Waste is a two-sided problem in the consumer goods industry. On one side some products are disposed of for multiple reasons and on the other side, the waste is generated through packaging. There has been an increasing amount of single-use plastic and waste produced by FMCG companies.
Companies need to be more mindful of the waste generated throughout their value chain. Companies like Procter & Gamble and Dabur India recently announced that they have achieved 'plastic waste neutrality’ by recycling a big chunk of their post-consumer plastic packaging waste. To be environmentally sustainable and increase consumer awareness, companies have been under pressure to manage waste. Being responsible for the environment helps companies attract new customers as consumers prefer to do business with companies that share their values.
ITC Ltd (ITC) operates a diversified conglomerate business. The company is involved in the business of fast-moving consumer goods, hotels, paperboards, specialty papers, packaging, agri-business, and information technology.
The waste generated by ITC in FY2022 was 726 thousand tonnes, an increase of 6.1% from FY2021. In the same year the company recycled 725 thousand tonnes of waste which was 99.7% of the waste generated.
About 3% of the waste (by weight) generated by ITC can be categorized as hazardous waste. It generated 20.03 thousand tonnes of hazardous waste in FY2022, of which it recycled 19.44 thousand tonnes which is around 97% of the hazardous waste generated.
The company has set a 2028 target of 100% of the packaging to be reusable, recyclable, or compostable/biodegradable. It is also actively working to increase the collection and recycling rates for MultiLayered Plastic (MLP) packaging waste by implementing replicable, scalable, and sustainable models of solid waste management.
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