Şişecam Becomes the Sole Shareholder of Şişecam Çevre Sistemleri
Şişecam, a global player in the glass industry, has become the sole shareholder of Şişecam Çevre Sistemleri, a company that has been instrumental in institutionalizing Türkiye’s glass waste collection and recycling industry. Şişecam exercised its purchase option from the European Bank for Reconstruction and Development (EBRD) for its 10% stake in Şişecam Çevre Sistemleri, which was founded by Şişecam and EBRD in 2016.
Ecosystem Financing and the Institutionalization of the Glass Recycling Industry
Şişecam Çevre Sistemleri was founded under a partnership between Şişecam and EBRD with the goal of supporting the institutionalization of Türkiye’s glass waste collection and recycling industry. The joint venture company aimed to establish modern facilities that could produce higher quality cullet. Through ecosystem financing, Şişecam Çevre Sistemleri mediated glass recycling companies in Türkiye to invest in infrastructure and establish state-of-the-art facilities. Şişecam also played an active and pioneering role in the production of quality cullet by establishing its own licensed facility.
Şişecam’s Sustainability and Social Responsibility Efforts
As a leading player in the glass industry, Şişecam has been conducting glass recycling activities and realizing major circular economy projects for many years. These various efforts are closely aligned with Şişecam’s concrete goals under its CareforNext Sustainability Strategy. Operating production facilities in 14 countries on four continents, Şişecam aims to boost the rate of external glass cullet used in its glass packaging production to 35% by 2030. The use of cullet from recycling waste glass reduces carbon emissions caused by a bottle throughout its entire life cycle by more than 50%, depending on the rate of the cullet used.
Since 2011, Şişecam has been implementing one of Türkiye’s most comprehensive sustainability and social responsibility projects with its “Glass and Glass Again” project. With the aim of creating a societal behavior change and supporting the transition to recycling, Şişecam has played an active role in the recycling of 2 million tons of glass cullet through Glass and Glass Again. Through sustainability-focused projects and investments, Şişecam aims to extend the benefits of glass recycling to the countries in which it operates. With its broad global presence, Şişecam plans to increase its positive impact in this field.
The Potential of Glass Recycling for a Sustainable Future
Glass is a highly valuable material for a sustainable future with its 5,000-year history. It offers the most attractive solutions for the needs of the planet with its 100% and infinite recyclability without losing any of its quality. The recycling of glass also promises great future potential. While this potential is expected to gain momentum with the introduction of the deposit refund system in Türkiye, new investments are projected to accelerate in the industry. As the sole owner of Şişecam Çevre Sistemleri, Şişecam will further support its ecosystem while leading the development and growth of the recycling industry with new investments in its facilities.
Source: Şişecam with additional information added by Apazone