James Quincy reinforces Coca-Cola sustainability commitment by signing a joint statement on circular economy
James Quincey, Chairman and CEO of The Coca-Cola Company, has joined heads of organisations that include Loreal, IKEA Foundation, World Wildlife Federation and the World Economic Forum, along with the Ellen MacArthur Foundation, in support of a circular economy. In a statement published in the Financial Times Weekend, they pledged to “build back better” after the challenges from the global coronavirus pandemic by designing out waste from their systems.
“As the world faces unprecedented challenges,” the statement said, “we are more committed than ever to accelerating the transition to a circular economy, creating solutions that combine economic opportunity with benefits to wider society and the environment.”
The statement highlights a pledge to eliminate unnecessary plastics, innovate toward new business models and materials and to ensure plastics that are used are recyclable.
Coca-Cola joins businesses emerging from the global coronavirus pandemic in what Quincey has called a “new reality” – one that requires changes to the way work is done and a future that calls for flexibility, resilience and new thinking. The circular economy creates vital opportunities for economic growth, innovation and job creation that also address global challenges such as climate change and pollution.
The ongoing global World Without Waste initiative at Coca-Cola illustrates the way an organisation contributes to a circular economy.
The initiatives include aiming to make global packaging 100% recyclable by 2025, planning to collect and recycle a bottle or can for every one sold by 2030, and working with stakeholders, nonprofits, communities, governments and industry partners to recycle and reuse
Each of the company’s business units has a plan to achieve these goals, with a strong executive focus on progress and accountability.
For climate change, the Coca-Cola system has reduced the carbon footprint of the “drink in your hand” by 24 per cent since 2010, well on the way to reaching the company’s 25 per cent target for 2020. A 2030 climate plan rolls out this year for The Coca-Cola Company, with additional targets for carbon footprint reductions as well as new programmes for improving climate resilience across the supply chain.