UK – Coca-Cola European Partners (CCEP) has announced a definitive supply agreement with Loop Industries, a leading technology innovator in sustainable plastic to source 100% recycled and sustainable PET plastic from a US based joint venture.
CCEP will purchase recycled Loop™ PET plastic (“Loop™ PET”) from Loop’s joint venture facility with Indorama Ventures Limited in the United States to authorized Coca-Cola bottlers.
The partnership will see Loop supply the recyclable materials to authorized members of the Coca-Cola system’s Cross Enterprise Procurement Group (CEPG) through the multi-year supply agreement.
“We are very proud to become a supplier of Loop branded PET resin to the members of the Coca-Cola system’s Cross Enterprise Procurement Group,” said Daniel Solomita, Founder and CEO of Loop Industries.
“We are especially pleased to be able to assist Coca-Cola’s authorized bottlers as they work to meet their recycled content ambitions.”
“Like all responsible companies, we need to be selective in choosing our packaging materials so that we continue to eliminate waste and work to reduce the environmental impact,” said Ron Lewis, Chief Supply Chain Officer, Coca-Cola European Partners, a bottler member of CEPG.
“Investments like this one with Loop Industries support our goal to ensure that at least 50% of the material we use for our PET bottles comes from recycled plastic, and will help us divert more materials from landfills and build a stronger circular plastic economy.”
This builds on the majors’ commitment to reduce global plastic waste and meet their sustainability goals.
CCEP aims to move to 40% recycled PET this year as part of the development to transitioning the whole PET portfolio to 50% rPET.
In November 2017, Coca-Cola and CCEP partners launched a wider Sustainability Action Plan in line with their packaging strategy for the whole of Western Europe.
They also set a vision for a Deposit Return Scheme (DRS), with 11 principles based on discussions with suppliers and customers, industry and recyclers.
CCEP and Coca-Cola Great Britain are some of the founding members of WRAP’S UK Plastic Pact, a collaborative initiative that seeks to create a circular economy for plastics by bringing together businesses from across the entire plastics value chain, UK government and NGOs.