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By Bloomberg

Coca-Cola Co. and its bottling partners expect to be replenishing 100 percent of the water used in their factories by the end of 2015, reaching a longstanding conservation goal five years ahead of schedule.

The beverage giant, which announced the replenishment target in 2007, said it’s already “balancing” about 94 percent of the water, meaning it puts back almost as much as it takes in. Coca-Cola relies on a mix of systems to restore the water, including waste treatment at its plants and reforestation projects.

“As a consumer of water, the Coca-Cola system has a special responsibility to protect this shared resource,” Chief Executive Officer Muhtar Kent said in a statement on Tuesday.

The project is meant to ensure the company will have enough water to meet its needs, as well as reassuring customers who may be concerned about drought in California and elsewhere. Coca- Cola had originally planned to be water-neutral by 2020.

Through 209 projects in 61 countries, the Atlanta-based company and its bottling partners have given back almost 153.6 billion liters of water, according to the company. The Coca-Cola System has also recycled 126.7 billion liters of water after waste treatment. Combined, these numbers are set to meet the company’s goal by the end of 2015 based on 2014 sales volume.

Reducing Risk

The program isn’t philanthropic so much as a strategic business imperative, Greg Koch, global director of water stewardship at Coca-Cola, said in an interview. Local water access is vital to the company’s success, he said, since “the price point that we sell our products demands that we manufacture and distribute locally.”

When water supply is stressed, “that presents risks, risk to those communities, those ecosystems, and all businesses operating there -- including ours,” Koch said.

As part of the effort, Coca-Cola has teamed up with other organizations to increase water access and protect river basins. Even after hitting the latest milestone, there is plenty of work left to do, Koch said.

“There are still watersheds -- regardless of how much we’ve replenished -- that have stress and therefore are risks to ecosystems and those communities and economies that we’re a part of,” he said. “We have to continue to do work well beyond any percentage of our sales volume because it is a vital business risk and a fundamental of our business model.”