Coca-Cola and Unilever: We are not convinced about plastic loans

27 Nov 2022

Coca-Cola and Unilever: We are not convinced about plastic loans

Coca-Cola and Unilever, two of the world's largest corporate plastic users, said they were not convinced about plastic loans shown as a solution to the marine litter crisis. Similar in principle to carbon credits, plastic credits allow polluters to offset their plastic footprint by purchasing certificates representing plastic removed or recycled from the environment.

Russell Mahoney, Coca-Cola's VP of PR, Communications and Sustainability for Southeast Asia, Australia, New Zealand and the South Pacific, said the company was exploring the feasibility of plastic credits, but they were "not convinced" they were a viable solution for a large multinational company like Coca-Cola.

Operating in more than 200 markets, Coca Cola said they aim to "collect, recycle and reuse in every market" rather than relying on plastic credits to offset their plastic footprint. “The idea that you might not do something [collection and recycling] in one market and we can make up for it in another market is not attractive to us,” he said.

Mahoney shared these thoughts during a virtual panel at the SEA of Solutions conference, organized by EB Impact, the philanthropic arm of Eco-Business, and the United Nations Environment Programme. Critics see plastic credits as a way for plastic producers to divert attention away from meaningful solutions to reduce their plastic footprint, while supporters argue they are a valuable tool to direct investment into the waste sector.

Unilever's Beauty, Personal Care Regional Research and Development Director Vivek Sistla stated that their perspective on plastic loans is similar to Coca Cola's. He said plastic credits could potentially work as an extension of the Extended Producer Responsibility (PPP) scheme, under which companies are responsible for the plastic they release into the environment by supporting waste management programmes, but could not be "at the heart" of Unilever's plastic management efforts.

Stating that SPP plans are in the early stages of development in Southeast Asia, Sista said Unilever wants to ensure "maximum participation" in the creation of such programs, which will help the company meet its commitments to use "less, better or no" plastic. Mahoney added that governments have the political tools to advance SPP plans and that Coca-Cola wants to be a part of the design and development of SPP plans.

 

SPP programs can play an important role in establishing a United Nations-led global agreement to prevent and reduce plastic pollution, which is planned to be completed by 2024.

https://www.eco-business.com/news/coca-cola-and-unilever-were-not-convinced-by-plastic-credits/?sw-login=true

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