In an attempt to develop sustainable packaging solutions, Nestlé will invest up to CHF 2 billion (a little more than $2 billion) into the process. Nestlé, which set a goal in 2018 of making all its packaging recyclable or reusable by 2025, will lead a shift from virgin plastics to food-grade recycled plastics. The Swiss-based company, which says packaging is a major factor in assuring food quality and safety, notes there is a limited supply of food-grade recycled plastics.
“To create a market, Nestlé is therefore committed 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,” the company stated in a release.
Similarly, Taco Bell announced it would attempt to make all its consumer-facing packaging reusable, compostable or recyclable by 2025. The quick-serve chain, which released its commitments in 2020 earlier this month, also said it will add recycling and/or composting bins to restaurants wherever possible.
PepsiCo also has set a goal of making 100 percent of its packaging recyclable, compostable or biodegradable and raising the percentage of recycled content used in its plastics packaging by 25 percent by 2025. Meanwhile, Fiji Water announced a timetable to make all plastic bottles from 100 percent recycled plastic (rPET) by 2025.
Last summer, Hasbro stated its ambition to eliminate virtually all plastic in packaging for new products by the end of 2022, and late last year, Mattel declared its intention to achieve 100 percent recycled, recyclable, or bio-based plastics materials in both its products and packaging by 2030.
Through the Nestlé Institute of Packaging Sciences, the company will launch a CHF 250 million sustainable packaging venture fund to invest in startup companies that focus on these areas. These efforts are in addition to Nestlé’s ongoing endeavor to achieve zero net greenhouse gas emissions by 2050. Nestlé says it will provide progress updates on a regular basis.
“No plastic should end up in landfill or as litter,” Mark Schneider, CEO of Nestlé, said in the release. “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.”
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