Coca-Cola, Pepsi tout plastic recycling in rare joint appearance

DAVOS, Switzerland – The bosses of Coca-Cola and Pepsi promised Thursday that “huge progress” would be made by 2030 to reduce plastic waste, which contaminates humans, wildlife, and oceans.

Soft drink archrivals James Quincey and Ramon Laguarta participated in a panel on the plastic economy, a recurring theme at the World Economic Forum in Davos, alongside Dow Chemical boss Jim Fitterling and others.

News of the investigation comes as Nissan deals with the fallout from the shock November 19 arrest of its former chairman Carlos Ghosn, who remains in a Tokyo detention centre facing three charges of financial impropriety.

He faces two charges of under-stating his pay over the course of eight years, and a third related to an alleged scheme to transfer personal losses to the Japanese automaker’s books.

Nissan, which said it began investigating Ghosn after a whistleblower report, also faces charges over the alleged under-reporting of compensation.

Ghosn has denied any wrongdoing, but Nissan moved quickly after his arrest to remove him as chairman.

The Franco-Brazilian-Lebanese tycoon has also been removed from leadership posts at Mitsubishi Motors and Renault.

France’s President Emmanuel Macron on Sunday said he wanted to maintain “balance” in the alliance.

He also said he had told Japan’s Prime Minister Shinzo Abe he was “concerned” about Ghosn’s ongoing detention.

The tycoon has repeatedly sought release on bail to no avail, with the courts ruling he is a flight risk and could tamper with evidence if freed.