Nestle will invest $ 30 million in the disposal and recycling of plastic waste

News

Nestle will invest $ 30 million in the disposal and recycling of plastic waste

14.09.2020 News

This year the company Nestle has established a venture fund package for $ 260 million, but it is just a part of a wider initiative of $ 2.1 billion for abandonment of primary plastic.

Two years ago, Nestle that will make all its packaging suitable for recycling or re-use and intends to reduce the use of primary plastic by one third to 2025.

For example, in 2018 Nestle has used 1.7 million metric tons of the plastic packaging. Currently, the company consumes an average of only 2% of recycled plastic worldwide. In general, slightly more is used for underwater bottles that contain 5% of the recycled plastic.

Nestle intends to use the investment in Closed Loop, to ensure the supply of environmentally friendly packaging, as the demand for recycled plastics for food increases.

The fund of the Closed Loop Partners aims to increase the level of recycling of the plastic waste in the United States by 25% in areas served by the companies included in the portfolio.

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