LONDON (dpa-AFX) - Unilever North America announced 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 company said it will collect more plastic than it sells by 2025 through Closed Loop Partners investment and shift to recycled plastic.
The company noted that it is advocating for producer responsibility legislation that would significantly increase broader investment needed from the industry to transform the recycling system.
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