Davao del Sur, for instance, has officially integrated "Tapon to Ipon" into its solid waste management plans, resulting in the hauling of approximately 20MT of PET bottle stockpiles across the province. Closing the loop towards a fully circular economy, collected PET bottles are brought to PETValue Philippines, Coca-Cola's bottle-to-bottle recycling facility and a joint venture with Indorama Ventures, a global sustainable chemical company. PETValue, the first bottle-to-bottle recycling facility in the Philippines, has been in operation since Q4 2022 and has the capacity to process approximately two billion post-consumer PET bottles annually. Because of this initiative, Coca-Cola Beverages Philippines, Inc. won the ESG Initiative of the Year - Philippines at the recently concluded FMCG Asia Awards.