Nestle to invest up to $2.08bn in sustainable packagingChristian Fernsby ▼ | January 16, 2020
Nestle has announced that it will invest up to CHF 2 billion ($2.08 billion) to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of innovative sustainable packaging solutions.
Food and ecology Nestle
Topics: Nestle sustainable packaging
According to Nestle, most plastics are difficult to recycle for food packaging, leading to a limited supply of food-grade recycled plastics.
To create a market, the company will commit to sourcing up to 2 million metric tons of food-grade recycled plastics and allocating more than CHF 1.5 billion ($1.56 billion) to pay a premium for these materials between now and 2025.
As well as its in-house research through the Nestle Institute of Packaging Sciences, the company will launch a CHF 250 million ($259.5 million) sustainable packaging venture fund to invest in start-up companies that focus on areas such as packaging innovation, refill systems and recycling solutions. ■