A new imperative by Coca-Cola's (NYSE: KO) CEO E. Neville Isdell should please the green crowd. Coke has pledged to recycle 100% of its plastic bottling and much of its cardboard. This recycling effort centers on a new $60-million plant that will recycle enough plastic each year for around two billion 20-ounce bottles. Is Coke going green? Doubtful. Coke's raw materials and packaging costs rose over 22% in the last quarter. This is a cost-cutting maneuver elegantly disguised as a go-green campaign. What does Coke do with the recycled materials? They turn them into T-shirts and jewelry and hawk them on the Internet. This redefines the phrase "cheap plastic crap." You have to admire the creativity.