The fund’s eight investors include The Coca-Cola Company, PepsiCo, Procter and Gamble, Unilever, Dow, Danone and Chevron Phillips Chemical.
Vice president of communications, public affairs and sustainability of Coca-Cola Asia-Pacific Matt Echols denied that there was a conflict of interest for the investors, who are among the largest producers of plastic in the world, instead adding that it was “the opposite”. He also stressed that Coca-Cola has committed to making 50 per cent of its packaging from recycled materials by 2030.
“Our first few, most of them look like your basic fundamental waste and recycling companies. We’re helping bring in new technology and capacity from other markets and bringing proven technology here to recycle plastic that currently gets into the environment and instead put it into the value chains of large corporations,” he said.The fund is looking to invest in 20 to 30 companies across the region in the next three to four years, he added.
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