Nestlé invests US$ 30 million in Closed Loop Leadership Fund

Global FMCG major on 7 September announced a US$ 30 million (approximately Rs 220 crore) investment in the Closed Loop Leadership Fund, the private equity fund of circular economy investment firm Closed Loop Partners to lead the shift from virgin plastics to the use of food-grade recycled plastics in the US. This investment is the first to utilize Nestlé‘s packaging venture fund established earlier this year, which is part of the company’s overall investment of up to CHF 2 billion (approximately Rs 16,000 crore) to accelerate the development of innovative sustainable packaging solutions. “This investment is one of many solutions we are exploring to address the global plastic waste challenge,” said Véronique Cremades-Mathis, Global head of Sustainable Packaging, Nestlé. “It will help create a more sustainable recycling system and, at the same time, assist us in achieving our commitment to reduce our use of virgin plastics by one third by 2025. This is particularly important as increasing the use of recycled plastics could substantially reduce the environmental impact of our packaging.” Closed Loop Leadership Fund…

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