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Nestlé smashes CHF 2 billion to invest in R&D and application of food-grade recycled plastics

 Last Update: 2022-08-21
 Source: Internet
 Author: User

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Nestlé will invest up to CHF 2 billion (£1.
59 billion) to lead the shift from virgin plastic to food-grade recycled plastic

Nestlé, which owns brands such as KitKat and Nesquik, has pledged to recycle or reuse 100 percent of its product packaging by 2025

Virgin plastics are never resins produced directly from petrochemical feedstocks such as crude oil and natural gas

In addition, Nestlé will launch a CHF 250 million Sustainable Packaging Venture Fund, which will be used to invest in start-ups in packaging innovations, new materials, complementary systems and recycling solutions

Nestlé CEO Mark Schneider said: “No plastic product should end up in landfill or waste

Andrew Morlet, CEO of the Ellen MacArthur Foundation, commented: "We are delighted to see Nestlé committing CHF 2 billion to create a circular economy for plastics

By 2025, Nestlé will reduce its use of packaging by a third, he said

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