Company will collect more plastic than it
sells by 2025 through Closed Loop Partners investment and
shift to recycled plastic
Unilever North America announced today a $15 million investment
in Closed Loop Partners’ Leadership Fund to help recycle an
estimated 60,000 metric tons of U.S. plastic packaging waste
annually by 2025, an amount equivalent to more than half of
Unilever’s plastics footprint in North America. The impact of
Unilever’s new investment and its continued use of post-consumer
recycled (PCR) plastic packaging, which is approximately 59,000
metric tons per year, will underpin the delivery of its commitment
to collect and process more plastic packaging than it sells by
2025.
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Closed Loop Partners’ Leadership Fund is a private equity fund
that acquires and grows companies across the value chain working to
increase recycling and keep valuable materials in the circular
economy and out of landfills.
“We believe plastics’ place is inside the circular economy where
it is reused, and not in the environment,” said Fabian Garcia,
President of Unilever North America. “We’re advocating to transform
the recycling system for a waste-free world, and we urgently need
business investment to help make it happen.”
“Unilever is a pioneer and leader when it comes to recognizing
the economic, social and environmental value of embedding circular
economy principles throughout their business, critically moving
from ambitious commitments and goals to tangible action and
progress,” said Ron Gonen, Founder and CEO of Closed Loop Partners.
“Unilever’s investment in Closed Loop Partners’ Leadership Fund, in
addition to its existing investment in our Infrastructure Fund,
will help accelerate the shift toward more circular supply chains
by scaling best-in-class circular business models and supporting
the technological breakthroughs and sustainable innovations that
keep valuable materials continuously cycling in manufacturing
supply chains.”
Unilever’s goal to collect and process more plastic packaging
than it sells is a part of its ambitious set of "Waste-Free World”
commitments. Those global commitments include halving use of virgin
plastic; ensuring all of its plastic packaging is reusable,
recyclable or compostable; and using at least 25 percent recycled
plastic in its packaging.
Half of the 118,000 metric tons of plastic packaging used by
Unilever North America is PCR plastic. Many of its brands,
including Dove, Hellmann’s, and Seventh Generation, already use 100
percent PCR bottles. The investment in Closed Loop Partners’
Leadership Fund will help secure additional PCR plastic supply for
Unilever brands and increase access to recycled plastic feedstock
processed by the companies the Fund invests in.
In addition to its private investments to improve recycling,
Unilever is advocating for producer responsibility legislation that
would significantly increase broader investment needed from the
industry to transform the recycling system. The company is working
with major CPG companies through the Circular Economy Accelerators
to promote a plan for brands to fund needed recycling
infrastructure investments in the U.S. In Canada, Unilever North
America participates in extended producer responsibility programs
in provinces with established programs.
Note to Editors:
Unilever’s Waste-Free World
commitments:
By 2025, Unilever will:
- Halve our use of virgin plastic, by reducing our absolute use
of plastic packaging by more than 100,000 tons
- Help collect and process more plastic packaging than we
sell
- Ensure that 100 percent of our plastic packaging is designed to
be fully reusable, recyclable or compostable
- Increase the use of post-consumer recycled plastic material in
our packaging to at least 25 percent
Unilever will transform its approach to plastic packing through
its ‘Less plastic. Better plastic. No plastic.’ internal framework.
The framework – which was implemented in 2017 – outlines the
approach to achieving its commitments and guides its
innovation.
- ‘Less plastic' is about cutting down the amount of plastic used
in the first place.
- ‘Better plastic' is about making products recyclable and
eliminating problematic materials. Specifically, it’s about getting
recycled content into our packaging.
- And ‘no plastic' is about thinking differently – using
alternative materials such as aluminum, glass, paper and board
where possible and removing plastic where it is not
necessary.
Learn more on Unilever’s Waste-Free World hub.
About Unilever North America Unilever is one of the
world’s leading suppliers of Beauty & Personal Care, Home Care,
and Foods & Refreshment products, with sales in over 190
countries and products used by 2.5 billion people every day. We
have 149,000 employees and generated sales of €50.7 billion in
2020. Over half of our footprint is in developing and emerging
markets. We have around 400 brands found in homes all over the
world. In the United States and Canada, the portfolio includes
iconic brand such as: Dove, Knorr, Hellmann’s, Lipton, Magnum, Axe,
Ben & Jerry’s, Degree, Dollar Shave Club, Q-tips, Seventh
Generation, St. Ives, Suave, TRESemmé, and Vaseline.
Our vision is to be the global leader in sustainable business
and to demonstrate how our purpose-led, future-fit business model
drives superior performance. We have a long tradition of being a
progressive, responsible business. It goes back to the days of our
founder William Lever, who launched the world’s first purposeful
brand, Sunlight Soap, more than 100 years ago, and it’s at the
heart of how we run our company today.
The Unilever Compass, our sustainable business strategy, is set
out to help us deliver superior performance and drive sustainable
and responsible growth, while:
- improving the health of the planet;
- improving people's health, confidence and wellbeing; and
- contributing to a fairer and more socially inclusive
world.
While there is still more to do, we are proud to have been
recognized in 2020 as a sector leader in the Dow Jones
Sustainability Index and – for the tenth-consecutive year – as the
top ranked company in the 2020 GlobeScan/SustainAbility
Sustainability Leaders survey.
For more information on Unilever U.S. and its brands visit:
www.unileverusa.com
For more information on Unilever Canada and its brands visit:
www.unilever.ca
About the Closed Loop Leadership Fund at Closed Loop
Partners The Closed Loop Leadership Fund is Closed Loop
Partners’ private equity fund, focused on acquiring best-in-class
circular business models that are fundamental to keeping plastics
and packaging, food and organics, electronics and textiles out of
landfills and within a circular system. Closed Loop Partners is a
New York-based investment firm comprised of venture capital, growth
equity, private equity, project-based finance and an innovation
center focused on building the circular economy. The firm's
business verticals build upon one another, bridging gaps and
fostering synergies to scale the circular economy.
To learn about the Closed Loop Leadership Fund, visit Closed
Loop Partners’ website.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210316005667/en/
Catherine Reynolds Unilever Media Relations
201-894-7760 MediaRelations.USA@unilever.com
Unilever NV (NYSE:UN)
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