By Giulia Petroni
Nestle SA said Monday that it would allocate $30 million to contribute to the shift from the use of virgin plastics to recycled plastics for food containers in the U.S.
The Swiss food and beverage giant said the investment will be allocated to the Closed Loop Leadership Fund, the private-equity fund Closed Loop Partners, which finances companies advancing a circular economy.
Nestle will have access to plastics processed by the companies in which the fund invests. The amount is part of an overall investment by Nestle of up to 2 billion Swiss francs ($2.19 billion) for sustainable-packaging solutions.
Write to Giulia Petroni at email@example.com