Dive Brief:
- Nine prominent corporations have joined together to create a $100 million recycling fund. The money collected will be used to create projects to expand recycling rates.
- Companies contributing to the fund include Walmart, Coca-Cola, Goldman Sachs, Johnson & Johnson, Keurig Green Mountain Inc, PepsiCo, Procter & Gamble, SC Johnson and Unilever.
- The reason behind the solidarity, according to Solid Waste & Recycling Magazine, is to confront "stagnant" recycling rates and the need for greater amounts of recycled materials in both products and packaging. The companies involved also aim to establish a united front to encourage other companies to promote recycling.
Dive Insight:
As reported by Solid Waste & Recycling Magazine, the corporations involved are hoping to achieve the following results through the funding: create job opportunities, grow revenue by selling commodities instead of landfilling the recyclables, reduce waste entering landfills and increase the use of post-consumer recycled materials.
