High value plastics like the ones found in Coca-Cola Co> (NYSE: KO) discarded bottles can be recycled and reused into new bottles, according to company CEO James Quincey.
Coca-Cola is able to re-use discarded bottles into new ones and the company is now experimenting how it can take "any type" of plastic to be used in future production, Quincey said on CNBC's "Squawk on the Street" segment Monday morning. Once successful, the pollution problem caused by discarded plastic in the seas and oceans can be solved with a combination of "collection" and "innovation."
Coinciding with Quincey's CNBC appearance, The Wall Street Journal reported on how plastic makers and their clients are testing a new technology referred to as chemical recycling. The process combines heated chemicals with dirty plastic to create a new and clean product that can be re-used in production.
This chemical-based solution can be brought to scale over time and will prove to be a "breakthrough" for the plastic industry, Quincey said.
Why It's Important
Sustainability, human rights, equality, packaging, water, are some of the many new initiatives Quincey is focused on at Coca-Cola. One of these initiatives, a pledge to become water neutral by 2020 was achieved five years earlier than planned.
Another initiative on the books calls for Coca-Cola to slash its carbon footprint by 25% by next year.
"I am confident we can get there," he said.
At the end of the day there is "only one planet" for us to live on and requires Coca-Cola to consistently improve its environmental record.
"We have a track record of setting ambitious sustainability goals and going after them," Quincey said.
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