Climate Impact Strategies Panel: Sustainability LIVE London

January 07, 2025

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Executives from Coca-Cola, Canon, Klarna Bank and Verco feature on an engaging panel that explores climate impact strategies at Sustainability LIVE London

Nicola Tongue, Associate Director of Ventures at Coca-Cola Europacific Partners, Peter Bragg, EMEA Sustainability & Government Affairs Director at Canon EMEA, Salah Said, Head of ESG & Sustainability at Klarna Bank AB and Andrew Todd, Director of Corporates at Verco delved into the intersection of accountability, technology and collaborative action during a panel at Sustainability LIVE London 2024.

Transparency and action: Reporting to drive results

Andrew reflects on the shift from corporate social responsibility (CSR) projects to robust ESG disclosures, acknowledging the challenges posed by overlapping and complex frameworks.

Salah emphasises the role of the Corporate Sustainability Reporting Directive (CSD) in standardising ESG data.

He explains, “I think the initial thing that every company should be doing is create transparency and reporting what they do and what they don't. [...] I think companies really should be embracing that and seeing this as an opportunity because it could also inform your strategy and it could help you internally set certain targets.”

However, he cautions that reporting must translate into real action, urging businesses to integrate sustainability into their core operations rather than simply meeting compliance requirements.

Climate Impact Strategies panel at Sustainability LIVE London 2024

Harnessing technology for transformative solutions

The discussion turns to the role of technology in addressing climate challenges.

Nicola shares Coca-Cola’s innovative use of carbon capture and utilisation (CCU), presenting innovative projects where CO₂ is repurposed as a resource: “We’re capturing a thousand tonnes of atmospheric CO₂ using direct air capture that we're going to use as an ingredient within our drinks.”

Other ventures include converting CO₂ into sugar and creating recyclable PET bottles partially made from captured carbon.

These innovations demonstrate the potential of technology to reduce reliance on fossil fuels while delivering tangible environmental benefits.

Salah underscores the need for companies to invest in such projects, noting that global supply for CCU and carbon dioxide removal (CDR) solutions must scale significantly to meet net-zero targets.

The panel also discusses the challenges of managing data effectively.

Andrew advocates for aligning reporting methodologies with reduction strategies to ensure clarity and relevance.

He advises companies to avoid overcomplicating data collection and focus on actionable insights that directly support sustainability goals.

Nicola Tongue, Associate Director of Ventures at Coca-Cola Europacific Partners, at Sustainability LIVE London 2024

Accountability today for a sustainable tomorrow

As the discussion shifts to accountability, Salah stresses the importance of balancing decarbonisation with investments in nature-based solutions and carbon removal technologies. “Avoiding emissions is not the same as removing them,” he says, encouraging businesses to adopt a holistic approach that prioritises both transparency and impact.

The issue of greenwashing also surfaces, with panellists agreeing that claims of climate neutrality must be backed by substantive action.

Salah calls for businesses to focus less on marketing sustainability efforts and more on integrating them into their core strategies: “Do this truthfully and be transparent about it and don't try to derive a claim out of it.”

Peter raises concerns about the overwhelming volume of data required for compliance with frameworks like CSRD.

He argues that while data is critical for tracking progress, it must not distract from immediate action: “By the time it's embedded in everyone's reporting, [...] action will be somewhere towards 2030 by the time that happens [...] we need more accelerated action,” he cautions, highlighting the need for accelerated efforts to combat climate change.

Peter Bragg, EMEA Sustainability & Government Affairs Director at Canon EMEA