PepsiCo Beverages North America invests $35 million to help in recycling access
PepsiCo’s investment with Closed Loop Partners aims to create an innovative community-based recycling infrastructure model
Purchase, N.Y.-based PepsiCo Beverages North America (PBNA) announced a $35 million investment with Closed Loop Partners that will create the "Closed Loop Local Recycling Fund," an innovative circular economy initiative to advance new small-scale, modular recycling systems in communities across the United States, it says.
The fund aims to increase recycling in areas with no or limited access to recycling, reducing waste and unlocking a new supply of recycled plastic (rPET), among other valuable materials, to support PepsiCo's pep+ (PepsiCo Positive) sustainable packaging goals, it adds.