Industry collaborates to launch Asia's largest packaging waste management venture

Vimal Kedia, president, Packaging Association for Clean Environs (PACE)

To address the growing business of plastic waste in Republic of india, 31 leading companies in the industry have joined forces to launch Asia's largest, outset-of-its-kind, producer-led and -owned venture for creating a formal plastic circular economic system in the country. Together, the participating companies volition mobilize and converge assets, resources, and investment upwards of Rs k crore.

Ahmed El Sheikh, president of PepsiCo Bharat, T Krishnakumar, president of Coca-Cola Republic of india and western asia and Angelo George, primary executive officer of Bisleri launched the new producer-led venture 'Karo Sambhav – Endmost Material Loops,' to create an efficient value chain for collection of post-consumer packaging and optimize material recycling processes.

Some of the other companies that have committed to joining hands for this venture include Diageo, Parle Agro, Cavin Kare, Manjushree, Reliance Industries, SC Johnson, IVL-Dhunseri, Pearl Drinks, Varun Beverages Limited and Hindustan Coca-Cola Beverages Private Limited. Activity Brotherhood for Recycling Potable Cartons is besides supporting the venture.

The approach to setting upwards a new producer-led venture was developed and incubated by the Packaging Association for Clean Surround (PACE) for over a year with the objective of developing a transformative organization that enables inclusion, ethics, transparency, expert governance and traceability of waste matter.

Speaking on the occasion, Vimal Kedia, president, Step said, "This unique venture will focus on endmost the cloth loops for multiple types of packaging materials and shall bring together 60% of the plastics value chain in Republic of india. Information technology will bring convergence to multiple solutions being put past producers individually."

The venture plans to have a network of 125 textile recovery facilities across the state, which will work with 2500 aggregators over the next iii years. The project will be scaled up in phases and focus on alignment with the government's Swachh Bharat Mission and a nothing-waste movement, enabling utilization of secondary materials post recycling, ensuring that no recyclable packaging material ends up in landfills by 2025 and transforming the linear value chain of packaging material into a robust and efficient recyclable material circular economy.

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