MANILA, Philippines, November 15, 2024 – Concepcion Industrial Corporation (CIC) has substantially exceeded the plastic waste diversion goals set out in the Philippines’ Extended Producer Responsibility (EPR) law, demonstrating its strong commitment to environmental sustainability. CIC successfully diverted 478,000 kilograms of rigid and flexible plastic from entering the environment in 2023, made possible through the company’s partnership with PCX Markets, a plastic credit marketplace that helps fund audited, traceable plastic waste recovery and responsible processing worldwide.
Passed in 2022, the Philippines’ EPR Act mandated corporations with assets of over Php100 million to recover and divert 20% of their plastic packaging footprint by the end of 2023, with targets increasing incrementally to 80% by 2028. These targets may be achieved through various strategies, such as reducing plastic packaging, using recyclable and reusable materials, and implementing plastic waste recovery and diversion programs, including purchasing plastic credits.
CIC exceeded the 2023 target, with all four of its subsidiaries demonstrating exceptional commitment. Concepcion-Carrier Air Conditioning Company Inc. diverted 110% of its plastic footprint in 2023; Cortex Technologies Corporation diverted 100%; Concepcion Durables Inc. diverted 90%; and Concepcion Midea Inc. diverted 45%.
“We are committed to sustainability and fully support the goals set out by the Department of Environment and Natural Resources in the EPR law,” said Raul Joseph A. Concepcion, Chairman & President of CIC. “We are proud to have gone well beyond the 2023 targets, and plan to hit 100% across the board in 2024. We realize that is the goal for 2028—but we want to get there right now. This is an urgent issue, and we want to play our part in diverting plastic waste from nature.”
Solidifying their sustainability efforts, CIC continues to encourage communities to practice plastic responsibility. The company purchased plastic credits that directly funded impactful plastic recovery and recycling projects in the Philippines. These projects included a facility that recycles plastic bottles into flakes for use in other products, expanding much-needed recycling capacity within the country.
Furthermore, CIC has provided livelihood opportunities for women in underserved communities through PCX project partner Aling Tindera, a “waste to cash” program that empowers women micro-entrepreneurs to buy and sell plastic waste in their communities. The Aling Tindera credits purchased by CIC subsidiaries helped divert 73,000 kilograms of plastic waste while providing Php182,500 in incremental revenue to the women and their communities in 2023.
Ultimately, this initiative highlights CIC’s proactive approach to environmental responsibility and its dedication to exceeding regulatory requirements. By partnering with PCX Markets and supporting impactful projects, CIC is demonstrating its commitment to creating a more sustainable future for the Philippines.
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About Concepcion Industrial Corporation
Concepcion Industrial Corporation (CIC) is the Philippines’ leading provider of quality and trusted home and enterprise solutions, committed to enhancing the lives of Filipino consumers and businesses nationwide. Operating through six dedicated subsidiaries, CIC’s portfolio includes a distinguished house of brands—Carrier, Condura, Toshiba, Midea, Otis, and Shark Ninja—each known for quality, reliability, and technological excellence. From advanced cooling systems and efficient home appliances to vertical transportation and cleaning solutions, CIC is dedicated to delivering high-performance, sustainable products that meet the evolving needs of the Philippine market. To know more, visit www.concepcion.ph
For media inquiries:
May Zamora-Cabajar
Head of Corporate Marketing & Communications
may.zamora-cabajar@cic.ph
(+63) 998 968 3558
About PCX Markets
PCX Markets is a fully transparent plastic credit marketplace for audited, traceable plastic waste recovery and responsible processing worldwide. Our marketplace activates an ecosystem of partners who collect, transport, and responsibly process plastic waste, while supporting communities on the ground with programs that improve livelihoods and scale social impact. PCX Markets has enabled the clean up of over 100 million kilograms of plastic waste worldwide. To learn more, visit us at www.pcxmarkets.com