ENGLEWOOD CLIFFS, N.J.–(BUSINESS WIRE)–Unilever North America introduced at this time a $15 million funding in Closed Loop Partners’ Leadership Fund to assist recycle an estimated 60,000 metric tons of U.S. plastic packaging waste yearly by 2025, an quantity equal to extra than half of Unilever’s plastics footprint in North America. The influence of Unilever’s new funding and its continued use of post-consumer recycled (PCR) plastic packaging, which is roughly 59,000 metric tons per yr, will underpin the supply of its dedication to gather and course of extra plastic packaging than it sells by 2025.
Closed Loop Partners’ Leadership Fund is a non-public fairness fund that acquires and grows corporations throughout the worth chain working to extend recycling and preserve priceless supplies within the round financial system and out of landfills.
“We imagine plastics’ place is contained in the round financial system the place it’s reused, and never within the setting,” stated Fabian Garcia, President of Unilever North America. “We’re advocating to remodel the recycling system for a waste-free world, and we urgently want enterprise funding to assist make it occur.”
“Unilever is a pioneer and chief in the case of recognizing the financial, social and environmental worth of embedding round financial system ideas all through their enterprise, critically shifting from formidable commitments and objectives to tangible motion and progress,” stated Ron Gonen, Founder and CEO of Closed Loop Partners. “Unilever’s funding in Closed Loop Partners’ Leadership Fund, along with its current funding in our Infrastructure Fund, will assist speed up the shift towards extra round provide chains by scaling best-in-class round enterprise fashions and supporting the technological breakthroughs and sustainable improvements that preserve priceless supplies repeatedly biking in manufacturing provide chains.”
Unilever’s aim to gather and course of extra plastic packaging than it sells is a component of its formidable set of “Waste-Free World” commitments. Those international commitments embody halving use of virgin plastic; guaranteeing all of its plastic packaging is reusable, recyclable or compostable; and utilizing a minimum of 25 p.c recycled plastic in its packaging.
Half of the 118,000 metric tons of plastic packaging utilized by Unilever North America is PCR plastic. Many of its manufacturers, together with Dove, Hellmann’s, and Seventh Generation, already use 100% PCR bottles. The funding in Closed Loop Partners’ Leadership Fund will assist safe extra PCR plastic provide for Unilever manufacturers and improve entry to recycled plastic feedstock processed by the businesses the Fund invests in.
In addition to its personal investments to enhance recycling, Unilever is advocating for producer duty laws that will considerably improve broader funding wanted from the business to remodel the recycling system. The firm is working with main CPG corporations by way of the Circular Economy Accelerators to advertise a plan for manufacturers to fund wanted recycling infrastructure investments within the U.S. In Canada, Unilever North America participates in prolonged producer duty applications in provinces with established applications.
Note to Editors:
Unilever’s Waste-Free World commitments:
By 2025, Unilever will:
- Halve our use of virgin plastic, by decreasing our absolute use of plastic packaging by extra than 100,000 tons
- Help gather and course of extra plastic packaging than we promote
- Ensure that 100% of our plastic packaging is designed to be absolutely reusable, recyclable or compostable
- Increase the use of post-consumer recycled plastic materials in our packaging to a minimum of 25 p.c
Unilever will rework its method to plastic packing by way of its ‘Less plastic. Better plastic. No plastic.’ inner framework. The framework – which was applied in 2017 – outlines the method to attaining its commitments and guides its innovation.
- ‘Less plastic’ is about slicing down the quantity of plastic used within the first place.
- ‘Better plastic’ is about making merchandise recyclable and eliminating problematic supplies. Specifically, it’s about getting recycled content material into our packaging.
- And ‘no plastic’ is about pondering in another way – utilizing various supplies reminiscent of aluminum, glass, paper and board the place doable and eradicating plastic the place it isn’t mandatory.
Learn extra on Unilever’s Waste-Free World hub.
About Unilever North America
Unilever is one of the world’s main suppliers of Beauty & Personal Care, Home Care, and Foods & Refreshment merchandise, with gross sales in over 190 nations and merchandise utilized by 2.5 billion individuals on daily basis. We have 149,000 staff and generated gross sales of €50.7 billion in 2020. Over half of our footprint is in creating and rising markets. We have round 400 manufacturers present in houses everywhere in the world. In the United States and Canada, the portfolio contains iconic model reminiscent of: Dove, Knorr, Hellmann’s, Lipton, Magnum, Axe, Ben & Jerry’s, Degree, Dollar Shave Club, Q-tips, Seventh Generation, St. Ives, Suave, TRESemmé, and Vaseline.
Our imaginative and prescient is to be the worldwide chief in sustainable enterprise and to reveal how our purpose-led, future-fit enterprise mannequin drives superior efficiency. We have an extended custom of being a progressive, accountable enterprise. It goes again to the times of our founder William Lever, who launched the world’s first purposeful model, Sunlight Soap, extra than 100 years in the past, and it’s on the coronary heart of how we run our firm at this time.
The Unilever Compass, our sustainable enterprise technique, is got down to assist us ship superior efficiency and drive sustainable and accountable progress, whereas:
- bettering the well being of the planet;
- bettering individuals’s well being, confidence and wellbeing; and
- contributing to a fairer and extra socially inclusive world.
While there may be nonetheless extra to do, we’re proud to have been acknowledged in 2020 as a sector chief within the Dow Jones Sustainability Index and – for the tenth-consecutive yr – as the highest ranked firm within the 2020 GlobeScan/SustainAbility Sustainability Leaders survey.
For extra info on Unilever U.S. and its manufacturers go to: www.unileverusa.com
For extra info on Unilever Canada and its manufacturers go to: www.unilever.ca
About the Closed Loop Leadership Fund at Closed Loop Partners
The Closed Loop Leadership Fund is Closed Loop Partners’ personal fairness fund, centered on buying best-in-class round enterprise fashions which are basic to holding plastics and packaging, meals and organics, electronics and textiles out of landfills and inside a round system. Closed Loop Partners is a New York-based funding agency comprised of enterprise capital, progress fairness, personal fairness, project-based finance and an innovation middle centered on constructing the round financial system. The agency’s enterprise verticals construct upon each other, bridging gaps and fostering synergies to scale the round financial system.
To study in regards to the Closed Loop Leadership Fund, go to Closed Loop Partners’ website.