Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview CClimlimaattee Waste Water People Communities Swire Coca-Cola works with based on the most recent 昀椀nancial year’s governments and NGOs to protect local operational emissions and will fund water sources that may be at risk from decarbonisation projects. The shadow climate change or anthropogenic activities pricing mechanism will be applicable to and secure access to clean and safe water planned projects that exceed a threshold for communities in need. Its 昀氀agship value. In this way the ICP integrates CSR programme “Carbon Reduction carbon pricing in the decision-making Alliance” engages value chain partners in process for future operating company the Chinese Mainland, to reduce carbon, projects while facilitating progress and support local communities and towards our emissions goals. The ICP will biodiversity. Read more in Biodiversity. be trialled with Swire Coca-Cola, Swire Swire Coca-Cola also provides bottled Properties, and HAECO, which contribute over 80% of our operational emissions. water to people a昀昀ected by natural disasters as part of The Coca-Cola We will continue to strengthen our TCFD Company’s Clean Water 24 emergency reporting and will look to re昀椀ne our plan. Within 24 hours of a natural disaster, scope 3 emissions calculations for key Swire Coca-Cola will identify the nearest scope 3 categories. We will build on our warehouse and arrange delivery, in renewable purchasing guidelines and will collaboration with local governments, facilitate the sharing of information about supporting organisations and NGOs. renewable energy purchase agreements. Looking forward Further reading We are in the process of building on our Swire Paci昀椀c Annual Report 2030 decarbonisation plans by developing 2022 – Risk management a carbon transition action plan to achieve net zero by 2050. The implementation of the roadmap will Explore more be supported by Internal Carbon Pricing (ICP). In 2022, the Board approved an TCFD ICP model to be piloted in 2023. The hybrid model comprises a carbon fee and ESG risk management shadow pricing mechanism. The carbon fee for each operating company will be SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 32