Find out what 2024 has in store for businesses, how big systems impact not only the local economy but also market growth, and how these entities think they should contribute to societal challenges. In an interview with Diplomacy & Commerce, Coca-Cola HBC Serbia and Montenegro CEO Svetoslav Atanasov shares his insights.
The economy and the social fabric are both being tested by the current climate of uncertainty. What do you, as the CEO of a major corporation, anticipate for 2024, and do you think we’re in for another year of difficulties?
For several years now, we have been living in a predictably unpredictable environment. We are still experiencing high inflation, and geopolitical events have a significant impact on economic patterns, so next year won’t be any different.
Even in such circumstances, we find positive aspects – resilience, innovation development, which make our business more relevant in the current time. All of this is possible thanks to our employees, who embody these values and with whom we can conquer any summit.
You’ve got a 20-year track record in Montenegro. In your opinion, what factors are most important in shaping the home market?
We are proud of our two decades of operation in Montenegro. These are two decades of growth, along with our customers, of whom we now have over 3,200, market development, portfolio expansion, and the establishment of new standards in the field of social responsibility and sustainable business.
The Montenegrin market has gone through several different transitions in these 20 years, showing significant flexibility and recovery speed. All of this, along with the experience of all of us as existing investors, builds the reputation of an investment destination and contributes to economic development. We can never emphasize enough how important predictability in the business environment is, along with a continuous dialogue between decision-makers and the business sector. It is essential for the success of companies and brings new investments and development to the economy. I believe that in the coming decades, we will continue to develop the domestic market, and through partnerships and joint ideas, we will come up with appropriate and sustainable solutions.
You put sustainability front and centre a lot. For your business, what does sustainability actually entail?
It means that we are persistently and dedicatedly transforming our business to be fully sustainable, meaning it has a positive impact on the environment, community, and society as a whole.
I will mention just a few results on this journey. Today, compared to 15 years ago, we use half as much water and consume about 60% less energy to produce one liter of our beverage. All of our product packaging is recyclable, and through continuous innovation, we reduce plastic usage. Of course, one of our most important tasks and challenges is to reduce CO2 emissions, with the goal we have set to achieve net zero by 2040.
How do you approach the issue of packaging waste?
I believe that a large number of representatives of the beverage industry would tell you that solving this issue – namely, a higher percentage of collected and then recycled packaging, is one of the most important items on our agendas. I also believe that no one is more interested than us in ensuring that every used bottle or can be reused instead of ending up in a landfill or, worse, in nature.
Used packaging is a valuable resource that should be reused. That is why we strive to raise awareness among our employees, partners, customers, and consumers, and support systems for collecting packaging waste. Through the “Catch the Clean Wave” initiative, for four years now, we have been collecting packaging waste together with our partners and sending it for recycling.
We have made a particularly important contribution, together with partners from our industry and the Montenegrin Chamber of Commerce, to the development of the first Study on Packaging Waste. This Study provides an analysis of the situation and proposed solutions. I am convinced that it can serve as a good foundation and a guide for decision-makers to establish adequate packaging waste management systems.
In addition to all these initiatives, Coca-Cola HBC is also known for its youth projects.
Young people are our driving force and inspiration.
In addition to our well-known Coca-Cola Youth Empowered project, through which we have empowered over 3,000 young people during seven years of implementation, we support innovative and bold young people in addressing social challenges. Our company is a proud partner of the Social Impact Award program, as well as the European Youth Card program in Montenegro, which brings together around 55,000 young people.
An inevitable question – what can we expect in your portfolio in the coming year?
Although we have a comprehensive portfolio, innovation is our constant. We are preparing innovations in the coming period, and in line with our strategy, we will certainly strengthen low or no calorie options. This way, we support consumers in making choices that align with their needs and lifestyles.
Kocka:
_We are proud of our two decades of operation in Montenegro. These are
two decades of growth, along with our customers, of whom we now have
over 3,200, market development, portfolio expansion, and the
establishment of new standards in the field of social responsibility and
sustainable business._