The Coca-Cola Foundation has invested $1 million into a new initiative to spark local economies and contribute to a future less burdened by plastic waste.
As detailed by Packaging Gateway, TCCF teamed up with the Global Environment and Technology Foundation to launch the Partnership for a Circular Tomorrow, or PACT, which looks to strengthen recycling systems across the Middle East and Eurasia.
PACT will distribute grants from $100,000 to $400,000 to startups, nongovernmental organizations, social enterprises, and other entities developing circular solutions to reduce harms associated with plastics and resource overconsumption, such as biodiversity loss, which can increase the risk of disease spread.
This year, PACT introduced Phase 1 of "high-impact initiatives" in Azerbaijan, Kazakhstan, the Kingdom of Saudi Arabia, Türkiye, and Uzbekistan, according to GETF, with improved recycling collection points, optimized supply chains, and consumer educational programs on slate.
Plastics are usually derived from dirty fuels and don't easily break down. What's more, many types can't be recycled, which is why ditching single-use plastics is ideal, with the nonprofit Greenpeace warning that recycling isn't an end-all, be-all waste management solution.
Recently, Coca-Cola was sued by the Virgin Islands government, which alleged that it misled consumers about the recyclability of its plastic bottles. As it stands, the beverage giant regularly tops the list of the world's worst plastic polluters.
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While there doesn't appear to be a direct link between the lawsuit and the PACT fund, TCCF's collaboration with GETF is another positive example of an eco-friendly initiative from the beverage giant, which could help mitigate the company's environmental impact.
Coca-Cola has also rolled out fiber-based packaging, among other things, at select facilities.
"We're excited to launch PACT with our partners to drive circular innovation and improve waste recovery in Eurasia and the Middle East," said Carlos Pagoaga, president of TCCF, Coca-Cola's philanthropic arm.
"Our goal is to create robust value chains, support informal waste workers, and drive innovations in waste management, ultimately paving the way for a cleaner, more sustainable future," Pagoaga added.
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