But he is fine as Bond with Broccoli in charge
Homemade caramel is made by melting sugar in a saucepan.
Brown coloring in sodas and some other products is not the same thing.
Industrial caramel coloring is made by reacting sugars with ammonia and sulfites under high pressure and temperatures. The chemical reactions create 4-methylimidazole, which in government-conducted studies caused lung, liver, or thyroid cancer or leukemia in laboratory mice or rats. This is why California recently required foods containing caramel color to be labeled as potential cancer-causing agents.
But you won't see this warning label any time soon - manufacturers simply reduced the use of caramel color enough that the labeling requirements no longer applied.
Caramel color varies slightly between products - when in beer, sauces or baked goods it has just ammonia and when used in soft drinks, it has both sulfites and ammonia. Neither one is a "good" option.
Bottom line: Choose something else, less controversial.