Nestle to invest 2B Swiss francs in sustainable packaging

Thursday, 16. January 2020 08:28

Nestle SA announced on Thursday that it will invest 2 billion Swiss francs ($2.07 billion) in the development of sustainable packaging solutions. The company also stressed it aims to reduce the use of virgin plastic and shift to food-grade recycled plastics as part of its efforts to make 100% of its packaging reusable within the next five years.

"No plastic should end up in landfill or as litter. 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," Nestle CEO Mark Schneider stated.

Nestle noted it will set up a 250 million Swiss francs venture fund to invest in start-ups that focus on sustainable packaging.

Related Links: Nestlé SA
Author:
Breaking the News / NP