New Flexible Plastic Fund Targets to Boost Plastic Recycling

SEATTLE (Scrap Monster): Leading consumer brand Unilever, in collaboration with peers including Mars UK, Mondelez International, Nestle and PepsiCo, announced launch of ‘The Flexible Plastic Fund’- the new £1mn fund to boost the recycling of flexible plastics in the UK. The fund is led by Ecosurety and supported by Hubbub.

The fund targets to boost flexible plastic recycling and reduce plastic pollution. It aims to keep flexible plastic out of the environment. To this effect, it proposes to guarantee a minimum price per tonne of flexible plastic that are properly recycled. In addition, the fund will be used for incentivizing investments in jobs and infrastructure in order to create a circular model for flexible plastics recycling.

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Several leading retailers in the UK have already committed to join the campaign. In order to offer convenient recycling options to customers, Sainsbury’s and Waitrose have launched in-store collection points at select stores, where customers could drop of their flexible plastic waste.

Unilever called upon all manufacturers, retailers and recyclers to play a key role in the scheme, which it thinks, will help in creating a long-term sustainable solution to flexible plastic waste in the UK.

Incidentally, flexible plastics accounted for nearly 22% of the total consumer plastic packaging in the UK, out of which only 6% were recycled.