Nestle to invest 2bn Swiss francs in recycled plastics

GENEVA: Swiss food giant Nestle said Thursday it would invest 2.0 billion Swiss francs (1.8 billion euros, $2.1 billion) over five years to cut its use of virgin plastics in favour of food-grade recycled plastics.

The company, whose brands include Nespresso coffee, Vittel water and Smarties chocolates, also plans to invest in new types of sustainable packaging to meet its target of making all packaging recyclable or reusable by 2025.

Nestle 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.

GENEVA: Swiss food giant Nestle said Thursday it would invest 2.0 billion Swiss francs (1.8 billion euros, $2.1 billion) over five years to cut its use of virgin plastics in favour of food-grade recycled plastics.

The company, whose brands include Nespresso coffee, Vittel water and Smarties chocolates, also plans to invest in new types of sustainable packaging to meet its target of making all packaging recyclable or reusable by 2025.

Nestle 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.