The Coca-Cola Co (NYSE:KO) announced plans to recycle 100% of its packaging materials by 2030.
The company is looking to become more environmentally friendly amidst criticism for activists that have urged the company to change its practices as Coca-Cola containers have a negative effect on the environment. In just over a decade, the company hopes all its packaging will come from recycled materials.
The soft beverage maker added on Friday that it wants its bottles to on average use 50% recycled content to make them by 2030. Coca-Cola is also planning other sustainable initiatives such as creating better bottles through other strategies such as developing plant-based resins and cutting down on the amount of plastic it uses.
“Consumers around the world care about our planet, and they want and expect companies to take action,” CEO James Quincey said. “That’s exactly what we’re going to do, and we invite others to join us on this critical journey.”
The company added that it plans to invest some assets in helping to spread the word about recycling for other soft beverage and bottled water companies to follow. Coca-Cola says that there is currently an education gap regarding how to use recycled materials for bottles, despite public calls for the practice.
PepsiCo, Inc. (NYSE:PEP) recently announced that 100% of its packaging items will be recyclable by 2025.
KO stock gained 0.6% on Friday.
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