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Coca-Cola modifies bottles to tackle plastic waste pollution

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In an effort to combat the environmental impact of plastic bottle waste pollution, the Coca-Cola System in Nigeria has announced a redesign of its bottle products. The Director of Public Affairs, Communications, and Sustainability at Coca-Cola Nigeria, Nwamaka Onyemelukwe, revealed this during the Annual System Beach Cleanup event held in Lagos, as stated in a company press release.

Onyemelukwe emphasized that the modification of the bottle design was prompted by the adverse effects caused by plastic bottles when they are not properly recycled and disposed of. She explained, “The previous Coke bottle container was so thick that people found various uses for it. However, we have taken action by introducing lighter plastic.”

The purpose behind using lighter plastic is to allow users to easily compress the bottle with their hands after consumption. This reduces the amount of space it occupies, facilitating recycling efforts.

Coca-Cola Nigeria is committed to ensuring that its packaging materials are responsibly managed and do not contribute to environmental issues. Onyemelukwe stated, “We want to prevent our packaging materials from ending up in the environment and becoming a nuisance. While it is true that our beverages are often associated with high pollution rates, we are taking steps to address this issue.”

By implementing a lighter plastic bottle design, Coca-Cola Nigeria aims to minimize its environmental footprint and encourage sustainable practices among consumers.

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Business

FG Unveils Incentives to Boost Foreign Direct Investments

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– FG offers incentives to attract foreign direct investments
– Incentives include tax breaks, duty waivers, and deferred payments
– NEPZA aims to create a favourable business environment

The Federal Government has announced plans to attract foreign direct investments by offering incentives to businesses operating in Nigeria.

These incentives include customs duty waivers, tax breaks, and deferred payments to alleviate financial burdens.

The Managing Director of Nigeria Export Processing Zones Authority, Olufemi Ogunyemi, stated that the move is in response to challenges posed by foreign exchange constraints and unreliable power supply.

He noted that the incentives aim to reduce production costs and encourage companies to maintain their operations within Nigeria.

Ogunyemi emphasized the importance of corporate social responsibility, requiring investors to contribute to societal development through CSR initiatives.

He believes that economic growth should be coupled with sustainable community impact.

The incentives are expected to support existing businesses and attract new ventures looking to establish and expand their operations in Nigeria.

By providing a favourable business environment, NEPZA aims to drive economic growth and development.

 

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SEC Urges Capital Market Stakeholders To Embrace Innovation For Sustainable Growth

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SEC DG.
– SEC urges capital market operators to embrace innovation
– Regulatory Incubation programme to support fintech businesses
– Risk management frameworks essential for market stability

The Securities and Exchange Commission (SEC) has emphasized the importance of innovation in driving sustainable growth and development in the capital market.

According to the Director General, Emomotimi Agama, innovation is crucial for efficiency, transparency, and resilience in the market.

Agama stressed that the SEC is committed to supporting innovation and growth through its Regulatory Incubation programme, which allows fintech businesses to operate within a controlled regulatory environment.

This programme aims to ensure investor protection and market stability while fostering financial technology advancements.

The SEC’s efforts are guided by the Revised Capital Market Master Plan (CMMP 2021-2025), which prioritizes technology and innovation to expand the depth and breadth of the Nigerian capital market.

Agama warned stakeholders about associated risks, such as cybersecurity threats and regulatory complexities, and emphasized the need for robust risk management frameworks.

“In its efforts to support innovation and growth in the market, the SEC has established a programme of assessment called Regulatory Incubation to help new fintech businesses,” Agama said.

The SEC will ensure appropriate safeguards are in place to protect investors and maintain market stability.

 

 

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