Does Green Finance Matter in the COVID-19 Pandemic? Case Study of Coca-Cola FEMSA "Green Bond Framework"

Abstract

This research focuses and aims to analyze the importance of green finance in helping to minimize the impact of the COVID-19 pandemic and its impact on the Coca-Cola FEMSA's (CCF's) "Green Bond Framework"(GBF) initial goals that could be hampered due to the phenomenon. This research uses the green theory perspective, measured CCF's GBF as a good green investment initiative, using green investment principles, and measured the success of Coca-Cola with the Environmental, Social, and Governance (ESG) concept. This study conducted qualitative research using case study methods and analyzed secondary data in the form of books, journals, articles, news, reports, and websites. The findings of this research are the COVID-19 phenomenon doesn't distract CCF's GBF initial goals and green finance is believed to minimize the impact and occurrence of pandemics in the future. This research also analyzes that CCF can fulfill the ESG criteria, but not all indicators have good results, as in the social field, where Coca-Cola has a bad impact on health. Likewise in the field of governance, where Coca-Cola employees are still dominated by men compared to women. The implications of this research are to contribute to a new understanding, motivate, and increase companies' awareness of the importance of CSR in the form of green finance during the COVID-19 pandemic in achieving sustainable finance and development.