LONDON: A return scheme for plastic bottles could soon allow British consumers to enjoy a drink of juice or water without adding to a sea of pollution — as well as getting some of their money back.
The idea of a deposit return scheme (DRS) for bottles has won the backing of two supermarkets, Iceland and the Co-op, the first major retailers to support the policy to promote recycling and tackle ocean plastic pollution.
“Introducing a DRS may well add to our costs of doing business. However, we believe it is a small price to pay for the long-term sustainability of this planet,” said Richard Walker, director for sustainability at Iceland Foods, in a statement.
“I urge all other retailers to do the right thing and follow suit.”
A deposit return scheme involves consumers paying a small deposit that is refunded when they return empty plastic bottles and is common in many parts of the world including Denmark, Germany and Australia.
From fishing lines to flip flops, there are more than 5 trillion pieces of plastic floating in the world’s oceans, according to a 2014 study.
As concern grows about vast floating fields of plastic debris, environmental groups are lobbying the government and retailers to take action to catch up with other countries on cutting plastic littering and marine pollution.
“We hope that other supermarkets will see the way the wind is blowing on this issue ... and follow Iceland and the Co-op in recognizing that our oceans should not be our rubbish bin,” said Tisha Brown of Greenpeace UK.
In London, consumers expressed support for a bottle deposit scheme.
“Not only would I benefit financially, albeit minutely, it would make the process of recycling simpler and easier,” 30-year-old train driver Ahmed said on WhatsApp.
Such a move would follow Britain’s decision in 2015 to charge 5 pence for plastic carrier bags, legislation that slashed usage and has taken about 9 billion plastic bags out of circulation.
“I think (a deposit scheme) would be a good incentive,” said Sahar Eljack, 26, adding that small local shops not just large supermarket chains should take part. Britain recycled just over half of the bottles that were sold in 2016, well behind the rates achieved in Denmark and South Australia where deposit return schemes boosted rates to as high as 90 percent.
France has banned plastic shopping bags, adding disposable plastic cups and plates from 2020 while Kenya will soon bring in a ban on household and commercial plastic packaging after a successful grassroots social media campaign.
Scotland has already committed to introducing a deposit return scheme.
“We’re pleased to learn that Iceland and the Co-op recognize the big part that a deposit return scheme could play in reducing litter on our high streets, in the countryside and in our seas,” a spokeswoman for Zero Waste Scotland charged with designing Scotland’s deposit scheme, told the Thomson Reuters Foundation.
The rest of the UK has yet to commit to such a scheme although in April the government established a working group to formulate a national litter strategy and look at different voluntary and regulatory options to improve recycling.
“We recognize there is more to do in this area, and we will be working with industry to explore how we can reduce the amount of single-use plastic waste as part of our resource and waste strategy,” a spokesman for the Department for Environment, Food and Rural Affairs told the Thomson Reuters Foundation.
Britain’s Environment Minister Michael Gove tweeted last month that he was “haunted” by British naturalist David Attenborough’s “Blue Planet II” TV series which highlighted plastic waste in oceans and said he would take action.
And finance minister Philip Hammond said the government will look into ways to reduce plastic waste through the tax system and charges on single-use plastic items during his budget speech to parliament in November.
But such moves may face resistance from the plastic industry. The British Plastics Federation said deposit schemes may not be popular with consumers and could “undermine the existing kerbside system” whereby waste bins are regularly collected from streets outside homes and businesses.
But Iceland, a frozen food chain, said there is no time to lose and has offered to trial “reverse vending machines” in British stores to make returning bottles easier for customers.
“This cannot carry on. It is causing untold damage to our oceans and wildlife,” said Iceland’s Walker.
“It is a ticking time bomb for humanity, since we all ultimately depend on a healthy ocean environment for our own survival.”
— REUTERS
Drop in the ocean? British supermarkets look to bottle deposits to cut pollution
Drop in the ocean? British supermarkets look to bottle deposits to cut pollution
The Family Office to host global investment summit in Saudi Arabia
RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.
The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.
The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.
Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.
Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.
The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.
The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.
With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.
The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.









