By Clara Hudson
Beverage and snack companies say they are making progress on sustainable packaging, but environmentally focused shareholder activists have expressed skepticism and are pushing for more details on their plans to cut their use of plastic.
In annual meetings over the past week, Coca-Cola, Pepsi and Kraft Heinz have stressed that they’re still working to lessen plastic pollution. Meanwhile, the beverage giants are navigating regulatory and economic constraints, including new tariffs, that could complicate their efforts. Coca-Cola, which recently dialed back ambitious plastic-reduction promises it made in recent years, said the issue is still a priority.
“While we may not have a formal goal specifically for refillables, they remain a key part of our strategy,” said James Quincey, Coca-Cola’s CEO, speaking at the company’s annual meeting on April 30 following an investor question seeking specifics about its packaging goals. Refillable or reusable packaging includes glass bottles that consumers can return.
But some activist investors say lowering sustainable packaging targets is a worrisome sign that beverage giants are backing off efforts needed to keep worldwide plastic waste from tripling by 2060.
Pressure has grown on Coca-Cola since it walked back its environmental goals. Photo: Lam Yik/Bloomberg News
Pressure has grown on Coca-Cola since December, when the company walked back its environmental goals. Some have criticized the company for quietly unwinding a commitment to make 25% of its products in reusable packaging by 2030. Another pledge, made several years ago, to use at least 50% recycled material in its packaging by 2030, was watered down to 35% to 40% of recycled material by 2035.
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