Coke stock edges up after recycling pledge

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Coca-Cola Amatil has responded quickly to the federal government’s new recycling targets, pledging to make its packaging 100 per cent recyclable within the next decade.

The beverages giant has pledged to convert all packaging including bottles, cans, glass, cardboard and plastic wrapping to recyclable materials by 2025.

It will also phase out single-use packaging by improving design or using recycled materials.

The commitment follows new national targets requiring 70 per cent of plastic packaging to be recycled or compostable, and 30 per cent of packaging to be made of recyclables.

Coca-Cola Amatil’s managing director Alison Watkins says they’ve heard the community’s message “loud and clear” that unnecessary packaging is unacceptable.

“We all need to work together to reduce the amount entering litter streams, the environment and the oceans,” she said in a statement Wednesday.

Australia produces 64 million tonnes of waste a year and recycles 35 million tonnes locally.

Four million tonnes of waste was previously also sent overseas, 1.3 million of which went to China before its decision earlier this year to ban imported waste.

Shares in Coca-Cola Amatil were up 4.5 cents, or 0.47 per cent, to $9.575 at 1410 AEST.

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