Nestle SA to Invest 2bn Swiss Francs in Recycled Plastics

Swiss food and beverage giant Nestle SA on Thursday announced an ambitious programme to invest 2.0 billion Swiss francs (1.8 billion euros, $2.1 billion) over the next five years to reduce its use of virgin plastics in favour of food-grade recycled plastics.

The company said it also plans to invest in new types of sustainable packaging to meet its target of making all its packaging recyclable or reusable by 2025.

Nestle also said in a statement it would reduce its use of virgin plastics by one third over the next five years and would set up a venture fund with 250 million Swiss francs to invest in start-up companies working in the recycling sector.

To create a market for recycled plastics, it said it would source up to 2 million metric tons of food-grade recycled plastics and allocated more than 1.5 billion Swiss francs to pay a premium for the material between now and 2025.

“No plastic should end up in landfill or as litter,” Nestle chief executive Mark Schneider said in the statement.

“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,” said Nestle’s Schneider.

January 18, 2020