PepsiCo Beverages North America, Purchase, New York, announced a $15 million investment in Closed Loop Partners’ Leadership Fund, a private equity fund that acquires and grows companies, including in the packaging chain, to strengthen recycling infrastructure and build circular supply chains that keep materials out of landfills.
This investment reinforces PepsiCo’s desire to create a world where packaging never becomes waste and the company’s plans to increase recycling rates in the United States, while simultaneously unlocking access to incremental recycled plastic supply. It aims to help propel progress against PepsiCo’s target to cut virgin plastic from non-renewable sources across our food and beverage portfolios by 50% by 2030.
In the United States, all Pepsi-branded products are expected to be converted to 100% rPET (recycled polyethylene tetraphyte) bottles by 2030, with Pepsi Zero Sugar beginning to be sold in 100% rPET bottles by 2022.
As shared in the 2020 Sustainability Report, PepsiCo reported that 87% of its packaging is recyclable, compostable or biodegradable and this investment with Closed Loop Partners’ Leadership Fund will only help to drive even more collection of these valuable materials for use in its packaging.
For more information, visit www.pepsico.com.