Nestle is planning to invest over $2 billion in food-grade recycled plastics | GBRI
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Nestle

Taking an important step towards achieving its 2018 commitment to make all of its packaging recyclable or reusable by 2025, Nestle is planning to invest a whopping $2.07 billion to boost new sustainable packaging solutions and create a stronger market for food-grade recycled plastics.

Nestle expects to reduce the use of virgin plastics by one third during that same period while collaborating with others on advancing the circular economy — and cleaning plastic waste from oceans, lakes, and rivers.

“Most plastics are difficult to recycle for food packaging, leading to a limited supply of food-grade recycled plastics,” the company said. In response, Nestle committed to sourcing as many as 2 million metric tons of food-grade recycled plastics, and allocated more than $1.55 billion to pay a premium for those materials between now and 2025.

To keep the initiative earnings-neutral, Nestlé says it intends to pursue operational efficiencies.

Read more here: https://www.environmentalleader.com/2020/01/nestle-food-grade-recycled-plastics/

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