Sweeping restrictions on single use plastic bottles could have a far reaching impact on the way companies sell water and other beverages.
Under pressure from an upcoming likely ban on single use plastic, Coca-Cola India, PepsiCo and Bisleri on Thursday announced the setting up of a packaging waste management entity, aimed at what they said would create an efficient value chain for collection of plastic waste and optimize recycling processes.
All three companies extensively sell packaged water in PET bottles, which they say is almost entirely recycled.
Developed by industry body Packaging Association for Clean Environment (PACE), the entity which goes by the name Karo Sambhav, also includes other consumer goods companies such as Parle Agro, SC Johnson, Reliance Industries, Varun Beverages, Diageo and Manjushree.
Representatives of PACE said the participating companies will infuse investments upwards of Rs 1,000 crore on mobilizing and converging assets and resources for plastic waste management.
Reference- Economic Times, livemint, PACE PR