Food giant Nestle said on Thursday it would invest up to 2 billion Swiss francs ...
FILE PHOTO: Packagings made out of recycled or natural products are pictured during a media visit for the inauguration of the Nestle Institute of Packaging Sciences in Lausanne, Switzerland, September 12, 2019. REUTERS/Denis Balibouse
ZURICH - Food giant Nestle said on Thursday it would invest up to 2 billion Swiss francs to source more recycled plastics to package its products. Nestle will allocate more than 1.5 billion francs pay for the extra cost of food-grade recycled plastics and will also launch a 250 million franc sustainable packaging venture fund, the maker of KitKat chocolate bars and Maggi soups said in a statement.
The company, whose packaging is regularly blamed for polluting oceans and landfills, has vowed to make 100% of its packaging recyclable or reusable by 2025. It said on Thursday it would reduce its use of new plastics by one third in the same period.
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