CAF and Coca-Cola sign agreement to foster sustainable development in Latin America and the Caribbean

With the purpose of collaborating to advance sustainable development, CAF—development bank of Latin America and the Caribbean—and Coca-Cola Latin America signed a memorandum of understanding with a cooperation scheme to align the sustainability and inclusion agendas of both organizations.

The instrument was signed during an event held at Coca-Cola's corporate offices in Mexico City, by Sergio Londoño, Senior Vice President of Public Affairs, Communications, and Sustainability at Coca-Cola Latin America, and CAF Executive President Sergio Díaz-Granados.

The cooperation agreement establishes three main goals:

1. Joint actions in the field of water and water security, prioritizing basin replenishment, reforestation, water efficiency, and regenerative agriculture.
2. Economic empowerment, focusing on vulnerable groups, actions in education and financial inclusion, and better training and business development, with a gender focus.
3. The circular economy, focusing on proper solid waste management and recycling.

"We proudly announce officially that the Coca-Cola Latin America and CAF teams are joining forces with Latin American and Caribbean people to help improve their quality of life. The driving force of change of the people in the region shows us that our life purpose must be to make a difference. Therefore, at Coca-Cola Latin America, we have forged partnerships with associations, organizations, programs, and communities, and, in line with the Sustainable Development Goals (SDGs), we have set goals that push us to strive towards a better shared future. We believe in the magic of partnerships because it is the spirit that guides us on this path and shows us the power of joining forces to change the Latin American region," said Sergio Londoño, Senior Vice President of Public Affairs, Communications, and Sustainability at Coca-Cola Latin America.  

With the signing of this agreement, CAF reiterates its commitment to becoming the green bank and fostering sustainable and inclusive growth in Latin America and the Caribbean, prioritizing investment in projects that improve the quality of life of the Latin American and Caribbean people and preserve the environment and biodiversity.

Moreover, Coca-Cola is making strides in attaining its global ESG objectives and strategy, called "A World Without Waste." The partnership with CAF is in line with Coca-Cola's global 2030 goals on the company's three core pillars. In recycling, their goal is to collect and recycle the equivalent of 100% of the containers they put on the market. In protecting and preserving water, they have set the goal of replenishing at least 100% of the water they use globally to produce their beverages. In terms of economic empowerment, it seeks to empower 2 million entrepreneurs, helping create prosperous and resilient businesses. 

"We are pleased to announce this partnership with Coca-Cola as we are adding an important ally to move forward in the sustainable development of our peoples, the eradication of poverty and inequality, the protection of the planet, the comprehensive creation of opportunities for women, among other vital issues. There is still work be done to improve the quality of life of millions of Latin Americans and Caribbeans, especially the most vulnerable groups," said CAF Executive President Sergio Díaz-Granados.

With this memorandum of understanding, both institutions confirm their role as regional leaders in terms of the green agenda and their willingness to work together with strategic partners to advance sustainable economic development in Latin America and the Caribbean.