Nestle announced in a statement that it would invest $2 billion to fix plastic waste. The company said it would use technology to source recycled plastic and will reduce plastics by one third by 2025.
According to Reuters, Nestle, one of the largest plastic polluters on the planet, the company will make 100% recyclable plastic by 2025. The company will create a $260 million venture fund to invest in start-ups that make sustainable packaging.
Chief Executive Mark Schneider told Reuters, “We are high up on the list because we are one of the largest companies out there in packaged goods and now we’re also taking pretty big steps in using our size to actually solve the problem.”
Nestle is going to focus on making plastic recycling easier and “close to loop,” according to Schneider’s statement to CNN, ” Making recycled plastics safe for food is an enormous challenge for our industry. That is why in addition to minimizing plastics use and collecting waste, we want to close the loop and make more plastics infinitely recyclable.” Technology will be created by the in house Nestle Institute for Packaging Sciences.
Only 2 percent of plastic is currently recycled, according to Sander Defruyt, expert on plastics at the Ellen MacArthur Foundation. Nestle used 1.7 million metric tons of plastic in production in 2018.
Read more about Nestle in One Green Planet, check out these articles:
- Unbelievable! Nestlé Wants to Draw 1.1 Million Gallons of Water a Day From This Florida Spring
- Breaking! Nestlé Sells $4 Billion Ice Cream Business in Wake of Dairy Decline
- Coca-Cola, Nestlé, and PepsiCo are the Top 3 Plastic Polluters on the Planet
- Nestle’s DiGiorno and Stouffer’s to Debut Pizza and Lasagna with Plant Based Meats!
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