Nestle to Invest Up to CHF2 Billion in Sustainable Packaging
January 16 2020 - 2:46AM
Dow Jones News
By Giulia Petroni
Nestle SA (NESN.EB) said Thursday that it will invest up to 2
billion Swiss francs ($2.1 billion) in sustainable packaging
solutions, part of its commitment to make its packaging fully
recyclable or reusable by 2025.
The Swiss food-and-beverage company said it plans to reduce its
use of virgin plastics by one third by 2025 and source up to 2
million metric tons of food-grade recycled plastics. Additionally
it plans to allocate more than CHF1.5 billion to pay a premium for
these materials by 2025.
"Food quality and safety are paramount, and packaging plays a
major role in assuring this," said Nestle.
The company also said it will launch a CHF250 million
sustainable packaging venture fund to invest in start-up companies
that focus in these areas.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
January 16, 2020 02:31 ET (07:31 GMT)
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