Alcoa Foundation, a corporate foundation of aluminum giant
), and U.S.-based non-profit organization "Keep America Beautiful"
have teamed up to augment the recycling rate in the U.S. The
partnership announced the launch of "Action to Accelerate
Recycling" program at the Clinton Globe Initiative (CGI) Annual
Meeting to create awareness and also provide recycling
infrastructure to increase recycling of aluminum, plastic, glass
and paper in the U.S.
The "Action to Accelerate Recycling" initiative will include
recycling programs to educate and activate people of all ages, and
help in expanding the infrastructure for recycling. It includes
various incentives by Alcoa and Alcoa Foundation. Some of them are:
Pass the Can - Under this initiative, Alcoa introduced a new
application (app) by Facebook Inc. (FB) that educates people about
aluminum recycling in a fun way and encourages them to act and
spread the awareness among friends through the social network. For
every virtual can passed through this Facebook app, Alcoa
Foundation will donate $1 (up to $75,000) to "Keep America
Beautiful". International Union for Conservation of Nature (IUCN)
and Planet Ark are also involved in this to fund recycling programs
around the world.
The Alcoa foundation has plans to reach 50 college campuses around
the world. The foundation has also tied up with DoSomething.org,
which is the largest youth-led aluminum recycling drive in the U.S.
It is also working with the Ohio State University, University of
Tennessee, Purdue University and Clemson University to develop
innovative recycling programs that encourage fans to recycle in
parking lots during football season.
Pennsylvania Resources Council - The program will educate
consumers about the recyclability of pet food cans and create a
model for collecting cans that can be easily replicated.
On the other hand, "Keep America Beautiful" has taken a pledge
to increase the recycling of aluminum, paper, plastic and glass in
the workplace by 10% through a variety of programs. The
organization aims to reach 200 million people via multi media
campaigns. It is seeking to provide access to recycling and develop
best practices in 4-6 underserved public venues with funding from
Alcoa and Alcoa Foundation have committed to fund the project
and have already spent $2 million to engage millions of Americans
and increase the current U.S. recycling rate by 10 percentage
points. Alcoa primarily intends to increase the recycling rate of
aluminum beverage cans in the U.S. to 75% by 2015 and help create
sustainable and prosperous communities across the country.
Alcoa is a leading producer of primary and fabricated aluminum
as well as the world's largest miner of bauxite and refiner of
alumina. The company competes with
Aluminum Corporation of China Limited
). The stock maintains a Zacks #4 Rank, which translates into a
short-term (1 to 3 months) Sell rating. Currently, we have a
long-term Neutral recommendation on Alcoa's shares.
ALCOA INC (AA): Free Stock Analysis Report
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