PepsiCo Drinks North America Pronounces $15 Million Funding in Closed Loop Companions’ Management Fund

PepsiCo Drinks North America introduced a $15 million funding in Closed Loop Companions’ Management Fund, a non-public fairness fund that acquires and grows firms, together with within the packaging worth chain, to strengthen recycling infrastructure and construct round provide chains that maintain supplies out of landfills. “The recycling panorama in America continues to be difficult, and as firms – together with PepsiCo – set bold targets to make use of extra recycled content material of their packaging, there’s extra want than ever for partnerships and motion to extend entry to recycled materials,” mentioned Jason Blake, Chief Sustainability Officer and SVP at PepsiCo Drinks North America. “Via PepsiCo Optimistic, our end-to-end strategic transformation agenda, sustainability is on the coronary heart of every thing we do. We’re honored to increase our partnership with Closed Loop Companions by way of this funding to advocate for and advance the required work that’s being performed to remodel the recycling system.”

“Demand for recycled supplies in packaging is rising at an unprecedented price, signaling a chance for larger funding within the recycling infrastructure that retains these commodities in play. At Closed Loop Companions, we’re dedicated to strengthening the round techniques that make this doable,” says Ron Gonen, Founder & CEO of Closed Loop Companions. “PepsiCo’s funding within the Closed Loop Management Fund builds on its present partnership with our agency, setting a transparent path ahead for the meals and beverage trade to advance round provide chains for packaging. We look ahead to persevering with our long-standing partnership with PepsiCo and the beverage trade in constructing a extra waste-free world.”

This funding reinforces PepsiCo’s want to create a world the place packaging by no means turns into waste and the corporate’s plans to extend recycling charges in america, whereas concurrently unlocking entry to incremental recycled plastic provide. It goals to assist propel progress in opposition to PepsiCo’s goal to chop virgin plastic from non-renewable sources throughout our meals and beverage portfolios by 50% by 2030. Within the U.S., all Pepsi-branded merchandise are anticipated to be transformed to 100% rPET bottles by 2030, with Pepsi Zero Sugar starting to be offered in 100% rPET bottles by 2022. As shared within the 2020 Sustainability Report, PepsiCo reported that 87% of its packaging is recyclable, compostable, or biodegradable and this funding with Closed Loop Companions’ Management Fund will solely assist to drive much more assortment of those precious supplies to be used in our packaging.

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