Nestle to invest $2 billion in sustainable packaging innovation
16 January 2020,Switzerland – Nestlé today announced that it will invest up to 2 billion Swiss francs 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 is aiming to 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.
In addition to its significant inhouse research through the Nestlé Institute of Packaging Sciences, the company will launch a 250 million Swiss franc ($259.2 million) sustainable packaging venture fund to invest in start-ups focused on creating new materials, refill systems and recycling solutions for packaging.
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.
“No plastic should end up in landfill or as litter,” said Ulf Mark Schneider, chief executive officer of Nestle. “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 2 billion Swiss francs 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.
