Coca Cola invests P1 billion for Philippine recycling plant

MANILA, Philippines — Coca Cola Beverages Philippines Inc. (CCBPI) is investing P1 billion in a recycling facility to turn plastic bottles into new ones.

In a statement, CCBPI, Coca Cola’s bottling arm, said the investment is the first to be made by the company for a recycling facility in Southeast Asia.

Details on the location of the recycling facility were not available as of press time.

CCBPI is in discussions with potential partners including a local firm, and an internationally-recognized green technology company for the facility.

Utilizing the circular economy concept, the recycling facility will be collecting, sorting, cleaning and washing post-consumer PET (polyethylene terephthalate) plastic bottles and turning them into new ones.

“Coca-Cola has called the Philippines its home for 107 years and counting, and we want to do our part in ensuring sustainability within its shores,” CCBPI president and chief executive officer Gareth McGeown said.

“Our Coca-Cola bottles and cans are 100 percent recyclable and have value as a recycled material. Our aspiration with this facility is to close the loop on our packaging by helping turn old bottles into new ones. This facility is testament to our resolve in making our World Without Waste vision a reality across the country, with real positive impact not just across our value chain, but also in the communities where we belong,” he said.

CCBPI’s recycling facility is expected to help improve PET collection and recycling rates in the country.

In addition, it is seen to create more jobs in the waste materials value chain, which includes the picking and collection of bottles.

The investment forms part of Coca Cola’s global commitment to collect and recycle every bottle and can it sells by 2030 in line with its goal to have a “World Without Waste.”

“World Without Waste is an important and very ambitious goal and we are confident that by working together with our partners, we can deliver on our commitments here in the Philippines. The bottle-to-bottle closed loop investment that we are announcing today is a model for how we want to grow sustainably and responsibly.

We recognize that there is a packaging waste problem in the world today and this investment is one of the ways we are stepping up to be part of the solution for the long-haul,” McGeown said.