One of the biggest takeaways from the just concluded WEF in Davos, Switzerland is the cheering news that some of the world’s biggest brands in the consumer market space have agreed to roll out plans aimed at saving the environment.
In recent times, environmentalists around the globe have raised an alarm over the increasing rate of Plastic pollution and its adverse effect on the environment and aqua life.
According to experts, about 8 million metric tons of plastic are thrown into the ocean annually. Of those, 236,000 tons are micro-plastics– tiny pieces of broken-down plastic smaller than the little fingernail. By 2050, experts say there will be more plastic in the oceans than there are fish (by weight)
Environmentalists have advocated for a “reduce, reuse, recycle,” strategy, however, almost all of the attention has been paid to recycling.
Now some of the world’s biggest consumer brands are trying to shift the focus to the second R, with a program that provides their products in reusable containers that can be returned for a refund.
The durable packaging program, called “Loop” was debuted at the World Economic Forum this week Led by New Jersey-based recycling company TerraCycle, Loop will offer popular products from about 25 companies including Nestle, Unilever, Procter & Gamble and PepsiCo in reusable containers that customers order online or purchase in stores and return to the company when finished.
TerraCycle said it is finalizing grocery partnerships in the U.S. and Toronto, adding distribution through London’s Tesco later this year, and targeting Tokyo in 2020 and other African markets.
At the Davos Conference, Ramon Laguarta and James Quincey, Chief Executive Officers of two of the world’s top soft drink makers, PepsiCo, and Coca Cola came together for talks on how to control and recycle plastic waste in the world.
Ramon Laguarta, noted that PepsiCo is working hard to ensure that all of its packaging materials are recyclable and biodegradable come 2025. So far, the company has already begun testing out biodegradable materials in readiness for full implementation.
Simon Lowden, President of PepsiCo’s Global Snacks Group, noted that reusability does bring an additional element of complexity.
“We are looking to help build a world where plastics need never become waste,” he said.
OLUFIKAYO OWOEYE
