Big brands set to miss plastic sustainability targets
Author: Joe Brock
Some of the world's biggest consumer goods companies, including PepsiCo (PEP.O), Mars and Nestle (NESN.S), are almost certain to miss a target to make plastic packaging more sustainable by 2025, according to a new report published on November 2, 2022. The study by the Ellen MacArthur Foundation and the United Nations Environment Programme also revealed that some companies - including Coca-Cola and Pepsi - are using more virgin plastic despite a pledge to reduce its use. Dozens of major brands have in recent years set targets to increase plastic recycling and reduce the use of single-use packaging in partnership with the Ellen MacAurthur Foundation, as part of efforts to burnish their green credentials.The headline pledge was that 100% of plastic packaging would be reusable, recyclable or compostable by 2025, but this goal will "almost certainly be missed by most organisations", the environmental group's report said. Nestle said these targets were hampered by a lack of government recycling infrastructure globally, noting that it had reduced the amount of virgin plastic it uses by 8% since 2018.