Coke Threatens to Exit Containers for Change

0:00It's April 16th. This is Sydney News Today, powered by AI. Queen's lands LNP government rolled out proposed laws to shake up the containers for change refund scheme, but Coca-Cola Euro-Pacific partners is pushing back hard. In a submission to a parliamentary committee, they flagged practical challenges from the reforms, and hinted at reassessing their whole involvement in. The Tencent Bottle Return Program. The scheme launched back in 2018, run by non-profit COEX, which Coke and Lion founded. It charges beverage companies for every container they make, generating $2.5 billion in revenue so far, though less than 40%. Percent has gone back to Queenslanders as refunds. Last year's parliamentary inquiry dug up issues like conflicts of interest, unfair contracts, and bullying at COEX with 10 allegations sent to the Corruption Watchdog. Coke acknowledged the messy history, but complained they didn't get a fair shot to respond during the probe.

1:00Now, Coke, Lion, and COEX all warn the overhaul will jack up admin costs, which they'll pass straight to shoppers amid tough economic times. The government ruled out hiking the Tencent refund and hasn't directly addressed exit risks or price hikes. A committee sifting through submissions to toughen the scheme's governance, so we'll see if these are formed stick or if heavyweights like Coke bounce. Using Queensland's recycling push in limbo.