According to a report published lately, some of the leading consumer goods companies, including Mars, PepsiCo PEP.O, and Nestle NESN.S, are mostly anticipated to miss a target of making plastic packaging more sustainable by 2025.
Recently, a study conducted by the United Nations Environment Programme and the Ellen MacArthur Foundation revealed that some companies like Coca-Cola KO. N and Pepsi are making use of more virgin plastic whilst opposing a pledge to reduce its usage.
Apparently, the report has surfaced since U.N. members are expected to meet this month in Uruguay to start negotiations related to the first-ever global plastic treaty, which aims at alleviating the choking marine life, soaring waste pollution, and food contamination.
Several U.N. members are encouraging a pact that comprises legally binding targets to use less petroleum-derived virgin plastic and increase the usage of recycled plastics in packaging. These rules would have financial implications for the petrochemical industries and consumer goods.
Greenpeace stated that this report demonstrates that the voluntary corporates have failed to meet the targets and called on the U.N. to enforce a treaty that forces the companies and governments to use less single-use plastic packaging.
Graham Forbes, Global Plastics Project Leader, Greenpeace USA, stated that this move emphasizes the growing need for governments to ensure that the global plastic treaty results in significant cuts in plastic production and use.
Graham further stated that anything less is a disservice to both the communities and the environment.
Upon being quizzed, Pepsi, Coca-Cola, Nestle and Mars refrained from responding to comments.
Notably, some major brands have also set targets in recent years to reduce the use of single-use packaging and plastic recycling with the Ellen MacAurthur Foundation for burnishing their green credentials.
As per the environmental group’s report, the headline pledge directs to make 100% plastic packaging recyclable, reusable or compostable by 2025.
However, this goal is slated to be missed by most organizations.
Source credit - https://www.nasdaq.com/articles/big-brands-set-to-miss-plastic-sustainability-targets
