Nestlé Waters North America is investing $6 million in the Closed Loop Fund, a $100 million social impact investment fund committed to finding a national solution to the critical recycling gap in the U.S. Nestlé Waters will join 3M, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Johnson & Johnson, Keurig Green Mountain, PepsiCo and the PespiCo Foundation, Procter & Gamble, Unilever, Walmart and the Walmart Foundation in funding comprehensive recycling infrastructure and programs in cities across the U.S.
“The United States has one of the lowest recycling rates of any industrialized country, but it doesn’t have to stay that way. The U.S. has an opportunity to lead the way in recycling, while creating jobs, economic growth and a more sustainable future,” said Nestlé Waters North America Chief Sustainability Officer Nelson Switzer in a statement. “As a company, we are on a very deliberate journey toward zero landfill waste in our products and operations, so I can think of no better opportunity than working collectively to ensure these recyclable materials are transformed from garbage to the valuable resources that they are.”
To date, the Closed Loop Fund has diverted more than 100,000 tons of recyclables from landfill, and the 11 projects currently funded are expected to divert 4 million tons by 2025. The Closed Loop Fund is also working toward eliminating more than 40 million tons of greenhouse gas, diverting more than 20 million cumulative tons of waste from landfills, providing a $40 million economic benefit to municipalities and proving replicable models that will help unlock additional investment in recycling.
"Nestlé Waters’ commitment to the Closed Loop Fund is a significant investment in creating shared value across the recycling supply chain," said Closed Loop Fund Managing Director Rob Kaplan. "The investment will enable people to recycle more, and efficiently turn those packages into new products. It will save taxpayer dollars and improve the recycling system."