Coca Cola CO PX14A6G Filing

Risk Assessment

Risk Level: medium

Key Financial Figures

• $5 million — nts of PX14a6g as it holds in excess of $5 million in shares in the Company in funds under
• $20B — nts, drought, and wildfires caused over $20B of crop losses in the US in 2024. 19

Filing Documents

• o323262px14a6g.htm (PX14A6G) — 39KB
• 0001214659-26-003640.txt ( ) — 40KB

From the Filing

OF REGISTRANT: The Coca-Cola Company NAME OF PERSON RELYING ON EXEMPTION: The Green Century Equity Fund ADDRESS OF PERSON RELYING ON EXEMPTION: 114 State Street, Suite 200, Boston, MA 02109 The Green Century Equity Fund is filing this solicitation pursuant to the requirements of PX14a6g as it holds in excess of $5 million in shares in the Company in funds under management. Shareholder Proposal No. 8 on The Coca-Cola Company’s 2026 Proxy Statement: Shareowner proposal requesting a report on the Company’s plans to increase sustainability disclosure The Coca-Cola Company Symbol: KO Filed by: The Green Century Equity Fund Green Century Capital Management, Inc. is the investment advisor to the Green Century Equity and seeks your support for the proposal filed at The Coca-Cola Company (hereby referred to as “Coca-Cola” or “the Company”) in the 2026 proxy statement asking the Company to issue a report assessing if and how it will increase disclosure on how it is managing the sustainability issues that are material to its business. The Proponent believes that taking such action would allow investors to better analyze risks and opportunities that may impact the value of the business and keep it competitive with peers. RESOLVED : Shareholders request that Coca-Cola issue a report, at reasonable cost and omitting proprietary information, describing whether, and how, it will increase the inclusion of updated information in its sustainability disclosures that better demonstrate the effectiveness of company strategies in mitigating priority sustainability risks for the Company, including mitigating risks to the business and improving environmental outcomes of its efforts. SUPPORTING STATEMENT : Proponents suggest, at management’s discretion, that the report: · Be prepared in accordance with a recognized framework · Include a materiality assessment to ensure that reporting covers issues that are material to its business. RATIONALE FOR A “YES” VOTE 1. Coca-Cola fails to provide sufficient sustainability reporting for investors. 2. Without a recent materiality assessment, it is not clear whether Coca-Cola’s sustainability disclosures include information on all the environmental topics that are material to the Company’s business. 3. Coca-Cola lags its peers on sustainability disclosure. This is not a solicitation of authority to vote your proxy. Please DO NOT send us your proxy card; Green Century Capital Management is not able to vote your proxies, nor does this communication contemplate such an event. Green Century Capital Management urges shareholders to vote for Item number 8 following the instruction provided on the management’s proxy mailing. BACKGROUND As the largest beverage company in the world, Coca-Cola’s operations both significantly impact and rely on the environment and ecosystem services. The Company released sustainability reports in accordance with the GRI standards from 2019-2023. Its 2022 sustainability report identified Packaging and Circularity, Water Stewardship, and Climate Change as priority environmental topics based on importance to stakeholders and impact on the Company. Since the Company’s 2022 sustainability report, it has released sparse “Environmental Updates” in lieu of full sustainability reports. These updates lack decision-useful information on initiatives and outcomes related to the priority environmental topics the Company previously identified. The sustainability section of Coca-Cola’s website does not include this missing information, and the reporting is not prepared in accordance with recognized reporting frameworks. Additionally, Coca-Cola does not disclose when it last conducted a materiality assessment, making it unclear whether the Company’s sustainability disclosures cover all the topics that are material to the Company’s business. 1) Coca-Cola fails to provide sustainability reporting for investors. Sustainability reporting is a useful tool for companies to disclose information on sustainability issues that impact their business and are thus important to their stakeholders. Executives in a Deloitte 2024 study cited reduced risk, increased return on investment, and brand reputation and enhancement as top expected outcomes from sustainability reporting. 1 Deloitte concludes from interviewing executives in the consumer goods industry that “if your company isn't telling its ESG story, it's likely that someone else is,” meaning rigorous sustainability reporting is important for protecting a company’s reputation. 2 Comprehensive sustainability information is valuable to investors and results in company-wide benefits. Studies have found that companies that provide sustainability disclosures according to a robust framework such as the GRI standards have improved access to capital. 3 A 2025 MSCI study fou

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