Coca-Cola has indicated it could walk away from the Containers for Change scheme in Queensland, after the government proposed an overhaul.

The government introduced legislation to strengthen the governance of the scheme last month after a parliamentary inquiry heard allegations of conflicts of interest, unfair contracts, misleading conduct, and bullying.

In a submission to the government, the multi-national beverage company argued the legislation goes “well beyond reasonable oversight”.

Coca-Cola could walk away from the Containers for Change 10c refund program in Queensland, if new legislation is passed to give the government more oversight. (Getty)

It said the amendments will “increase governance risk and reduce industry confidence”.

“Further, it will create real, practical challenges for CCEP’s (Coca-Cola Europacific Partners) continued participation in COEX’s governance and may necessitate a reassessment of our involvement.”

COEX is the non-profit responsible for administering the scheme, of which CCEP is a founding member.

The inquiry had found that COEX had invested “comparatively little” of its own funds into community or environmental initiatives and did not have a “transparent plan” to do so.

“While the scheme has generated more than $2.5 billion in revenue since inception, less than 40 per cent has been returned to Queenslanders through refunds, and less than 2 per cent has gone directly to charities.”

It argued COEX does not have a ”transparent plan for reinvestment in environmental or charitable programs”.

The inquiry also made referrals to the state’s Crime and Corruption Commission.

Environment minister Andrew Powell said anyone could share their views as part of the committee process.

“We have introduced legislation to strengthen the scheme’s governance after a scathing report exposed its serious failures under the former Labor government,” Powell said in a statement.

“A parliamentary committee is looking at proposed changes to strengthen the container refund scheme, and anyone can share their views as part of this process.”

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