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The Coca Cola Co's CEO has admitted his company must do more to assist in the collection and re-use of bottles used in its products.

CEO James Quincey told shareholders The Coca-Cola Co will focus more on reusing its packaging

CEO James Quincey told shareholders The Coca-Cola Co will focus more on reusing its packaging

Speaking to shareholders yesterday following Monday's Q1 results announcement, James Quincey said there needs to be increased focus on collecting PET bottles for recycling purposes. He also added that eliminating single-use packaging entirely is the ultimate goal, by creating a "circular economy" of plastic usage.

"About 60% of our packages are collected or refilled, so there's another 40% to go," Quincey said. "The technology to reuse recycled plastic glass or aluminium absolutely exists today ... The fundamental gap is in collecting the bottles, and we absolutely need to see this driven up."

To achieve this aim in the US, Quincey explained that the company has joined the Plastic Pact, a nationwide recycling initiative. The CEO also noted that Coca-Cola's refillable products currently make up around 50% of sales in over 20 of its global markets.

Yesterday, the company confirmed it would hand its bottler unit in Africa an IPO within the next 18 months.

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Expert Analysis

Carbonated Soft Drinks Global Group of Eight (G8) Industry Guide 2015-2024

Carbonated Soft Drinks Global Group of Eight (G8) Industry Guide 2015-2024

The G8 Carbonated Soft Drinks industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2015-19, and forecast to 2024).

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