Skip to comments.Coca-Cola Warns Green Taxes Could Cut Its Profits By 50%
Posted on 12/12/2009 11:11:50 AM PST by blam
Coca-Cola Warns Green Taxes Could Cut Its Profits By 50%
Coca-Cola and Unilever have warned that their profits could halve over the next decade unless they reduce their emissions, as business leaders in Copenhagen called for a global fixed price on carbon dioxide.
By Rowena Mason
Published: 7:09PM GMT 11 Dec 2009
Coca-Cola announced that it would reduce the carbon footprint of its supply chains Photo: Reuters
The two companies acknowledged that green taxes and regulation would cause profits to fall 47pc by 2018 in the consumer goods sector if no effective action was taken.
Unilever and Coca-Cola both announced that they would reduce the carbon footprint of their supply chains at the Copenhagen Business Day, a conference running in parallel to the political summit.
However, the presence of Paul Polman, chief executive of Unilever, was overshadowed by Greenpeace's allegation that the company may have been buying palm oil from a supplier engaging in deforestation.
"The Greenpeace claims are of a nature that we can't ignore. Unilever is committed to sustainable sourcing. Therefore, we have notified [our supplier] that we have no choice but to suspend our future purchasing of palm oil," said Marc Engel, Unilever's chief procurement officer.
(Excerpt) Read more at telegraph.co.uk ...
Flat Coke? Yuck!
Pepsi is flat.
They purchase the palm oil and fractionate. The C12-C14 cut is used in detergent systems. I believe they sell the other cuts to the Witco company which was purchased by Akzo Chemie.
Unless they've got an economical green synthesis to C12-14, they'll have to get the cut from other aliphatic sources such as beef tallow (gasp), which historically was the primary source before the palm oil became available which was higher in C12-14 content than beef tallow and thus more economical and "greener".
the good news is- coke will pay a lot less taxes if it has less profits, won’t it?
Oh really? Couldnt happen to a nicer corporate sponsor of that “Hopenhagen” green website. Hey coke, cry me a river,,
Independent-minded and thinking wall streeters will recognize that this will not simply cause Coke stock to go down on Monday. The statism behind a 50% decrease in Coke profits applies to most companies and industries, affecting most stocks, unless the fascists goal of de-industrialization and socialization of the economy is stopped.
They’ll both be flat after the FDA bans the use of Carbon Dioxide in food and beverages because the EPA ruled it a “dangerous pollutant.”
Is it too late to change the Coke logo into something that will glorify The One?
Double the price, problem solved.
Then maybe Warren Buffet, a notorious lib and (hypocritically) owner of Coke, is reaping what he sowed. It is people like him who got Barack Obama elected.
Perrier has carbon dioxide too. So does beer and wine. But if we tax bubbly drinks, we can’t call it a flat tax.
Hey Coke... How’s that Hopehagen working out for you? Jackasses!
I stopped buying Coca Cola products when I heard it was hyping “Hopenhagen”.
Well duh, Coca Cola, what do you think they're trying to do?
You don't redistribute wealth and allow profits.
All you corporations that have gone along with this "progressive" agenda are now reaping what you sowed.
An appeaser is one who feeds a crocodile - hoping it will eat him last. - Winston Churchill
Coca Cola is in Granny’s portfolio. Obama and the gang want to rape your retirement.
LOL idiots apparently figured they would get a break if they firmly attached themselves to Obozo’s nether regions.
Serves them right, they get “in bed” with this guy (health care) and they’re gonna get “burned” ... he doesn’t have friends.
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