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Industry beverage leaders like Coca Cola must take more responsibility
for the solid waste caused by discarded beverage containers
and the minimal level of recycled content in its plastic bottles.
The resolution asks the board to set a goal to achieve an
average 25 percent recycled content in its plastic beverage
containers and a container recovery rate of 80 percent --
both by 2005.
Coke sells more than 25 million plastic bottles and 70 million
aluminum cans of Coca-Cola every day. An estimated two-thirds
of the used plastic bottles and nearly one-half of the cans
end up in incinerators or landfills. This is an enormous waste
of raw materials.
The company made a commitment in 1990 to recycle significant
amounts of plastic Coke bottles, then quietly dropped the
program, saying it wasn't cost effective. Coke says there
isn’t an adequate supply of used containers for recycling.
At the same time, Coke is a major force in lobbying at the
state and federal against the passage of more bottle bills
that would provide a plentiful supply of materials for them
to recycle. Shareholders have asked the company to stop opposing
bottle bills or offer an alternative policy that can achieve
equivalent recycling rates to bottle bill states.
A group of socially responsible investors including As You
Sow and Walden Asset Management joined with the Grass Roots
Recycling Network, a citizen advocacy group, last fall to
pressure the company to start recycling PET bottles again.
This spring the company says it resumed adding recycled content
to 2.5% of its PET bottles.
Unless the Coca-Co. steps up to take responsibility for its
contribution to the national solid waste problem, its reputation
will be at risk.
Coke needs to take responsibility for the proper disposal
of its products. It must either stop opposing bottle bills
or propose its own alternative that achieves the 80% recycling
rate attained by bottle bills.
Vote YES on Item 5 to send a message to management to
use its considerable innovation, resources and creativity
to resolve this urgent problem.
For a more information, go to Issue
Analysis.
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