The Coca-Cola Co (NYSE:KO) has disclosed that it will up its recycling goals by ensuring that every can or bottle is recycled for each beverage the company sells by 2030. This was revealed hot on the heels of fast food chain McDonald’s announcing its own recycling goals. The two plus other consumer product firms have come under increasing pressure in recent years from environmental advocates and consumers who are calling for a stop to the use of plastic packaging.
Besides Coca Cola and McDonald’s other consumer product firms which are under pressure to up their recycling targets or do away with plastics altogether include Danone. The firm has consequently revealed that by 2025 all Evian bottles will be manufactured from 100% recycled plastic.
“We want to adopt a circular model where 100 percent of our plastic bottles will become bottles again. This will enable plastic to evolve from potential waste to become a valuable resource,” the global brand director of Evian, Patricia Oliva, said in an interview with Reuters.
In the case of McDonald’s the fast food chain has set a goal of using environmentally friendly or recycled materials in the soda ups it uses by 2025. This will also be applied to meal boxes as well as other packaging.
To meet its recycling goals Coca Cola will team up with environmental groups and local governments. Additionally Coca Cola will also recycle cans and bottles from other firms. This has however not been welcomed by environmental group Greenpeace which would prefer that the beverages giant focused on reducing plastic use as opposed to recycling plastic.
Reduction of waste
The chief executive officer of Coca Cola, James Quincey, however defended the beverage company saying that reusing and recycling plastics will reduce waste. Quincey would however not reveal how much the company will invest to ensure it meets its recycling goals.
One of the criticisms levelled against plastic is that it is not biodegradable. According to a report which was released last year plastic weighing more than nine billion tons has been produced across the globe since 1950.
On Friday shares of The Coca-Cola Co edged upwards by 0.60% to close the day at $47.16 per share.