Nestlé to cut its use of virgin plastic and invest in recycling

Swiss food giant Nestlé said on Thursday that it would invest 2.0-billion Swiss francs over five years to cut its use of virgin plastics [

Nestlé also said in a statement that 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. “No plastic should end up in landfill or as litter,” Nestlé CEO Mark Schneider said in the statement.

Food and cosmetics giant Unilever announced last September that it will cut its use of new plastic in packaging in half by 2025, acknowledging that the move is partly aimed at young, more environmentally conscious customers.

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