At the moment, about 70-80% of the materials used can be recycled (Księżak & Fischbach, 2017). In addition to the reputational cost associated with the environment, Coca-Cola seeks to invest in the social sphere by supporting education.
Coca-Cola has progressed in its CSR practices over the past 10-20 years and has begun to pay more attention to the environment. Society and business have changed a lot in the 21st century, and now people’s needs are closely related to ecology. Reputational costs and possible cancellations will accompany the scandals that a company will experience caused by non-compliance with CSR. One can only positively note the efforts of Coca-Cola to draw attention to environmental problems: water pollution, rotting plastic, and much more. To do this, Coca-Cola has launched a large-scale campaign to clean up rivers and reservoirs in recent years. The stakeholder theory is not recommended for use in the company because Coca-Cola has too large an audience, and local authorities will not be able to solve the problems thoroughly (Three theories of corporate social responsibility, n.d.). The triple line theory demonstrates Coca-Cola’s willingness to take decisive steps to protect its reputation (Corporate social responsibility (CSR), 2018). Through this theory, it is visible how much Coca-Cola values its audience and its opinion.
Areas, where Coca-Cola could develop are reducing its carbon footprint, purifying water, reducing human consumption of sugar, and many others. Coca-Cola can improve its labor policy to attract new workers worldwide, especially young and promising ones. They will be able to bring a new ethic and corporate culture to the company. The triple line theory suggests that the company will continue to grow through philanthropy. Coke needs to increase transparency in its charitable work and politics in general (Freeman, 2022). The company must protect justice in all areas: the environment, racial prejudice, gender stereotypes, and many others (Scherer, 2017). It is also recommended to become responsive to the audience and encourage creative solutions from employees.
References
Coca-Cola Company. (n.d.). Sustainable business. The Coca-Cola Company. Web.
Corporate social responsibility (CSR). (2018). Pressbooks. Web. Web.
Freeman, J. (2022). What is Coca-Cola’s CSR policy? AskTraders. Web.
Księżak, P., & Fischbach, B. (2017). Triple bottom line: The pillars of CSR. Journal of Corporate Responsibility and Leadership, 4(3), 95-110.
Scherer, A. G. (2017). Theory assessment and agenda setting in political CSR: A critical theory perspective. International Journal of Management Reviews, 20(2), 387–410. Web.
Three theories of corporate social responsibility. (n.d.). Saylordotorg. Web.
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