Mondelēz International has joined the Circulate Capital Ocean Fund (CCOF) as a limited partner and has announced plans to support scalable business solutions to help develop infrastructure for the collecting, sorting, and recycling of plastic waste, including flexible films.
The goal of this investment, which is part of Mondelēz International’s Sustainable Futures impact investing platform, is to enhance focus on the physical collection of flexible films – lightweight, multi-layer plastics used by the snacking industry – that have traditionally been more difficult to collect, sort, recycle and ultimately reuse.
Packaging Targets
The group has already made significant progress toward its packaging recyclability targets.
Mondelēz has removed 65,000 tonnes of packaging from its portfolio since 2013 and remains on track to achieve its 2025 goals to reduce virgin plastic use in rigid plastic packaging by 25%.
To date, approximately 94% of the group's packaging is designed to be recycle ready.
Circular Economy Initiatives
Mondelez is also supporting initiatives promoting a circular economy for plastics with programmes underway across multiple markets including India, Philippines, Indonesia, United Kingdom, and Australia, demonstrating a strategic focus on less, better and improved plastic packaging and systems.
The group is also an active participant in the Consumer Goods Forum Plastic Waste and Forest Positive Coalitions of Action, the Business Call for a Global UN Treaty on Plastics Pollution, the U.S. Plastics Pact, the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment, the New Plastics Economy Initiative, the European CFLEX Initiative, the UK Plastics Pact and the UK Flexible Plastic Fund (formerly known as EPPIC), the India Plastics Pact and the Australia/New Zealand Plastics Pact, among others.
© 2021 European Supermarket Magazine. Article by Conor Farrelly. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
