Nestlé is spending billions to cut plastic waste [CNNMoney.com]
Unilever PLC (UL)
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Source: CNNMoney.com
Nestlé is spending billions to create a market for recycled plastics London (CNN Business) Food companies trying to reduce their consumption of plastic have a big problem — it's hard to find suitable recycled material. Nestlé says it's willing to spend more than $2 billion to try and fix that. The world's biggest food company said in a statement Thursday that it would cut costs in other parts of its business to free up more than 1.5 billion Swiss francs ($1.6 billion) to buy 2 million metric tons of recycled plastic between now and 2025. Ben & Jerry's maker to slash new plastic use by nearly 400,000 tons per year Nestlé said it would be paying above the market rate for the recycled material , part of its strategy to alleviate a shortage of used plastics suitable for food packaging by luring new suppliers into the business. Doing so should help the company meet its goal of reducing its use of virgin plastics by a third by 2025. "Making recycled plastics safe f
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Sec Filings
- 4/25/24 - Form 6-K
- 4/5/24 - Form 6-K
- 3/19/24 - Form 6-K
- UL's page on the SEC website