The Coca‑Cola Company announced today the launch of a new sustainability-focused venture capital fund targeting startups with solutions with the potential to reduce the carbon footprint of the Coca-Cola System, which includes the company and its bottling partners.

The new fund is launching with $138 million in capital, including a series of $15 million from investments from the company and eight of its bottling partners, representing nearly half of Coca‑Cola system volume globally.

The new venture capital fund will seek to invest in companies at the point of commercialization, with a focus on solutions in key areas identified as having the most potential to address the system’s carbon footprint, including packaging, heating and cooling, facility decarbonization, distribution and supply chain.

John Murphy, President and Chief Financial Officer of The Coca‑Cola Company, said:

“This fund offers an opportunity to pioneer innovative solutions and help scale them quickly within the Coca‑Cola system and across the industry,. We expect to benefit from getting access to emerging technology and science for sustainability and carbon reduction.”

The fund will be managed by Greycroft, a seed-to-growth venture capital firm which invests in enterprise and consumer solutions across life cycles and industries.

Dana Settle, Greycroft Co-Founder and Managing Partner, said:

“The market for sustainable supply chain and manufacturing technology has continued to grow as consumer brands rise to meet the demands of environmentally conscious customers. Greycroft has an ‘invest anywhere’ approach that we believe allows us to identify promising startups with climate tech solutions ready to scale.”

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