Coca-Cola among leading brands demanding global treaty to cut plastic production




  • In World
  • 2022-01-17 08:11:48Z
  • By Axios
 

Coca-Cola, PepsiCo, Unilever and Ikea were among over 70 brands on Monday to issue a joint statement calling for a global treaty to fight plastic pollution that would include reducing production of the material.

Why it matters: The United Nations Environment Assembly (UNEA 5.2) that begins next month will see government officials gather to begin talks next month on a treaty on plastic pollution - "a key growth area for the oil industry," per Reuters.

Get market news worthy of your time with Axios Markets. Subscribe for free.

  • It's not clear whether negotiations would see tougher action on the management of waste and recycling - which would "likely face resistance from big oil and chemical firms and major plastic-producing countries," including the U.S., Reuters notes.

What they're saying: "We are at a critical point in time to establish an ambitious UN treaty that fosters collaboration for systemic solutions and speeds up the transition to a circular economy globally," the brands argue in their statement.

  • "UNEA 5.2 is the decisive, most auspicious moment to turn the tide on the global plastic pollution crisis. We cannot afford to miss it."

By the numbers: A November study found the world had generated over 8 million tons of pandemic-related plastic waste, with more than 25,000 tons of plastic polluting the world's oceans since the COVID-19 outbreak began.

Go deeper... Study: Plastic pollution can be curbed

COMMENTS

More Related News

Coca-Cola vs. PepsiCo: Which Stock Looks More Promising Moving Forward?
Coca-Cola vs. PepsiCo: Which Stock Looks More Promising Moving Forward?

A pair of legendary rivals go head to head. One must come out on top.

Coca-Cola
Coca-Cola's attached bottle cap is rock bottom of hokey greenwashing

Don't get me wrong, better recyclability is a good thing, and fewer bottle caps failing to make their way to recycling? In the rest of Europe, Coca-Cola and other drink manufacturers figured out a functioning system: pay a deposit when you buy a bottle or aluminum can and you get a deposit back when you return it. It works: In Norway, for example, in 2018, the return ratio of reusable bottles was 95%, and aluminum cans were returned in upwards of 98% of all cases.

Warren Buffett is holding these stocks for the massive free cash flow - with inflation near 40-year highs, you should too
Warren Buffett is holding these stocks for the massive free cash flow - with inflation near 40-year highs, you should too

These companies produce the only thing that matters.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: World