Nestlé has committed $6 million to Closed Loop’s recycling fund.
The investment from Nestlé Waters North America to back recycling programs and infrastructure in the U.S. is part of Nestlé’s plan to become waste neutral by 2030.
“The United States has one of the lowest recycling rates of any industrialized country, says Nestlé Waters Nelson Switzer. Only 30 percent of recyclable waste in the U.S. is actually recycled.
The $100 million Closed Loop Fund provides financing for companies building recycling programs. It was launched in 2014 exclusively for corporate partners, and also includes Coca-Cola, Johnson & Johnson, Procter & Gamble, Unilever, and Walmart.