Coca-Cola indicators joint assertion on round economic system
James Quincy reaffirms Coca-Cola's commitment to sustainability by signing a joint circular economy declaration
James Quincey, Chairman and CEO of The Coca Cola company, has joined leaders of organizations that include Loreal, IKEA Foundation, World Wildlife Federation and the World Economic Forum, along with Ellen MacArthur Foundationto support a circular economy. In a statement published in the Financial Times WeekendThey pledged to "better rebuild" after the challenges of the global corona virus pandemic by designing waste from their systems.
"With the world facing unprecedented challenges," the statement said, "we are more than ever committed to accelerating the transition to a circular economy and creating solutions that combine economic opportunities with benefits for society and the environment . "
The statement highlights the commitment to eliminate unnecessary plastics, innovate towards new business models and materials, and ensure that the plastics used are recyclable.
Coca-Cola joins companies that have emerged from the global coronavirus pandemic, which Quincey has termed "new reality" – one that requires changes in the way we work and a future that requires flexibility, resilience and new thinking. The circular economy creates important opportunities for economic growth, innovation and job creation that also address global challenges such as climate change and pollution.
Coca-Cola's ongoing global “World Without Waste” initiative shows how an organization contributes to a circular economy.
The initiatives include the goal of making global packaging 100% recyclable by 2025, the collection and recycling of a bottle or can for each bottle sold by 2030, and working with stakeholders, nonprofits, communities, governments and industry partners for recycling and reuse
Each division of the company has a plan to achieve these goals, with managers focusing on progress and accountability.
For climate change, the Coca-Cola system has reduced the carbon footprint of the “drink in hand” by 24 percent since 2010 and is therefore well on the way to achieving the company's 25 percent target for 2020. A climate protection plan for 2030 will be introduced this year for The Coca-Cola Company with additional targets for reducing the carbon footprint and new programs to improve climate resilience in the entire supply chain.