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Coke Launches $20M Water Conservation Project

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The Coca-Cola Co. announced Tuesday it is funding a $20 million project to conserve seven major rivers worldwide and also will revamp its bottling practices to reduce pollution and water use.

Under the program, Coca-Cola will try to make up for the 76 billion gallons of water it uses each year to make Coke, Sprite, Fanta and its other bottled drinks.

"Essentially the pledge is to return every, every drop we use back to nature," Coca-Cola Chief Executive Officer E. Neville Isdell said at a news conference. "If the communities around ... our bottling plants do not flourish and are not sustainable, our business will not be sustainable in the future."