 A global supply chain finance programme with ESG at its heart won the Gold Award for Coca-Cola Europacific Partners at last night's Working Capital Awards ceremony in Amsterdam, sponsored by American Express. The Rabobank-run project does not include any payment terms extension for CCEP. Instead the aim is to work towards the group's target to reduce greenhouse-gas emissions across its value chain by 30 per cent by 2030.
Anthony Breach, head of procurement at Coca-Cola EuroPacific Partners, accepted the trophy in front of an audience of treasury and procurement leaders at the Amstel Hotel. Judges were impressed with the company’s use of supply chain finance (SCF) to help encourage sustainable behaviour among its suppliers. The SCF programme works by incentivising suppliers to reduce their carbon emissions in return for more favourable financing rates. The judging panel also recognised Coca-Cola’s efforts to make the programme as accessible as possible, with suppliers of all sizes invited to join. They also praised the soft drink producer’s decision not to link any extension in payment terms to the SCF programme. The winning programme reflects a wider industry trend among multinational corporates to look at how they can reduce the carbon footprint across their entire value chain. Many of this year’s award entries had a sustainability angle to them, with corporates looking at how SCF and other working capital solutions can be part of a broader strategy to reduce carbon emissions and encourage other sustainable practices among their suppliers. Other winners and those awarded Highly Commended this year include global discount store brand Pepco who uses SCF to maintain its market position as a low-cost retailer; the Swiss chocolate producer Barry Callebaut who turned to SCF to meet certain ESG goals, and Arçelik, a Turkish household appliance manufacturer who is using SCF to help its suppliers tackle high inflation. The full list of awards is below. Best Integrated Working Capital project Winner: Teva Pharmacueticals Highly Commended: Arcelik Best use of Supply Chain Finance Winner: Pepco Group Highly Commended: Pick n Pay Best ESG Working Capital Initiative Winner: Coca-Cola Europacific Partners Highly Commended: Barry Callebaut, Pick n Pay Best use of Receivables Finance Winner: HCL Highly Commended: Krispy Kreme Best use of Payables Finance Winner: Arçelik Highly Commended: Coca-Cola Europacific Partners, Henkel Best Cash Forecasting Initiative Winner: Kellogg's Best Working Capital Funding Solution Winner: Pick n Pay Highly Commended: Arçelik, Kellogg's Best use of Technology for a Working Capital Project Winner: Kellogg's Highly Commended: Arçelik, Coca-Cola Europacific Partners Working Capital Champion: Thomas Dunn, Orbian Working Capital Startup of the year: WeFi Working Capital Innovation Award: Calculum Comments are closed.
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