Nestle to invest 2bn Swiss francs in recycled plastics

Swiss food giant Nestle has said that it would be investing 2.0 billion Swiss francs (1.8 billion euros, $2.1 billion) in food-graded recycled plastic in a move to cut the use of virgin plastic.

Nestle also revealed plans to ensure that their packaging materials are recyclable and reusable by 2025.

It also revealed that the sum of 250million Francs would be invested in startup companies so as to achieve its aim of cutting down on virgin plastic usage in the next five years.

“No plastic should end up in landfill or as litter,” Nestle chief executive Mark Schneider said in the statement.

Major corporations are trying to respond to calls from consumers to ensure they apply responsible practices that are not harmful to the environment.

Back in September, Unilever revealed plans to cut the use of new plastic by the year 2025, a moved aimed at young and more environmentally conscious customers.

McDonald's recently pledged to ensure a reduction in the use of new plastic materials in their European based restaurants.

“Making recycled plastics safe for food is an enormous challenge for our industry. That is why in addition to minimising plastics use and collecting waste, we want to close the loop and make more plastics infinitely recyclable,” said Nestle’s Schneider.