Welp, don’t say we didn’t warn you.
In what has been one of many biggest backslides within the comparatively brief historical past of company sustainability targets, throughout an earnings name with traders, Coca-Cola CEO James Quincey mentioned that the model will seemingly need to promote extra drinks in plastic bottles, citing the newly imposed 25% tariff on metal imports that may go into impact on March twelfth, courtesy of President Trump. The pivot comes after Coca-Cola “advanced” its sustainability targets, pushing them out to 2035 and counting on much less recycled supplies for his or her packaging.
“Because it pertains to our methods round making certain affordability and making certain client demand, if one bundle suffers some enhance in enter prices, we proceed to produce other packaging choices that may permit us to compete within the affordability area,” Quincey mentioned on the investor name.
