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[GreenYes] Shareholders to pursue Pepsi recycling issue
Comment: A shareholder resolution filed with Coca-Cola Co.
on Nov. 2nd also asked for an 80% recovery plan for all
containers and 25% recycled content in plastic bottles,
but acknowledged progress and good faith efforts made
by Coke (unlike Pepsi).    /Bill S.

SHAREHOLDERS TO PURSUE PEPSI RECYCLING ISSUE

By Steve Toloken
PLASTICS NEWS STAFF

PURCHASE, N.Y. (Nov. 21, 12:20 p.m. EST) -- PepsiCo Inc.
shareholders again are planning to ask the company to
improve its environmental efforts by using recycled content in
its soft drink containers and by working to boost beverage
container recycling substantially.

The shareholders — all funds that tout themselves as socially
responsible, including Walden Asset Management in Boston
— said Nov. 20 that they planned to file a shareholder
resolution by Pepsi´s Nov. 23 deadline. That will allow the
issue to be on the ballot at Pepsi´s spring 2002 annual
meeting.

Last year, Pepsi failed to convince the Securities and
Exchange Commission to remove the resolution from the
ballot. This year, the shareholders noted that rival Coca-Cola
Co. uses 25 percent recycled content in its PET containers in
several countries and 10 percent content in three of four of its
bottles in North America. Except for Pepsi´s recently
acquired Gatorade brand, the company´s plastic beverage
containers in the United States do not have recycled content,
the shareholders said.

Pepsi “should avoid a competitive disadvantage on
environmental concerns,” the shareholders said in a copy of
the resolution provided to Plastics News.

The shareholders also said that “Pepsi has lobbied actively
against container-deposit systems (i.e. bottle-bill legislation)
that are the only proven method to increase recovery
significantly.”

Officials from Pepsi, which is based in Purchase, declined to
comment, saying they had not seen the resolution.

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