Share-Owner Proposal that the Company Report on Beverage Container Recycling Goals (Item 4)[page 39]
Statement Against Share-Owner Proposal that the Company Report Beverage Container Recycling Goals
As never before, the Coca-Cola system is working to improve our environmental performance in the marketplace and in every community where we do business.
On the issue of recycling,because
of a number of initiatives we have undertaken in North America and the
progress we are making, we are conÑdent that our current approach
is one that makes the most sense for our business and is consistent with
our core business objectives.
Among the initiatives we have undertaken in the past year are the following:
Challenging our North America system to an aggressive action plan on recycling and to quantitative targets for our use of recycled plastic in our PET bottles;and,as a result,
Achieving a level of usage of recycled plastic in our PET bottles equivalent to 3 out of 4 bottles containing recycled plastic,one full year ahead of schedule;
Continuing to provide
leadership and support to suppliers and technology developers on additional
ways to use recycled plastic in our packaging;
Engaging with a variety
of constituents,including share owners and environmental groups,in an
effort to better understand existing recycling infrastructure and leverage
our contacts in the recycling community to make real progress on the issue;
Beginning a new internal
process of evaluating and re-evaluating any and all programs for increasing
recovery and recycling rates for our packages;and,
Formalizing our research
and development program aimed at exploring "ecoeffective" options
for our packaging Ìlooking both at material use options and other
ways to design our packaging in a more environmentally-conscious way.
At Coca-Cola,we believe the best environment for our success is the best possible environment. That belief,and our core operating principles,guide us as we devote our resources to conducting our business in ways that protect,preserve and enhance the environment.
We believe this proposal,however well intentioned,is not in the best interest of our business.
Board of Directors recommends a vote AGAINST the proposal that the Company
Report on Beverage Container Recycling Goals.