Coca-Cola, celebrating 70 years since the production of its first bottle, continues to make a substantial socio-economic impact in the Canary Islands. According to a recent Socioeconomic Impact Study conducted by the consultancy firm Steward Redqueen, Coca-Cola’s operations in the archipelago generated an added value of 355 million euros in 2022, representing 0.8% of the region’s GDP.
This figure includes 29 million euros of direct added value produced by the company itself, and an additional 326 million euros generated through its network of customers and suppliers.
Coca-Cola’s influence extends beyond economic contributions. The company is a significant employer in the Canary Islands, generating direct and indirect employment for 5,710 people. This includes 253 direct jobs within the company and 5,457 indirect jobs through its extensive supply chain. Nationally, Coca-Cola’s employment impact reaches 99,500 people, demonstrating that for every direct job, an additional 25 indirect jobs are created.
In the Canary Islands, Coca-Cola’s presence is bolstered by its Tacoronte plant in Tenerife, which has been operational since 1997. Spanning 56,000 square meters, the facility is equipped with five production lines and has a capacity to produce up to 210 million litres of beverages annually. The plant supports a vast distribution network, serving more than 16,500 customers across the islands, including hotels, restaurants, and food establishments.
Beyond its economic footprint, the company is deeply committed to social and environmental sustainability. Its “This is Forward” strategy outlines the company’s dedication to reducing its environmental impact and fostering positive social change. Notably, Coca-Cola has made strides in reducing its greenhouse gas emissions, aiming for a 30% reduction by 2030 and climate neutrality by 2040. The company has also focused on water conservation, achieving a return of 161% of the water it uses in production to nature.
Coca-Cola’s social initiatives include the GIRA Youth and GIRA Women projects, which have supported over 7,000 young people and 20,000 women nationwide, including participants in the Canary Islands. Additionally, the company’s employees contributed 8,223 hours of corporate volunteering in 2022, further emphasizing the company’s commitment to community engagement.
In terms of environmental stewardship, Coca-Cola has successfully reduced the use of virgin materials in its packaging and has undertaken initiatives such as the Circular Seas program, which has removed 1,880 tonnes of waste from the ocean. Moreover, through the HOSTELERÍA #PorElClima program, Coca-Cola is helping over 7,000 HORECA establishments, including 164 in the Canary Islands, to reduce their carbon footprints.
Coca-Cola’s enduring presence in the Canary Islands is a testament to its significant role in driving economic growth, supporting local employment, and leading environmental and social initiatives that benefit the broader community.
