Unilever Invests $15 Million in Closed Loop Partners

Through the partnership, Unilever plans to promote a scheme by which brands could fund investments in recycling infrastructure in the U.S.

SEATTLE (Scrap Monster): Unilever North America announced investment of $15 million in Closed Loop Partners’ Leadership Fund. The investment will help to recycle nearly 60,000 metric tons of plastic packaging in the U.S. by 2025. Incidentally, this accounts for more than 50% of the company’s plastics footprint in the entire North American region.

The investment is part of its efforts to collect and process more plastic packaging than it sells. It will help Unilever to secure additional postconsumer resin (PCR). Apart from that, it will also boost access to recycled plastic feedstock processed by the companies the fund invests in.

HUL Targets 100% Plastic Waste Collection in 2021

Earlier, Unilever had declared its commitment to cut its use of virgin plastic by almost 50%, ensure use of at least 25% recycled plastic content in its packaging. In addition, the commitment also includes ensuring that all of its plastic packaging is reusable, recyclable or compostable. Currently almost 50% of the 118,000 metric tons of plastic packaging used by the company is made with PCR plastics supply for its brands.

Through the partnership, Unilever plans to promote a scheme by which brands could fund investments in recycling infrastructure in the U.S.

The Leadership Fund acquires and grows companies across the value chain, with the aim of boosting recycling and ensuring circularity of valuable materials.