PepsiCo Invested $15 Million in Closed Loop Partners' Fund

SEATTLE (Scrap Monster): PepsiCo Beverages North America announced investment of $15 million in Closed Loop Partners’ Leadership Fund. The new investment is aimed at upgrading recycling infrastructure in the U.S. The private equity fund strives to build circular supply chains, focusing on material recovery and infrastructure improvements.

The global beverage leader has been a partner of Closed Loop for a long time. In, 2014, PepsiCo had become the founding member of the Closed Loop Infrastructure Fund. The company has also been an investor in the Closed Loop Partners’ Beverage Fund. In addition, the company became a founding partner of Composting Consortium, the company press release noted.

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Jason Blake, Chief Sustainability Officer and SVP at PepsiCo Beverages North America said that the company is honoured to expand its partnership with Closed Loop Partners through the investment. It will advance the efforts to transform the recycling system. The partnerships and actions like these will boost access to recycled material, he added.

As mentioned in the 2020 Sustainability Report, 87% of its package is currently recyclable, compostable or biodegradable. The company targets to cut virgin plastic from non-renewable sources across its food and beverage portfolios by 50% by 2030. Also, it targets to convert all branded products to 100% rPET bottles by 2030.