Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Coca-Cola switches to recycled plastic for PET bottles in Sweden

Published 19/11/2019, 13:17
Updated 19/11/2019, 13:21
© Reuters.  Coca-Cola switches to recycled plastic for PET bottles in Sweden

STOCKHOLM (Reuters) - Drinks group Coca-Cola (NYSE:KO) said on Tuesday it would start using PET bottles in Sweden made only of recycled plastic in a first step towards expanding its use of recycled plastic in western Europe.

Coca-Cola said the switch at its Jordbro factory south of Stockholm would enable the company to use around 3,500 tonnes less of virgin plastic annually.

The company also said increasing the share of recycled material in packaging was an efficient way to reduce its C02 footprint.

"That means a 25% reduction of CO2 emissions annually compared with before the transition, when the portfolio consisted of around 40% recycled plastic," it said, referring to its Swedish operations.

The group uses 128 billion PET bottles a year globally, of which 205 million are in Sweden, company spokeswoman Frida Keane said.

Coca-Cola and rivals such as PepsiCo (NASDAQ:PEP) and Nestle are stepping up action to curb plastic use as the industry reacts to growing consumer concerns about global warming and plastic waste pollution.

Environmental group Greenpeace said in October that Coca-Cola was the world's biggest producer of plastic waste for the second year in a row.

Keane said the move in Sweden was a first step toward a company ambition to use PET bottles from 100% recycled plastic in western Europe by the end of 2023.

At group level, Coca-Cola's recycled plastic ratio is 11% currently, and in western Europe, 27%, Keane said.

Last year, Coca-Cola pledged to collect and recycle a bottle or can for every one it sells globally by 2030.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Its move in Sweden, planned for the first quarter of 2020, is a joint initiative by the beverage maker and its bottling partner in western Europe, Coca-Cola European Partners, Keane said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.