Nestlé to invest in food-grade recycled plastics, fund innovation
Towards actualising the net zero emission goal, Nestlé has announced that it will invest CHF 2 billion (₦886,620,437,200.00) to produce food-grade recycled plastics to package its products and expedite innovation by launching a CHF 250 million (₦110,830,318,000.00) investment in start-up companies as sustainable packaging venture fund.
These initiatives will count for its 2025 short efforts towards fruition of the 2050 net-zero greenhouse gas emissions vision.
Emphasizing on the need for this, Mark Schneider, CEO of Nestlé, said: “No plastic should end up in landfill or as litter.”
According to him, the challenges attached to making recycled containers are gearing the company into action, while imploring others to join in the quest.
“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,” he said.
Reacting to this announcement, Andrew Morlet, CEO, Ellen MacArthur Foundation, expressed his delight, especially on how it will positively impact the environment.
“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,” he stated.
RECOMMENDED ARTICLES
Comment
No comments found.