Recently, PepsiCo North America Beverage Company announced that it will invest US$15 million in the Closed Loop Partners’ Leadership Fund to expand recycling infrastructure and build a circular supply chain.
By investing in recycling infrastructure, PepsiCo hopes to achieve several sustainable packaging goals. By 2030, all Pepsi brand products will use 100% R-PET bottles, and by 2022, Pepsi zero sugar beverages will begin to be sold in 100% R-PET bottles.
In recent years, due to fast moving consumer goods (FMCG) companies committing to use post-consumer recycled (PCR) components in their packaging within the next 5 to 10 years, the demand for PCR components has increased significantly. The low recovery rate in the United States may not be able to keep up with demand.
"The recycling situation in the U.S. remains challenging, and as companies set ambitious goals for using more recycled materials in their packaging, partnerships and actions are now more needed than ever to increase the use of recycled materials." Pepsi Beverages Said Jason Blake, Chief Sustainability Officer and Senior Vice President of North America.
According to NAPCOR's "2020 PET Recycling Report", the US PET bottle recycling rate dropped from 27.9% in 2019 to 26.6% in 2020.
The low collection rate and strong demand have pushed R-PET prices to record highs in 2021.
