Nestlé to spend €1.4bn on sourcing recycled plastics

Swiss-based global food giant Nestlé has announced it is to spend CNF 1.5-billion (€1.4-billion) on the sourcing of as much as 2 million tonnes of food-grade recycled plastics between now and 2025.

In addition, the company has said that it is launching a CHF 250-million (€237-million) sustainable packaging venture fund which will be used for the funding of start-up companies that specialise in packaging innovations such as new materials, recycling and refill systems. Nestlé will also conduct its own research through its Institute of Packaging Sciences.

In 2018, Nestlé set the target of 100% recyclable packaging by 2025. Over that time period, it is also looking to reduce the amount of virgin plastic used by one third.

Nestlé chief executive Mark Schneider, said: “Making recycled plastics safe for food is an enormous challenge for our industry. That is why in addition to minimising 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,” he added.

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