They have also outlined a target of 50 per cent average recycled or renewable content across all packaging by 2030.
Greenpeace's Lindsay Soutar said renewable electricity was a big step in the right direction for the soft drink giant.
"You can't beat the renewable thing," she said.
"Greenpeace is the last organisation you'd expect to find cheering on an announcement from Coca-Cola Amatil. But in this instance we think they're doing the right thing by switching to 100 per cent renewables, and committing to net-zero greenhouse gas emissions by 2040.
"Coca-Cola Amatil is one of Australia's major energy users. Coke committing to 100 per cent renewable electricity will reduce Australia's greenhouse gas emissions and put pressure on other major businesses to make the switch."
Coca-Cola Amatil joins other big brands like Woolworths, Bunnings and Telstra which have committed to 100 per cent renewable electricity.
Soutar said companies recognised the move was a crucial part of their responsibility to tackle climate change, and increasingly, what their customers wanted to see.
"As our Federal leaders dither over an inadequate net-zero by 2050 emissions reduction target, they're being out-run by Australian businesses who are rapidly transitioning to renewable energy, and setting net zero goals for ten years earlier," she said.
"When even Coca-Cola's doing more for the environment than our government is, it shows it's time for Australia to up its climate ambition."
"While this is a welcome step, Coca-Cola Amatil still has a lot of work to do on its environmental impact, such as banning single use plastic drink bottles, one of the biggest contributors to harmful plastic pollution."