Wednesday, April 21, 2021

Nestlé investing £1.59bn to accelerate sustainable packaging solutions

Nestlé is aiming to accelerate the development of sustainable packaging solutions by investing up to CHF 2 billion (£1.59bn) to lead the shift from virgin plastics to food-grade recycled plastics.

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 during the same period whilst working with others to advance the circular economy.

The food giant is committing 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. It added it will seek operational efficiencies to keep this initiative earnings neutral.

In addition to its inhouse research through the Nestlé Institute of Packaging Sciences, which launched in 2018, the company will launch a CHF 250 million sustainable packaging venture fund to invest in start-up companies that focus on these areas.

“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 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. We welcome others to join us on this journey.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close