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Last month, the government introduced new legislation aimed at enhancing the governance of a specific scheme, following a parliamentary inquiry that uncovered accusations of conflicts of interest, unfair contractual practices, misleading conduct, and instances of bullying.
In a formal response, a multinational beverage corporation criticized the proposed legislation, suggesting that it exceeds what would be considered reasonable regulatory oversight.
The company warned that the proposed changes could potentially heighten governance risks and erode confidence within the industry.
They further expressed concerns that these amendments could present significant practical challenges for Coca-Cola Europacific Partners (CCEP) in maintaining their role in the governance of COEX and might compel them to reevaluate their involvement.
COEX, a non-profit organization overseen by CCEP as a founding member, is tasked with the administration of this scheme.
The inquiry had found that COEX had invested “comparatively little” of its own funds into community or environmental initiatives and did not have a “transparent plan” to do so.
“While the scheme has generated more than $2.5 billion in revenue since inception, less than 40 per cent has been returned to Queenslanders through refunds, and less than 2 per cent has gone directly to charities.”
It argued COEX does not have a ”transparent plan for reinvestment in environmental or charitable programs”.
The inquiry also made referrals to the state’s Crime and Corruption Commission.
Environment minister Andrew Powell said anyone could share their views as part of the committee process.
“We have introduced legislation to strengthen the scheme’s governance after a scathing report exposed its serious failures under the former Labor government,” Powell said in a statement.
“A parliamentary committee is looking at proposed changes to strengthen the container refund scheme, and anyone can share their views as part of this process.”
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