Nestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovation

Must Read

NNPC Announces Top-Management Level Appointments, Redeployments

The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments in the National Oil Company, as part...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

Nestlé today announced that it will invest up to CHF 2 billion to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of innovative sustainable packaging solutions.

Building on its 2018 commitment to make 100% of its packaging recyclable or reusable by 2025, Nestlé will reduce its use of virgin plastics by one third in the same period whilst working with others to advance the circular economy and endeavour to clean up plastic waste from oceans, lakes and rivers.

Food quality and safety are paramount, and packaging plays a major role in assuring this. Most plastics are difficult to recycle for food packaging, leading to a limited supply of food-grade recycled plastics. To create a market, Nestlé is therefore committed to sourcing up to 2 million metric tons of food-grade recycled plastics and allocating more than CHF 1.5 billion to pay a premium for these materials between now and 2025. Nestlé will seek operational efficiencies to keep this initiative earnings neutral.

Packaging innovation, including new materials, refill systems and recycling solutions, is another key challenge on the path towards a waste-free future. In addition to its significant in-house research through the Nestlé Institute of Packaging Sciences, the company will launch a CHF 250 million sustainable packaging venture fund to invest in start-up companies that focus on these areas.

- Advertisement -

These two initiatives come in addition to Nestlé’s major ongoing efforts in research, sourcing and manufacturing to make its packaging recyclable or reusable and contribute to its goal to achieve zero net greenhouse gas emissions by 2050. As part of the company’s packaging commitment and to increase transparency, Nestlé will continue to outline further initiatives and provide regular progress updates.

Read Also:  International Women’s Day: What Will It Take To Achieve Gender Equality?

“No plastic should end up in landfill or as litter,” said Mark Schneider, CEO of Nestlé. “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. We are taking bold steps to create a wider market for food-grade recycled plastics and boost innovation in the packaging industry. We welcome others to join us on this journey.”

“We are pleased to see Nestlé commit a CHF 2 billion investment toward creating a circular economy for plastics, alongside a reduction of its use of virgin plastic in packaging by one third by 2025. By eliminating the plastics we don’t need, innovating in areas like reuse models and new materials, and circulating the plastics we do need – also in more challenging food-grade applications – we can create an economy where plastic never becomes waste. Achieving the commitments announced today will significantly contribute towards realizing this vision,” said Andrew Morlet, CEO, Ellen MacArthur Foundation.

- Advertisement -
Nestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovationNestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovation

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovationNestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovation

Latest News

UnionBank, PH Central Bank Governor and MAS Fintech Chief Talk Transformative Regulation in Fireside Chat

SINGAPORE - Media OutReach - 6 July 2020 - Union Bank of the Philippines (UnionBank) recently hosted a digital fireside chat on "Transformational Regulatory Change to...

Announcement on the Completion of the New Manulife-ESR Joint Venture’s Acquisition of PGGM’s Real Estate Portfolio for RMB1.7 Billion

SHANGHAI/TORONTO/AMSTERDAM/HONG KONG - Media OutReach - July 6, 2020 - ESR Cayman Limited ("ESR"; SEHK Stock Code: 1821), Manulife and PGGM today announced that a new core joint venture...

‘PENINSULA’ will have a ‘TwitterBlueroom LIVE Q&A’ session to interact with global fans on July 9 KST, ahead of its premiere!

'Train to Busan' sequel 'PENINSULA' is ready to create global phenomenon! 'Gang Dongwon', 'Lee Junghyun', and Director 'Yeon Sangho' lead conversations'PENINSULA' is the 1st case of K-movie...

NNPC Announces Top-Management Level Appointments, Redeployments

The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments in the National Oil Company, as part of ongoing efforts to strengthen...

All set for Konga discount party by 12pm

Konga is set to host a discount party for the July and third edition of Konga Last Price, a monthly live online auction pioneered...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovationNestlé creates market for food-grade recycled plastics, launches fund to boost packaging innovation