Nestle To Produce More Sustainable Packaging
The announcement comes at a time when consumers are becomingly increasingly aware of the environmental impact of single-use packaging. 1.5 billion Swiss francs will be allocated towards covering the increased costs associated with using recycled plastics in packaging that is still safe for food.
According to the company, further research needs to be dedicated towards making recycled plastics safer for food. The remaining amount of money will be allocated towards establishing a venture fund focused on that effort.
Nestle has continually received scrutiny for producing packaging that ends up in oceans and pollutes the environment. With the goal of weakening that scrutiny, Nestle has pledged to make its packaging purely recyclable or reusable by 2025.
Additionally, the company will work to reduce its consumption of new plastics by one third within the same time span.
"No plastic should end up in landfill or as litter," said Mark Schneider, CEO of Nestlé.
Nestle hopes to be a future leader in sustainable practices when it comes to its packaging.
"We are taking bold steps to create a wider market for food-grade recycled plastics and boost innovation in the packaging industry," Schneider said.