NEW DELHI: Godrej Group flagship firm Godrej & Boyce on Friday said it has joined as a founding member of the 'India Plastics Pact' -- a joint initiative by CII and WWF India.
The pact has been established with the goal of envisioning a world where plastic is valued and does not pollute the environment, the company said in a statement.
"It aims to achieve this by promoting a circular economy for plastics through a public-private collaboration that enables innovative ways to eliminate, reuse, or recycle the plastic packaging across the plastics value chain and collectively achieve the long-term targets," it added.
Godrej & Boyce said its joining of the pact is aimed to strengthen the commitment of corporate India towards combating the growing environmental concern about plastic pollution.
Commenting on the pact, Godrej & Boyce Chairman and Managing Director Jamshyd N Godrej said, "Innovation, collaboration and voluntary commitments contextualised for India and led by Indian companies will help the transition to a circular economy for plastics. The Plastics Pact model offers this solution."
The former CII president further said, "While this pact is already active in a number of other countries, I commend CII and WWF India for bringing this initiative to India."
Godrej & Boyce said as part of its ongoing sustainability efforts, the company has been recycling plastic equivalent to the packaging quantity due to the sale of its products since 2018, and now, recycles more than 100 per cent equivalent of the packaging plastic.
Moving forward, the company plans to offset the equivalent amount in the types of packaging plastics put in the market, through its various partners, it added.
"By 2030 the company also plans on systematically phasing out the use of thermocol and introducing recycled content up to 25 per cent in its plastic product packaging and is investing in R&D toward the same," the statement said.
The India Plastics Pact aims to bring together businesses, governments, researchers, NGOs, and other stakeholders across the whole value chain to set time-bound target-based commitments to transform the current linear plastics system into a circular plastics economy, it added.